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Credit Repair: Financing A Computer

Have you got a good professional high –salaried job? Do you pay your rentals and electric bills on time? But despite your clean-cut image, you are unable to get a candy bar loan? The reason may be sudden slide in your career or bankruptcy. A credential credit rating may be missing on your part. This will definitely pose problems for you if you want further loans or funds. A new computer or electronic gadget may remain a distant dream due to lack of finance.

Nowadays economic condition and technology has advanced to great levels, so that the loan markets have seen a major positive transition in their business.

Before, people used to be hesitant to come out and take a loan from third party. But now even influential and wealthy people are taking loans for easier payment methods and ease of monthly installments. Even people with default bank statements and poor credit score can take loans for ease in financial position. Due to large number of loan companies and banks, loans are possible for all and sundry.

There are various ways get financing for a computer. Some of them are:

• Personal Loan-On way to get a loan is from a well reputable bank or credit agencies. Personal loans are very popular and easy to get, especially if you have some mortgage property. This is one sure-shot way to get your computer deal finalized even with bad credit.

• Rent-You can always rent a computer, though it should be used as a last resort. Rent to own may result in payment of two to three times the original value of the computer, and in most cases a used second hand one.

• Any computer retail company may put layaway Option-The purchase of the computer will be on hold for maximum 90-day period. If you can provide

• Agencies-Many computer agencies are financing loan to customers for purchase of a computer. But this may need you to show valid documents and ascertain your credibility. Many computer dealers are ready to take advance cheques as payment option.

To arrange for finance with bad credit rating is not that easy, but it is not impossible. You may end up paying more than the actual value for taking loans with bad credit. It would have been a different story if your credit standing were good enough. But looking at the brighter side you may actually boost your personal and social credit ratings in a tiny way if you sincerely keep paying the monthly repayment amounts.

So cheer up, any tension can be erased with proper loan deals, and that latest computer model can also be brought with help of financial funds.

Credit Repair: Loan Problems

Are you in a financial crunch? Have you paid all your dues of previous loan debts? Queries are many, but answers are few. As the real estate market is on a boom these days with home prices and interest rates for loans seeing new highs literally everyday.

But is it wise on your part to sign any contract for a lucrative house deal or take mortgage for home improvements? Before you really plunge in, you will have to find a worthy lender who can give correct value to your property and finance you accordingly. Naturally your monthly income and credit ratings play a vital role to assess the loan amount you may take from any loaning company.

12 to 15 year repayment periods for mortgage loans are good alternatives for bigger loan amounts. It is considerably shorter period for repayment, than 20 to 25 years period. There are even loan schemes, which you can pay off in thirty years time period, with reasonably fixed monthly installments, but it is a lengthy period for repayment. But you may get yourself a low interest rate deal for all those years.

Many flexible credit finance programs may give a rate cap or a protection, which may necessarily prevent any rise in the rate of interest every year, and the loan interest rates are paid up over the limited time period.

You may get an estimation to determine the value of your property and the closing costs that you may incur.

By standard rules and regulations, the lender is required to provide a financial statement within 3 to 4 days of getting your loan sanction. You are also entitled for Private Mortgage Insurance if the down payments are less than 20% of the loan amount.

A loan application for secured loans may be submitted several times or the interest rates may go up according to the market and business economy in recent times. 

Then the interest rates may rise due to inflation factor. Any amount of funding or monetary help you receive from a loan institute will be present in your credit reports. Future borrowers can show their credibility from monthly income statements, property under their name and equity shares they hold, to ascertain the down payment they are entitled to receive from lenders.

Standard mortgage loans are very much possible if you are planning to make home improvements, or garden landscaping. A construction loan may be awarded to those borrowers, who are thinking of employing electricians, home painters and building contractors to pay them for their efforts.

All said and done, a loan amount can be easily acquired in today’s growing economy and flourishing loan markets, irrespective of your bad credit ratings. So don’t wait any longer, rush to your nearest loan agent today.

Credit Repair: Bad Debts

The credit cards agents are behind you to take up a credit card? Think twice before plunging into the valley of sharks! You may be giving an open invitation to your bad credit rating. You can incur a bad debt very soon by possessing a credit card.

Though there are several companies giving loans for bad debt, it is not good for your financial position in the market. Usually such loans have high rates of interest and they are not tax-free. Bad debt is the accumulated result of your previous financial misdeeds. The foremost step that you must take is to give your financial situation a complete makeover. Try not to repeat the mistakes that you have done earlier, cleanse yourself of all your bad financial habits and take a chill pill.

Some of the below mentioned suggestions are apt for correcting your monetary position:

• Shorter Repayment Period-It is always preferable to clear the debt in a shorter duration so that the loan amount is not tagged along for many years. In this way you can also avoid another bad credit.

• Less interest rates-The loan amount should be such that the interest accrued must be lesser and feasible for you to repay in a monthly scheme.

• Mortgage loan-Loans taken on collateral basis, has lower interest rates, as the lender is at low-risk. These secured loans are pledged against the borrower’s property or home.

• Online portals-You can compare different types of loan schemes of various lenders and select the best loan deal for you.

• Student loans-It is a good loan as it plays a vital role in enhancing your educational and professional skills, thereby resulting in a better-paid job.

• Regular payments-Maintaining a regular and disciplined method of monthly repayment of your dues can save you from lot of worries and tension, thus increasing your credit ratings. 

Bad debt is a real black mark on your professional and social life. Bad debt loans are very realistic and practical solution to all your financial problems. These types of loans are common in UK and US. Investing in mutual funds and bonds are some ways to increase your cash value and it may actually help in paying out some of your dues. Bad Debt loans essentially relieve you from the burden of paying numerous loans of varying interest rates; it can be consolidated into a single loan amount to one particular lender, rather than several lenders. A mistake of the past can be converted into a good point by your managing abilities.

Thus Bad debt loans, if applied correctly can save you from major monetary crisis and also help you in recovering your credit standing in the society.

Credit Repair: Unsecured Loans

Need that extra cash? But you’re having doubts concerning your bad credit ratings? You can be relieved of such a predicament with latest developments in the loan markets. Having a poor credit rating is no more considered as the end of the world. You can now get unsecured loans, specially tailored to suit people with bad credit ratings.

Bad credits unsecured loans are premeditated for borrowers who don not have any security or collateral. People who do not have any property or valued asset to pledge against normal secured type loans can look forward to poor credit unsecured loans, which has all the features that a secured loan may offer, plus a lot of new and flexible deals.

