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Your Credit If it’s Broke Its Time to Fix It

Easy credit just might be the greatest seductress of the modern era. If you have fallen prey to its wiles, you are probably in need of some personal credit repair work. This is a common position to be in and not one to be ashamed of. By arming yourself with these credit repair tactics you can repair the damage and defend yourself better in the future.

Check your credit report from all three major credit reporting agencies once a year. This is a great opportunity to check your report for problems or bad information. If you notice a problem with your report, then you could fix it. This also gives you an idea of how a prospective lender would view you when pulling your credit report.

While working on a credit repair plan make sure you continue paying your regular bills such as cable, phone, and electricity. If you do not make payments on time, then that could end up on your credit report. Some utility companies will even take you to court to obtain their money. You do not want a judgment on your credit report!

Ask your credit card company to lower the limit on your credit card. Lenders can see how much credit you have available to you, even if it isn’t utilized. The more you have available the bigger the chance is that you could overextend yourself and have problems paying back your debts.

A great tip for improving your credit is to eliminate all credit cards except for one. When you have many different credit cards, it makes it difficult to keep up with all the monthly payments for them. All you must do to close a credit card is to write to the issuer and let them know you want to close your account.

A great way to improve your credit rating is to ensure that you always pay your monthly credit card payments on the day that they are due. If you cannot afford to pay off your balance every month you should ensure that you at least pay the minimum payment. Making your payments on time will ensure that your credit remains in good standing.

A great tip to improve your credit rating is to pay off your entire credit card balance each month. This will demonstrate that you are a responsible borrower, which will raise your credit rating. If you can’t pay off your entire balance, you should always aim to pay off as much as possible.

When trying to improve your credit, you should ask your credit card companies to decrease your credit card limits. This will not only prevent you from overspending beyond your means, but it will also demonstrate to your credit card companies and other lenders that you are a responsible borrower. This will likely lead to an increase in your credit rating.

A great tip for improving your credit rating is to use your credit card for your everyday purchases, such as food and gasoline. However, you must ensure that you do not spend too much so that you are able to pay off this balance every month. By doing this, you will show the credit card companies that you are a reliable borrower, which will, in turn, increase your credit rating.

Methods like these will help you repair your credit and learn to resist the temptations of easy money. Credit repair is not easy or fun, but it can be a learning experience. When you have conquered your personal credit crisis you can hold your head high and be confident of avoiding such pitfalls in the days ahead.

You can have anything you want if you are willing to put in the time, effort and plans to get to your goals. Discover the secrets why the rich stay rich and the poor stay poor. Click Here to view a video with more life tips! In closing, We invite you to share your comments on this subject and the other posts. If you find the information useful, Like & Share us on Facebook, Google Plus and other social media platforms. Remember to keep an open mind and Shift 4 Freedom.

Your Guide on How to Be Debt Free

Debt is something many people all over the world struggle with, and many want to know how to be debt free. Today you can’t afford to spend cash on everything, and sometimes you must use a credit card or get a loan. But if the unexpected happens and you’re unable to pay back those debts it can spiral out of control.

An illness, some time off from work or even an unexpected household repair that requires you to use your credit card can all be reasons for you to find yourself with more debt than you can handle.

There are many options available to you such as debt counseling services, debt consolidation, and even bankruptcy. But before you do anything that drastic take some time to try to fix your debt situation on your own.

It is possible, even without adding income, to pay off your debt. It will take time and it will take discipline but if you are committed to living a life without any debt you can do it.

Below is a step by step plan that will help you to get rid of all your debt. It isn’t a quick fix, but it’s realistic and has worked for thousands of people, and it can work for you too:

1) Make yourself a detailed list of all your debt. Add everything, even the smallest of debts should be added to this list. This list should include your monthly household bills (such as house payments, insurance, utility bills, etc. etc. etc.) in one column and your debt in another column.

2) Make a very detailed budget for all your monthly expenses. Be sure to have enough so you can make at least the minimum payments on all your debt.

3) From the lists, above pick the smallest debt as your target. Pay as much towards this debt as you can without cutting payments on your other debts. Once you manage to pay off this debt completely, take that money and apply it to the next smallest debt. Keep doing this again and again until your debt is all paid off. Doing this will allow you to pay off all your debt, even if you can’t get extra money coming in.

This method works, it just takes discipline. You’ll have to make sacrifices if you want to be debt free. That means making a reasonable budget and sticking to it. But if you stay disciplined, and keep at it, you will eventually find yourself out of debt which will bring you peace of mind and will make all the sacrifices seem worthwhile.

Your Personal Credit Score

Lots of people have been denied a loan, credit card or other forms of credit because of wrong information the lenders find in their credit report. Before banks or any other financial institution grant your application for a loan, they will first find out about your credit history from bureau by requesting for your credit report.

A credit report is a compilation of your credit history, past financial transactions and personal information possible. This report is usually compiled by accredited agencies known as credit reporting agency.

Credit reporting agencies are organizations that help credit card companies, loan companies, banks, and departmental stores in the country to ascertain the creditworthiness of their would-be clients. They provide these companies information about those who are good credit risk and those who are not.

They receive most information about consumers from loan companies, credit card companies, banks, credit, and lending sources. In this report, you will there be information on your occupation, place of employment, residence record, court and arrest records, income status, details on payment of your past and present bills and loans.

Once they have detail information from these sources, they give it to any organizations in need of it when requested. Though they keep on file information concerning you and your credit, they don’t make final judgments as to your creditworthiness. The decision is up to the credit card companies or any lender which you are dealing with.

The credit score is used by banks, credit card companies, loan lenders and other financial companies to determine your creditworthiness. As a matter of fact, most lenders often based their charges on information in your credit report. Also, some employers often consider information in your credit report before they employ you. If you have severe financial problems some will find it difficult to employ you.

Whenever you apply for new credit card, loan or any form of credit from any source’s lenders will base their acceptance or rejection of your application on your personal credit report. If your credit report shows you’ve been reliable in the past, then you will most likely get the credit card or loan you apply for.

However, if you have in one way or the other defaulted on account or you were constantly late in making payments, it will likely be impossible for you to get the credit you applied for.

While compiling your report the agency or financial institution that’s giving them the information may make mistake and give inaccurate information about your credit. If you did not dispute this error and demand necessary changes, they will leave it in your report. You can imagine the possible effects on your life in the future. Because of this, it’s very important that you check your report at least once a year.

In other to be able to check your report for possible inaccurate information you must request for a copy of your report. You can get a copy of this report from the credit bureau because it’s your personal credit file and you have absolute right to know what is in it.

You have right to know exact information they are giving out concerning your name and creditworthiness. If the report is not good enough or you can prove to yourself that it’s all about your past, you can change it. You can build your new creditworthiness. It’s possible.

To learn more information and how to repair issues on your report, “Click Here”. Discover the secrets the rich keep away from the poor. “Click Here“