|Building your credit after repeated interruptions is a constant
headache we all want to avoid. In this article I am going to
break it on down for you since there are many sources that will
take full advantage of you when the opportunity arise. If you
feel bad simply because you can't meet your bills expectations
at the moment they arrive, then you are not alone. The fact is,
even the best of us are struggling to meet some expectation that
the system has placed on us.
We calculate weekly the amount we spend on groceries and gas,
which are constantly increasing, as well as other bills that are
constantly on the rise. It seems at times it is a no win
situation but the fact is, there is always a solution to most
problems. The problem most times is some of us do not have the
means to find those solutions. This brings forth more stress and
often we feel that we are alone.
If you trying to build your credit status, you need to find the
resources that can help you get results. The marketplace offers
credit repair kits, which can lead us in the right direction to
repairing credit, but the disadvantage is that many of the kits
are expensive. Let's face it, not everyone has the money to
spend on commodities that claim to help us. Some of us struggle
harder than others just to survive. Life is forever changing and
in order to keep up with the changes we all have to find a
solution. Therefore, I am going to tell you where you can get a
free credit repair kit.
Your local library stores a wealth of information and it is free
to the public. Most libraries have credit repair kits, credit
repair books, or debt management solution books. Anything you
want at your disposal and it is all free information. Most
libraries have copy and fax machines and if you notice in the
credit repair guide or kit, it will have copies of the letters
you can write to your creditors. Make yourself some copies and
complete them as instructed. You are now on your way to
repairing your credit
The local library also has guides or kits for filing bankruptcy.
If you do not see a way out, then you may want to go this route.
In bankruptcy, you have minimal credit reduction, your creditors
implement many conditions on payments, you lose all your assets
and your creditors dictate your monthly payment options. In most
cases, you can do a Pro Bono Bankruptcy, which means you will
represent yourself in the courtroom. I just wanted to let you
know that if you file a Chapter 7 Bankruptcy, you will have
monthly installments to make but if you file Chapter 13
Bankruptcy then the courts wipe out all your debts. The problem
is that bankruptcies remain on credit files for up to ten years
or longer. If you can avoid bankruptcy do so, however it is not
the end of the world if you do. I know people personally that
filed bankruptcy and was able to get loans for mortgage, cars
and so on.
If you know what you are doing, you can do anything no matter
how bad your situation may be in your life. Debt consolidation
should be considered only if you are more than a few thousand
dollars in debt otherwise the consolidation might not be worth
it to you. I suggest that you avoid debt consolidation
altogether, simply because it is means you will be paying fees
and costs to others to get out of debt, which only adds up the
bills. Another debt program is called debt settlement. Debt
settlement is not the same as debt consolidation. Debt
settlement is a bankruptcy prevention program and helps improve
your credit score because bankruptcy was not involved. Another
way that you may want to repair bad credit is to consider a Debt
Counselor from a respected organization.
It makes sense to check out any business first before spending
money or asking for services. Check with the Better Business
Bureau which offers free information on organizations,
businesses and corporations. Perform some research on debt
management companies who offer these programs before committing
to one of these organizations. Once you have investigated their
services then you will know if the people are really trying to
help you. Any service that tells you they can get you out of
debt in no time at all is probably pulling your leg. The fact is
even when you pay your bills your credit will continue to list
all the bad debt. Your credit will only say after the debt
listed..."Resolved". A Final message while I am thinking about
it. It is important to get copies of your credit reports from
TransUnion, Equifax, and Experian. You can find any information
you need online. Knowing your status in life is the beginning of
repairing bad credit.
About the author:
Keith Hoyng is the web master and operator of
http://www.quickcash2u.com which is a good source of financial,
travel, remodeling, and much more information. Visit us at
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