The varied features of bad credit unsecured loans are as follows:

• High Rate of Interest-As the loaning company is providing the loan with no collateral; they may charge a high rate of interest for that added security. Interest rates are normally ranged from 12 to 20 %.

• Credit Rating-Interest rates may also fluctuate according to the borrowers’ credit ratings, repayment capacity and mainly your actual loan amount. You can get up to $25,000 for poor credit unsecured loan.

• Fast Outcome-there is no security; therefore minimum documents are needed for processing the loan. Thus the loan deal is faster and quick.

• Varied Usage-The loan amount can be used for a number of purposes including buying furniture, funding a vacation, financing a wedding, starting a new business venture or even debt consolidation of previous loans.

But though the loan scheme may look lucrative, it is advisable to exercise some caution, bearing in mind that you have to repay the amount that you will be taking with added interest on it. Proper research of various loaning companies and their policies is very much recommended before proceeding further. In that way you may feel safe and relaxed that the company is reputable and there are no overhead charges. Getting a bad credit unsecured loan is very common nowadays with an increasing number of lenders and loan agencies waiting to grab your attention. So be careful that you end with a competitive loan scheme that suits your needs and requirements. The terms and conditions of the lender should be carefully scrutinized before
taking the final plunge.

Now that you have understood all that you really need to know about bad credit loans without collateral support, you can be relaxed about your financial tensions and go ahead to claim that loan that is waiting for you. If you choose the right lender, who is reliable and reputed, you will definitely get more than your expectations.

Credit Repair: Corporate Credit

The establishment and the growth of a business is supported by a number of factors, of which, finance is the most important. In order to meet the varied needs of a flourishing business, every business house is motivated towards the idea of getting loans. In the earlier days, the businessmen were bound to obtain credit against their private properties. A high amount of risk was involved in it as the successful running of a business is never guaranteed. This high-risk situation gave birth to the term “corporate credit” that became a buzzword in a little time.

Understanding the Concept

The term corporate credit refers to an unsecured loan funded by commercial bodies. The basis of granting this loan is the credit history of the borrower. So, there is no risk involved of loosing personal assets. But, what about a person having a poor credit score? Even the person having a bad credit history can obtain the loan by ensuring the betterment of his business in the near future.

In the following discussion, the various ideas are explored to give fuel to your chance of obtaining a business loan.

• Provide the LLC Status to the Business

It is advantageous to register the business as an LLC. In this way, one helps the company to build its own reputation in the market. The problem with a proprietorship company is that the reliability of the firm is judged from its owner's credibility. Thus, at the time of obtaining a business loan, the poor credit history of the owner becomes an obstacle. On the other hand, the company having LLC status has its own reliability and hence, the process of securing a business loan becomes a smooth ride.

• Make the Business Accessible

The little add-ons like a physical address and a commercial telephone line make the business alive and increase its reach.

• Put the Critical Factors in Place

Don't forget to obtain the most desired lifelines of a business like running license, excellent rating from bank, DUNS number, sufficient number of trade references etc.

• Purchase through trade credit

Trade credit can only be used for the purchase of material. Thus, it is not very flexible in the businesses having distinct requirements of cash.

• Improve the credit score

Providing an LLC status to the organization does benefit the process of obtaining a fair business loan, but the fact could not be denied that a bad credit history of the owner affects the probability of getting a corporate credit. The financial institutes take into account only the owners having a credit score of 640 or above.

The days are gone, when securing a business loan in the situation of bad credit score was a tough job. In the modern time, you just have to think of setting up the business and you will find the corporate loans as the path of making the dream alive.

Credit Repair: Credit Cards

Are you worried about your bad credit history? Then let the bad credit cards assist you in improving the credit score. Bad credit card is the most preferred option for consumers as well as merchants to maintain a good level of credit score. This is an effective tool for high-risk credit card users as they function like a normal credit card for these users. The bad credit cards are recommended for the cardholders having a credit score of 550 or below.

Taking a Step

The non-availability of normal credit cards for bad credit owners leads them to the options like prepaid debit card, First Premiere Bank Cards and other secured credit cards. One can avail the bad credit cards in the same manner as a normal credit card. The fact that the bad credit cards have comparatively higher rate of interest and lower limits of credit, should not avert you from buying them. It is advisable to use these cards effectively, or you could land up in a worst situation.

Analyzing the Myths

There are many misconceptions that surround the bad credit cards. These are many times not considered to be a good financial backup. But, in the recent times, these perceptions are found groundless and the bad credit cards no more share the status of bad financial tools. It is not always the situation that these cards are available with exceedingly high rate of interest. It has become easier for the credit card holder to choose the best of these cards, as there are so many companies in the market with a number of decent offers. It is recommended to make a good research on the factors like financing fees, yearly fees, opening offers, credit necessities, accessibility of online banking etc.

Enjoying the Benefits

The benefits enjoyed by the bad credit card holder overshadow the factors like high interest rate and low credit limit. The bad credit cards have so much to offer to the people having a bad credit or no credit at all:

• First of all, it assists you to improve the credit score.

• Moreover, these cards help you to declare yourself to be a borrower with low risk with the passage of time. This will happen, as you will be in the position to pay off the monthly balance on time.

• This will secure your future chances of obtaining a loan. For this, all you have to do is to use the bad credit cards for every small purchase for one or two years. By doing so, you can rebuild the credit rating and impress the creditors with a good credit score.

The conclusion of above discussion is that the bad credit cards are the best friends for the people with a bad credit history. Thus, you can see that even a person with bad credit is capable of rebuilding the credit and improve the future prospective for getting a loan.

Credit Repair: Tips

The most crucial factor that influences the process of obtaining a loan for your home, vehicle or any other need, is the credit history. A bad credit score is the main obstacle in securing the loan from lenders. Thus, there is a need to repair the bad credit rating to impress the financers with your credibility.

Achieving the Perfect Score

There are many popular approaches to carry out the bad credit repair. Let’s take a look at them:

Debt Consolidation: This is the approach of consolidating all the debts as a single monthly installment. By following this process, the rate of interest is reduced and that facilitates you to lessen the amount to be paid as monthly installment. 

Paying a fractional settlement payment: It is the scheme recommended by several banks. In this you can propose to pay a fixed percent of your balance. The credit bureaus revise the status of your credit after they receive the documents from the creditors. The documents include a settlement form obtained from the creditor side.

However, these banks advise not to approach the finance companies that provide counseling on bad credit repair. Declaring yourself bankrupt is also not suggested because it restricts the  chances of getting a loan in the future.

• Limiting the number of credit cards: It is advisable to keep a check on the number of credit cards you can afford. You can close the idle credit accounts after settling the bills and keep the regularly used cards alive. On the other hand, the less number of credit cards are also not advised.

• On time Payments of Small Purchases: There are cases, where people prefer to add their accounts of a departmental store or gas agency to their credit cards. Thus, the on time payments of small purchases will improve the credit score.

Credit Rating agencies

There are a number of dedicated bodies that keep record of credit rating of individual as well as business units. These agencies, known as credit rating agencies, may be companies or nonprofit bodies that provide debt security in a number of ways. These agencies prepare the credit ratings on the basis of status reports submitted by the financers, from whom a person or a business body has obtained the loans.

These status reports consist of information regarding payment history, on time payments, debt balance, limits of credit etc. Thus, on the basis of this information a credit report in prepared and maintained.

The process of repairing the bad credit history is not a trouble-free task. The main causes that results in a bad credit score are delayed repayment of various loans and thus, the accumulation of an enormous amount of debt. One could not achieve the improvement in credit score in one night. This process if carried out in a slow pace, following the suitable steps with uniformity, will no doubt lay a strong foundation for your future.

Credit Repair: Bad Credit Car Financing

The literal meaning of term bad credit is poor credit scoring. This term is used for the person having had credit record due to non repayment of loans, bills, mortgages, services on time and such person is admitted as “high risk” for financial firms. The meaning of bad credit for an ordinary person is ineligibility to get loans at relevant rate of interest. This surrounds us with a question: Is it advisable to apply for car loans in the situation of bad credit?

Analyze the Implications

The bad credit situation has many bad effects:

• First, your application for the car loan could be rejected.

• The second negative effect of bad credit is that the lender can charge high rate of interest.

• The third bad result of bad credit is that seller may offer you car at a higher price than its actual price.

Even if a specialized lender gives approval to your application for bad credit car loan, this does not mean that you achieved the goal. You will have to repay the amount you have received as loan and also the rate of interest on it. A person with decent credit rating can acquire car finance at a low rate of interest of just 10% and the term of loan for him could be 7 years. On the other hand an individual with bad credit score can get car finance at a rate of interest ranging from 5% to 26%.

The term for loan for a person with bad credit rating will be just 2 to 4 year. More than this a bad credit scorer may also be required to pay 50% of total amount as down payment.

Analyze the Solution

Thus, we can see that a bad credit car financing is not a good idea. If you are very serious to buy a car and that too in a few days, then it’s recommended to go through some questions. Are you capable to pay high rate interest? Are you ready to willing to give up a large chunk of your salary to pay for a car every month?

So, is there no way out for getting a car loan with bad credit rating? No, let’s find a solution.

The finest way to keep away from the bad effects of bad credit car finance is not to think of getting one. First of all, start in the direction of improving the credit score. If you find some irregularity in your credit report don’t take time to inform it. Handle your finances efficiently and start making payments on time.

Remember, it may take a few months to improve your credit score. Taking this into account, you can push back your wish of getting a new car. Be determined to turn your bad credit to good and you will see that it was worth waiting for a few months to get a new car.

Credit Repair: Mortgage Options

Dreaming of buying a new home? Desperately want that new car, which is latest in the fourwheeler market? But all your aspirations and visions go up in a smoke, due to lack of monetary funds, more so with bad credit score.

But times are changing for the better, with a fiercely competitive loan market; lenders are literally trying all gimmicks to attract potential borrowers, even though they may have bad credit rating. Some of the things you may require for getting credit finance with bad credit are as follows:

Average Deals-The best deals are reserved for those borrowers with very good credit ratings. So don’t go for mortgage financing thinking that you can secure a good loan deal with bad credit. But nevertheless fair loan deals are available to pull you through your financial predicament.

Credit Score-A zero down loan finance may give you freedom from any security and property pledging. But this again depends on your real credit ratings. Mortgage amount can be procured even with a low credit rating of 600, with all legal documents and paper proofs. 

Two Type mortgages-Borrowers may avail two type of mortgage facility. In a 75/25 or 85/15 offer rates, which allows them to save and the whole procedure may not need any insurance.

Mortgage Security-You can always take secured loans even with poor credit, if you have any property or real estate in your name. This will satisfy lenders as they appreciate the value of your asset and they also become partially risk-free as they have a security cover. 

Traditional Ways-Traditional mortgage system will access you to credit even with bad credits. With competitive interest rates you may still pick on the right loan deal.

Rebuild Credit-Before taking out a loan for a new home, try and build up your credit score. It may hold your planning and visions for a while, but it is worth the effort.

With good credit you may get a better loan deal with large amount and lower interest rates. If you really plan your way you can achieve the impossible.

Careful Analysis-In your haste to get a loan deal, you may end up signing wrong loan deals and the lender, knowing your desperate condition may try to take advantage of your plight. Don’t let that happen. Sign contracts after careful study and analysis. You need to read the complete agreement papers slowly and carefully to find out any pitfalls that may later be regretful.

There are different types of mortgage loans in the market, like fixed interest rates, flexible payment schemes, low interest rates, etc. Even online loan portals give you fairly good deals and more relevant information. But ascertain their reputation before you sign a loan deal. Rest assured, you may get the needed finance albeit with poor credit score.

Credit Repair: Bad Credit Loans

Loans are the part and parcel of life of a lot of people today. The moment you need a loan, your application for loan may be denied due to variety of complications in credit reporting. Bad credit loans can assist you in getting rid of this type of problems. Banks, financial institutions or credit companies offer bad credit loans.

Bad credit debt consolidation is the real bummer for a large number of Americans who consider that their credit score is not good enough. The deprivation from job for long period or condition of unemployment can create credit problems for some people. Some people may not have sufficient savings. Several companies provide bad credit loans for people with bad credit to help them in maintaining stable financial situation or to save them from condition of being denied for loan.

Service of Debt Consolidation

It is the best option to search the service of debt management for bad credit on Internet, as it is not generally found in every place. An online bad debt consolidation service will help you to get rid of your debts, strengthen your credit and improve your credit score.

Methods of Debt Consolidation

Never ever visit to those lenders or financial companies for debt consolidation from the ones you have already borrowed money from. They make money out of your debt so, they will be careful while paying you.

Credit card Debt Consolidation is a relevant option for debt on credit card as it assists in combining remaining balances on credit cards into one big loan or a credit card, which will have less rate of interest than your present loan.

It is also a good option to shift finances to any card with less rate of interest in case the rate of interest on present scheme of cards increases.

Example of Debt Consolidation

Here is one example of debt consolidation:
Just assume that your remaining debt on card is $10,000, and the annual rate of interest on this is 20%. You will deposit about $2000 in charges on the remaining balance of $10000 in a year. A handsome amount of money can be saved through shift of balance to a consolidated debt credit card or balance transfer to cards with less interest rate. You will be able to save nearly $1000 annually, if you get a new loan or scheme of credit card with 10% annual rate of interest.

Credit card debt consolidation scheme consolidates all the outstanding balances into one large loan with less rate of interest. You can take our assistance in decreasing the rate of interest on your monthly installment of loans to a great extent and make timely payments by making use of our program of credit card debt consolidation. Try to repay debt on credit card as early as possible. You can decline expenditure on interest and make payment of debt early by combining debt on credit card or shifting balance to credit card scheme with 0% rate of interest.

Using A Secured Credit Card For Credit Repair

Anyone who has ever had a credit card, paid a monthly bill, or taken out a loan has a credit rating. Whenever you have a service, or otherwise owe money to a creditor, the creditor reports to a credit reporting agency that compiles a credit report for you. If you start missing payments on a credit card or loan, or -- worse -- your creditor sends one of your outstanding debts to a collection agent, a negative mark will go on your credit rating, which will often prevent you from getting credit in the future.

If you find yourself in this situation, it is imperative that you take steps to repair your credit rating as soon as possible. Although it seems like a daunting task, if you do nothing your credit rating will remain the same for up to seven years, causing you all sorts of hassles, and preventing you from obtaining any type of loan.

An important step in credit repair is the acquisition of a secured credit card. Generally, if you have bad credit, you will be turned down for any credit card application. This puts you in a bind, because without a credit card you have no way of improving your situation by proving to creditors that you can pay your bills on time and responsibly.

To engage in credit repair, you should look into what is called a "secured credit card." This is a credit card marketed specifically to people with bad credit. Generally, these cards work by requiring an initial deposit that is equal to your credit limit. In other words, if you make an initial deposit of $500, you will have a credit limit of $500. The issuer will then reserve the right to use your deposit against any outstanding balance on the card if payments are not met after a certain amount of time.

As you can see, this type of card carries no risk for the issuer (because they can always use your deposit against the balance - you'll never end up "owing" them anything), and therefore can be freely issued to people with bad credit. Unfortunately, most of these cards will have yearly annual fees that regular credit cards are often free of.

Once you have a secured credit card, you can engage in credit repair by using it sparingly but regularly, and making sure you make all payments on time. By doing this you will slowly repair your credit. What you will be doing is demonstrating to creditors that you are responsible and can be trusted with credit.

If you don't take steps towards credit repair by doing things like getting a secured credit card, your credit rating will effectively remain in a static state for years. Credit reporting agencies will keep any marks on your credit report for 7 years, so unless you are willing to wait that along, it is imperative that you take the necessary credit repair steps. By obtaining a secured credit card and using it responsibly, you will be able to reduce the 7 year wait period before being offered credit again.

Obtaining Your Credit Report - The First Step In Credit Repair

Your credit rating is one of the most important things in determining your economic status. With a good credit rating, you will have no problems obtaining loans, mortgages, credit cards, etc. . . But if you've missed payments with a creditor in the past, your creditor will report this to a credit reporting agency, which will make a note of it on your credit report. Once you have a bad credit rating, many doors will be closed to you: you'll be unable to obtain most kinds of loans, and without a credit card you won't be able to shop online, or rent a car. For these reasons it is important that you attempt credit repair as soon as possible.

The first step in credit repair is to obtain your credit report from your credit reporting agency. There are only a handful of credit reporting agencies in Canada and the US. You can determine which one holds your credit report when you are turned down for credit: your decided credit card application, for example, will indicate which agency provided the report.

It is always your right to obtain your credit report free of charge. To do you can visit the agency website and download an application, and then mail it, along with photocopied ID, to the agency. You should receive your credit report though the mail in a timely fashion. Credit reporting agencies also allow you to obtain your credit history instantly online, though a fee is charges for this.

Whatever route you choose, in terms of credit repair it's essential that you examine your credit report closely once you get it. You should be looking for any inaccuracies in your report. If you find any, you have the right to request an investigation in writing from the agency. Once you have requested that a particular item in your credit history be investigated, the agency must respond within 30 days providing documentation of the entry in question. If they fail to do so, the entry must be removed from your credit report.

When requesting that something on your credit report be investigated, you should send any supporting documentation if you have it. Although it is not common, in some cases the agencies make outright mistakes, or confuse your information with another customer with the same name. If an entry in your credit history is being investigated, you may also request that the agency mark the entry in question as "under investigation" on your file.

Although it can seem like a cumbersome process, it is absolutely imperative that you obtain your credit history before you attempt credit repair. Without your credit history, you won't know exactly where you stand, only that your credit is "bad." What you need to know is how bad credit is, and why. For example, are you dealing with a single outstanding issue or multiple ones? How long has the problematic mark been in your credit history, and for long will it remain? Knowledge of these things is essential in order to begin the process of credit repair effectively.

Contacting Creditors To Help With Credit Repair

Having good credit is almost a necessity on today's world. In most cases, credit it essential to owning a car or home, and with the proliferation of online shopping it's hard to be without a credit card. Unfortunately, some people get into trouble with their credit. They miss some minimum payments on their credit card, or let a loan go into default. When this happens the creditor will report it a credit reporting agency, who will add it to your credit history. Once your credit history is blemished, it can be difficult to repair: most things will stay on your credit history for 7 years before they are removed.

Once you're in a situation where you have a bad credit history, you'll find yourself dealing with many previously unknown problems: you won't be able to rent cars or purchase things online; landlords will hesitate to rent property to you; a mortgage may be difficult or impossible to get. This is why it's important to engage in credit repair as soon as possible: you can do wonders for your credit repair by taking proactive an early action.

One of the best things you can do if you've fallen behind on payments is to contact your creditor. Many people, alas, take the opposite approach: they feel a sense of embarrassment or shame and avoid calls and contact with their creditors. This type of behavior is shortsighted and will result in long term credit difficulty.

The best thing you can do in terms of credit repair is to contact your creditor as soon as you run into trouble with a debt. Remember that the key to credit repair lies in your credit history report, and the report depends on whether or not your creditor reports you to the credit reporting agency. In most cases your creditor will be open to discussing alternate payment plans and solutions. Keep in mind that it is not in the creditor's interest to push you away, as that could mean they get no payment at all. Instead, the creditor is likely to be open to discussing terms.

For these reasons you should always contact your creditor to ensure faster credit repair. Once you contact them, propose a payment system that is realistic both for you and the creditor. It is absolutely essential that you propose a payment plan you can stick to, and that you stick to it. The absolute worst thing you can do is default on these payments - if you do so it will seem like you were simply stalling to avoid payment from the creditor's points of view.

In general, when contacting your creditors in regards to outstanding debts, remember that their decision as to whether to report your non-payment to the credit report agency will affect you greatly, and it is in your interest to do everything in your power to convince the creditor not to do this. By contacting your creditor early and proposing a realistic payment system, you take one of the most effective steps possible towards credit repair.

Be Cautious When Considering A Credit Repair Company

Most people have some sort of debt. Almost everyone has a credit card balance, an outstanding student loan, or mortgage and car payments. All these loans and their payments result in a credit history, which most people don't usually give too much thought too until it's too late. Your credit history can have a major influence on your life, and once you credit history becomes poor you will find yourself unable to rent cars, obtain services without deposits, or get a credit card. This is why, if you find yourself in this situation, it is important that you take steps towards credit repair as soon as possible.

Many people will find their poor credit history to be overwhelming, and will be tempted by one of the many companies online that offer to "fix bad credit" for a fee. Although there are some situations where these companies may of use, for most people they are not necessary, and should be avoided.

The reason credit repair companies aren't useful for most people are because they rarely do anything that you can't do yourself. These companies will give the impression that they are doing things you wouldn't normally be able to do on your behalf, but it most cases they are not.

The general strategy of many of these companies will be to have you first request your credit report from the credit reporting agency, and then to launch numerous challenges to the report in writing. The idea here is not that there are necessarily many (or any) mistakes on your credit report, rather you are trying to take advantage of a legal obligation on the part of the credit reporting agency: namely, that all requests for investigations must be responded to in 30 days. If the agency doesn't respond to you in that time (and it's unlikely they will if you challenge multiple items) they must remove the item in question from your credit report.

While this may initially seem like a clever strategy, it's important to understand that there is nothing to prevent the credit reporting agency from putting the removed items back onto your credit report once they find the proper documentation. In other words: they may not be able to produce the documentation in 30 days and have to remove something, but they will keep investigating, and once they find the documentation the item will be restored to your credit report.

Besides the somewhat dubious strategy that most credit repair companies employ, you should also be careful to avoid any scams. Be advised that these companies are legally bound to render all promised services before accepting any payment from you. They are also obligated to clearly outline all fees and services that will be provided. If you do decide to use the services of a credit repair company, make sure you look over all the paperwork and fine print provided. 

In most cases for most people, a credit repair company shouldn't be necessary. The only  time you should use one is if they are truly able to perform services you can't do, or don't have time to do, on your own.

Credit Repair - How To Deal With A Credit Bureau

Having good credit is an essential tool in today's economy - it allows you to have a credit card, to obtain car and house loans, and many other conveniences. While you can live without good credit, a bad credit rating will certainly affect you negatively throughout your life. The key to your credit rating lies with a credit bureau. There are a handful of credit bureaus in North America that handle all reports - positive and negative - from creditors to create a credit report specific to you. If you have a poor credit history, you must take steps to engage in credit repair, and one of the first and most essential tools is to learn how to effectively deal with your credit bureau.

Credit repair begins with determining which credit bureau holds your file. To do this simply look at any rejection letter from a credit application - the letter, in refusing you credit, will indicate which bureau proved the rating. The next step is to obtain your credit history. Keep in mind that legally it is always free to obtain your credit history if you have recently been denied credit, although many organizations will imply that it is not. The only time you should pay money for a credit report is if you want to receive it instantly, in which case credit bureaus will provide an instant online report for a fee.

When dealing with a credit bureau, understand that they are in the business of collection and selling information. For this reason, it is in your interest to never provide them with any information that is not legally necessary. Legally, you only need to provide a credit bureau with your name, social security number and legal address in order to obtain your credit report. The bureaus may request a copy of your social security card, and - if the address they have on file is different from your current one - a copy of something proving your address. Although they may ask for a driver's license to prove your address, send them a copy of a bill showing your address. The reason you want to be cautious when dealing with credit bureaus is that they own many collection agencies, and if you have a credit problem you want to give them as little information as possible with which to harass you with.

Once you have received the report, examine it closely for any errors. If anything is in question, send a written request for an investigation to the credit bureau. Legally, the onus is on the credit bureau to document anything on your credit report - if they cannot document it within 30 days, it must be removed. This is the basic strategy of many credit repair companies that charge exorbitant fees: challenge everything negative. In many cases if the negative item is more than a few years old it will be difficult to verify and the item will be removed.

By learning to properly deal with a credit bureau you can engage in effective credit repair that other companies change high fees for. By educating yourself as to the legal obligations of the credit bureau, you can, in many cases, repair your own credit quickly and effectively. 

Why "Do It Yourself Credit Repair" Is The Best Option

Having a good credit rating is one of the essential tools to leading a successful economic life. Although most people don't give their credit reports much thought, good credit allows for many things that are usually taken for granted: credit cards, car rentals, hassle free loans and apartment rentals etc. . . Every time you miss a payment to a creditor, the creditor will report this to a credit bureau, and it will be added to your credit report. If you do this too often, or let loans go into default, you will find yourself needing to engage in credit repair, as you will be consistently turned down for credit cards and most other types of loans.

If you turn to the internet or classified ads when beginning your research into credit repair, you'll likely notice many, many offers from companies offering credit repair services. Most of them market themselves aggressively, and claim that they can fix your credit report quickly for a fee. You should be very wary in dealing with these companies - not only are many of them scams, in most cases you can repair your own credit more effectively.

It's important to understand that there is nothing a credit repair company can do that you can't do yourself. In other words: even though they may imply so, a credit repair company is not in cahoots with the credit bureau, and cannot get poor marks on your credit rating "erased." What's most likely to happen is that the credit repair company will encourage you to obtain your credit report from the credit bureau, and to challenge negative items on the report.

In some cases, credit repair companies will even go so far as to engage in activities of questionable legality. Namely, they will encourage you to start a "new" credit rating through a change of address and banking information. This practice is not legal, nor is it usually effective. A far better approach to credit repair is to do it yourself. If you search online you'll find many sites offering step by step advice - your best bet is to look at advice from a government source or other trusted organization.

The best approach is to first obtain your credit report from the bureau. Once you have the report examine it closely, and challenge, in writing, any errors on the report. Only challenge items if there are genuine errors - if your report is error free, you will have to engage in the traditional methods of credit repair. The best way to start is to obtain a secured credit card and use it regularly. In this manner you will be to slowly repair you're credit rating.

By being patient and making smart budgeting decisions, you will be able to pay your creditors on time. In doing so you will eventually prove to them that you are suitable for credit. Although credit repair in this way is a slow process, it is the only truly effective one. This do-it-yourself approach will be far more successful in the long run than employing a credit repair company.

Some Steps Toward Credit Repair

Credit is an essential tool to most people's lives. A good credit rating allows for many things that we take for granted: having a credit card, being able to rent property, qualifying for in-store financing etc. . . If you fail to make payments towards a creditor this will affect your credit report collected by your credit bureau, and will make doing the above things difficult if not impossible. When your credit rating becomes poor, you must take steps as soon as possible to repair it. Credit repair can be a slow process, and requires that you build a better credit rating over time. Here are some steps you should take:

1) Add accounts to your credit report. If you are denied for credit, you should immediately obtain your credit report from the credit bureau in question. Once you have the report you should examine it closely for errors. In the event that there are no errors, you may find that your credit rating is "poor" not because of outstanding debts, but because you don't have enough of a credit history to inspire a good rating.

Many types of credit from smaller organizations are not tracked by credit bureaus. Things like gas-cards or department store cards are not usually on your credit report. As long as the account is verifiable, most credit bureaus will add it to your file. They are not obligated to do so, and thus usually charge a fee for this service. By adding these accounts to your credit report you will establish a better credit rating.

2) Credit Counseling. Once you become mired in debt, the process can feed on itself, and it can be difficult to get out of it. If you find yourself having continual problems with your credit repair, you should consider credit counseling. It's important to notice the distinction between a credit counselor and a credit repair company. The former is usually a non-profit service that offers advice and guidance on credit repair, while the latter are for-profit companies of dubious ethics that generally charge fees for steps that you can easily take care of yourself. A good credit counselor will help you make a realistic budget and stick to it, and help you make practical decisions with regards to your outstanding debts.

By adding whatever accounts you have in good standing to your credit report, and seeking credit counseling if necessary, you will make headway into your ultimate goal of credit repair. The difficult thing about credit is that it takes a long time to build a good credit rating, and a very short time to destroy it. When your credit rating has been marred you have to understand that there is no quick solution: you will have to build your credit rating again - essentially from scratch. If you avoid the temptations of credit repair companies that promise a quick and easy credit repair for a fee, and think instead of long term changes to your budgeting and spending habits, you will - over time - be successful in credit repair.

Credit Repair Through Credit Counseling

Like many other things in life, budgeting is a skill. Some people are better then others at managing their income and keeping in good standing in regards to their debts. Almost all of us have some sort of debt at any given time: a credit card bill, and outstanding loan, or a mortgage. By managing these debts properly, you will maintain a good credit rating which will allow you to continue to receive credit in the future. If you fail to make timely payments towards your loans - or worse, you let them go in default - you will find yourself stuck with a poor credit rating, which will rob you of many economic opportunities. In order engage in credit repair, you must slowly build your credit rating back up again. One thing that can help you do this is to seek the help of a credit counselor.

In general, credit counseling is performed by non-profit agencies, and is not to be confused with for-profit credit repair companies. The latter should be avoided. Credit repair companies have a reputation for being scams, especially those ones who advertise online. Even if it doesn't turn out to be a scam, it's likely that a credit repair company will do nothing that you can't do yourself: they'll direct you to obtain your credit report and challenge all negative items on it, and may even suggest you attempt illegal activities like getting a "new" credit rating thorough a different address.

In contrast, a credit counseling service will only provide advice, and in a context that precludes a profit motive. This is the best and most intelligent way to engage in credit repair. To deny that rebuilding your credit rating will be a long process requiring time and discipline is to do yourself a disservice, and a credit counselor will help you make the long term plans and decisions you need to in order to engage in effective credit repair.

Most good credit counseling organizations will provide you with advice and workshops, as well as educational materials. They will help you learn to both make and stick to a budget, which over the long term will be extremely beneficial to your credit rating. They will also be able to provide you with one-on-one counseling, so you can examine and learn to make good economic decisions based on your particular credit experience.

The problem with credit repair companies - and the reason you should be suspicious of them - is that they propose a quick, one size fits all solution. Anyone who claims they can quickly fix your credit without knowing anything about the situation is not being truthful. A credit councilor can be crucial in providing exactly the kind of particular attention that a credit repair company will avoid.

Most importantly, if you engage in credit repair by using a councilor, your solutions will be more long term, because you will be learning how to manage your budget more effectively, and making permanent changes to your spending habits. This is far preferable to paying a credit repair company that promises a quick solution that is of no educational value to you.

Credit Repair Through A Collection Agent

Credit ratings are based on your credit report. When banks, credit card companies, or any other business loans money to you, they report to an agency your status in terms of making your payments on time, etc. . . The agency then compiles this information into a credit report, which is the ultimate gatekeeper to your credit rating. Negative marks on your credit rating will stay there for 7 years, preventing you from getting most kinds of loans.

When you begin to lapse in payments to a creditor, whether it be loan payments or credit card or financing payments, the creditor will go though various steps in an attempt to receive payment. After a (usually long) serious of warnings, the creditor will eventually sell your debt to a collections company. When a creditor does this, they are effectively "writing the loan off" as they generally sell the debt to a collection agent at a heavy discount. Basically, the creditor has decided that their chances of recovering the loan are small enough that they are willing to lose as much as half of its value in order to stop pursuing it. When this happens the creditor will inform the credit reporting agency, and you will be left with the lowest possible mark on your credit report, which will affect your rating for up to 7 years.

A crucial step to credit repair is take steps to avoid this "writing off" of your debt. You should act as soon as possible after being contacted by a collection agent. The first thing you should do is contact your creditor - not the collections company - and see if you can arrange to clear the debt with them. In many cases, if you agree to repay the debt immediately to the creditor, they will remove the "gone to collection" mark from your credit rating - essential to quick credit repair.

If your creditor is unwilling to do this, you're stuck with the collection agency. In terms of credit repair, keep in mind that the mark on your credit rating can't get any worse at this point - the debt is already gone to collection - so take time to consider all of your options. Usually, the collection agent will contact you in an aggressive manner demanding immediate and full payment of the debt, and imply that they will take you to court if this doesn't happen.

It is to your advantage in this situation to understand that the collection company has likely bought your debt at something close to half its value, so any payment higher than that will result in a profit for them. Try and offer to pay less than the full value of your debt immediately. In most cases the collection agent will be motivated to close your file as soon as possible to avoid the process getting dragged out. They will usually be willing to accept a quick payment at a discount so they can move on..

In order to achieve credit repair as quickly as possible, always attempt to pay your creditor rather than the collection agent when your debt has gone to collection. If that fails, offer the collection agent a lower figure than the full loan amount. Full payment to a collection agent should only be offered as a last resort.

Credit Repair Through Debt Consolidation

Although everyone's economic status and situation is particular, almost all of us are in some sort of debt at any given time. This can mean small debts like credit card bills or in-store financing, as well as larger ones like outstanding loans and mortgages. What this means is that almost everyone is dependent on being allowed a certain amount of credit, and without credit many things that you take for granted will become difficult. The key to your credit status at any given time is your credit report that is maintained by a credit bureau. Once you fall into default, or miss payments to your creditors, your credit bureau will receive notice and you will find yourself saddled with a poor credit rating. Effective credit repair involves many different steps, and is particular to each individual's situation. A good solution for most people in terms of credit repair, however, is debt consolidation.

One of the most important things in credit repair is to act quickly. Although your credit rating will become damaged as soon as you begin to miss payments to your creditors, it will get continually worse if you continue to do so. Many people get confused into thinking that credit is either "good" or "bad," and that once they get into trouble with a creditor it's fruitless to try and rectify it. The opposite is true, however, so even if you are in bad standing with creditors, credit repair requires that you pay off your debts as quickly as possible.

The problem, of course, is that you probably don't have the money to pay off the debts, after all, your economic situation probably was the reason for the missed payments in the first place. It is for this reason that debt consolation can be an excellent tool in credit repair. It works by consolidating all of your debts into one loan. In other words, if you have multiple outstanding debts, you take out a loan from one company, use that loan to pay the debts, and then make payments only on that loan.

What debt consolation achieves is some flexibility in situations where your debt is becoming unmanageable. Although you will ultimately owe the same amount of money, you could get a debt consolidation loan over a long term, so that your monthly payments will drop. Most importantly, debt consolidation immediately puts you back on solid footing with your creditors, and ultimately bodes well for credit repair. Things won't be perfect, but your creditors will report that you have cleared up your debts, and so the process of credit repair can begin quickly.

Debt consolidation is an important tool in credit repair because it allows your status with creditors to change very quickly: you go from someone on bad terms with multiple creditors to someone on good terms with a single one. It allows you to stop the damage before things get out of hand, and gives you the breathing room you need to engage in credit repair. In this way intelligent debt consolation is a valuable tool in credit repair.

Bad Credit

For lots of people being marked as a bad credit risk is like being ostracized by society, the very same society that thrives on credit! What a contradiction! Once this bad credit label is attached, internally the wounds are deep for the person. And the view of the community, and the world around is colored by that. They are afraid that their neighbors know, and imagine gossip within the community.

Frankly, the issue is overblown. That is borne out the statistics that are regularly put out by the Federal authorities that nearly 40 to 45 per cent of the people have bad credit.

All that talk does not help of course. Once bad credit is invoked, doors that were open earlier are no longer the same. That’s the downside of bad credit.

What a person with bad credit needs to understand is that it is not the end of the world. Those two words mean only that future suppliers should be careful in dealing with you. Yes, at best you may be asked to pay up a little earlier than before. And it should be expected. You would behave in the same manner if you were in their shoes. Think about it.

There are loads of people, and enterprises who know how to repair a bad credit situation. There are a whole range of books that are available, ranging from the simple to the complex, which at least educate, if not help, people about it, and the various steps that could be taken to get over it. There are e-books, cds, DVDs, videos. You think of any form, you can find it.

It is there because the numbers of people who have bad credit are large as well. While it may be no consolation to be amongst that company, at least you are not alone in it. Self-pity and feeling ashamed does not help. What really helps is that you should start taking steps to redeem yourself in the eyes of your creditors, that "look I know I have bad credit, but I am going to pay back every penny, and till then, I need your support and understanding". That's the positive way.

Read up or download those books. Software is also now available which helps you not only to find out your real bad credit, but also helps you track your finances, and points fingers at certain transactions that may have been overlooked by the credit agencies, and even signals you when you are approaching what may become bad credit for you!

When you are caught in this bad credit bind use real money instead of plastic You will yourself spending less, and you are less likely to be tempted by the strong forces that drive the consumer market. Stay within yourself.

So buckle down, use the books, use the community services and seminars by the finance companies, and learn the techniques and tools on how to cope. You can always hire a counselor if you can't handle it on your own.

The bottom line is that faced with bad credit, you should come out fighting to restore your own dignity yourself. All it requires is the first step and that is to say to yourself, I am going to get this over with NOW!

Credit Repair Kit

There are still people in the world who believe in doing things by themselves.

What about Credit Repair ? My credit rating was mud. And I wanted to help myself, by finding a self help credit repair kit. I knew I was not alone. So began a search for a self help credit repair kit that would be easy for me to use. I found thousands of them, books, cds, DVD, videos, and so on. But a self help person like me likes to peruse it slowly and chew it over and then act.

I was confused with the jargon of accountants and risk analysts. My neighbor who was pouring over a similar copy headed with that same book to the checkout counter! That should explain the diversity of people who use self help kits. Thus began a search for a book (meaning all other media as well) which provided self help credit repair kit, both for the layman and for the initiated.

I searched extensively on the internet, and read some pieces that offered free samples, but to get right into the heart, required subscription up front. That put paid to it. It was just a flash, and I must have clicked on it, and it took me to a site called Amazon.com where I discovered a book called Credit Repair Kit, and it was available for a dollar. Well, I could certainly spare that.

When it arrived, It was exactly the way I wanted it to be. Written by one John Ventura, the Credit Repair Kit was amazing. It was simple, precise, enough explanations for a simpleton like me which was in a way a self help credit repair kit. And it answered in simple language how the whole credit system works, the ratings, the reports, the bureaus, and supplemented with how to retrieve your credit status, and keep it there!

You can practically look up all kinds of self help credit repair kit e-books on the Net. That's what I learnt. You can download them on to your system and read it at leisure which is very convenient.

And now software is available for checking statements, flagging errors for your action, and also include software that helps you to keep track of your finances so that you don't overshoot the finance runway again, and land in the mud. It even looks up the reporting agencies for you and comes up spades!


There are a few basics that can't be changed. These are How, where, what, why and when. So here goes:

* How do agencies that report gather and evaluate your credit status
* How you should study your report.
" What should be done with errors in your report.
* How to ascertain your credit score
* Where am I going wrong with my credit
* When should I start the process of raising my credit status
" How to deal with theft of identity
* What Ways are available to retrieve my credit status and elevate it back to its original level
* What Tools and where can I get them for setting goalposts to keep me from problems again.
* When should I become alert to a potential danger

Self help credit repair kits, in whatever form, are useful and helpful. You have to choose your medium. And it brings back confidence that YOU can do it YOURSELF. And yes, don't throw it away. .............................

Credit Repair Program

Having credit repair problems? This is definitely for you. Traditionally, it meant talking to your bankers, engaging a counselor, enrolling in programs conducted by various authorities, including academics, counseling companies, colleges and universities, who taught very useful methods and tools for repair and avoiding credit status loss.

Here comes the bombshell.. If these tools could be taught by humans, then would the computer industry ignore this latent demand, given that the credit based debt is in staggering billions of dollars? No, Sir. They were bound to come up with something, and they have. After all the solution is provided by a human, and here comes a person who knows computer language as well, and writes the software for it, and pockets the greenbacks as the royalty on it rolls in.

Sounds a little like a "gimmick". it's not. And the endorsement comes from no less than Consumer's Digest which conducted extensive studies and tests of all those credit repair using computers software. And the claims have withstood their scrutiny. And endorsement. Most of them do help. These credit repair using computers software really work, and there are lots of software available.

These credit repair using computers software operate on all Operating systems. They flag errors in your reports, help correct them. Further the software for credit repair using computers comes with additionally bundled financial software which you can use to stay away from the debt trap, once you have recovered your credit rating to its original status where you were.

The software come with choices as well. A free trial for some days during which you can assure yourself and then buy. Or you can buy with a money-back guarantee. Detailed instructions are imparted to you on how to use it, and of course there is also a help facility available on the software itself. Even more, you also could have a choice of calling a toll free number to speak to an expert. That's why even a novice to a financial software can easily use it.

This is a good substitute or clone for a professional you would have used. That would have exposed to your community. But using the software for credit repair using computers in the relative anonymity inside your house, nobody knows except the vendor. Of course, he may ask you to be a reference for other customers, but then they are sailing in the same boat!

The software comes at a comparatively low cost compared to the fees you would have had to shell out for a counselor, and further, you pay only once. You can use the credit repair using computers software again and again to assist you in keeping your credit in check.

Go forward, and keep your finances healthy, and your reputation sound! Remember that proverb about the false cries of wolf.. repeated thrice, nobody will listen to you anymore.

And buy that software carefully choosing one that is genuine, and don't use credit!

Credit Repair Counselor

It is good to hire a professional for helping in your credit repair. It saves you quite a large botheration, and you get dispassionate advice.

Who is a Professional for Credit Repair? These are experts in the field with sufficient experience and qualifications to help credit repairs. They tend to be from banks or financial institutions, and have launched into their own business after gaining experience.

You need to choose the right professional for your credit repair. The professional must has a good reputation, good contacts, and integrity, and has a good time bound execution record. Always ask for credentials and references; check them. A little extra time spent will save you from additional headaches later. You can also check with your bank to recommend one, since they themselves use these professionals.

You don't have to start immediately, even if you are sure; have a couple of meetings with the professional, so that you become comfortable with dealing with that person. Always have a back up to call. It is important for you to attain your level of comfort; You should then launch yourself into your credit repair.

Once you have hired a professional for your credit repair, you must disclose all particulars to the professional about your finances, creditors and debtors. In turn you should be advised of your legal position as a customer, consumer, and debtor, and discuss in detail the plans to setting your problem right.

Consulting you the professional for your credit repair will prepare a “Balance Sheet" and an "Income and Expense Statement". Based on these, a monthly cash flow statement would be prepared. You should tell what amounts you "have" to spend, and what "can" be avoided. Once these Statements are ready, the professional for your credit repair then has a clear picture of what your financial scenario is, and on that basis, the various options available to you will be discussed.

These range from arranging another financial intermediary that offers you lesser interest exposure, to the professional sitting down with your creditors for you and get you some breathing time. Your sitting with your creditors reflects the desire to work through your problems. It helps.

The professional for your credit repair can also consolidate your debt, where one of your creditors pays off the rest and takes their debt on to himself, for an additional fee. This helps, since you now deal with only one person.

Once a method is chosen, the professional for your credit repair will sit with you and work out a long term plan for you by drawing up a time schedule in which everything right from school fees to payment of utility bills, everything, would be listed, and arranged priority wise, so that you can start repaying part of the debt over a period of time, including the interest.

You will have to adhere to that plan and make it work. You will of course, have initial problems.

Monthly reviews would be conducted by the professional for credit repair of your income and expenses and periodic meetings with your creditors or the debt consolidator, to show them and you, how you have managed that month, will be held.

At the end of it all finally, you should come out of the woods.

Consumer Credit Counseling Services

We are a country in debt and that debt can get out of control quickly which is why there is an ever growing need for consumer credit counseling services. These businesses specialize in helping people who are in debt over their heads and need help getting out of debt and back into financial stability. They are experts in helping people get out debt and get back on their feet.

How do you know if you need to find a consumer credit counseling service? Ask yourself these questions:

* Am I having trouble paying my bills each month?
* Am I constantly living paycheck to paycheck with nothing left over after my bills are paid?
* Do I get phone calls from debt collection agencies on a regular basis?
* Do I avoid answering those phone calls because I can’t pay the bills?
* Have I been unable to get credit for a car or home?

If you can answer “Yes” to any three of these questions, you probably should be seeking out the help of a consumer credit counseling service. All of the above questions are indicators that you might be in debt way over your head and you probably won’t be able to get out of trouble by yourself.

There are so many consumer credit counseling services that it might be overwhelming trying to find one that will meet your needs. Here are some things you must demand from a consumer credit counseling service:

* Everything should be provided to you in writing as to services they will be providing you
* Your fee should be a percentage of the amount of money they save you when negotiating with your creditors – not a flat fee.
* You should be advised of your rights as a consumer and what you can expect from them
* Their debt re-payment plan should be tailored to your personal needs – not a “cookie cutter” approach that can be used by almost anyone
* You should have the right to cease doing business with them if you are not happy with their services

Consumer credit counseling services can be great help when it comes to getting out of debt and staying out of debt. They will be able to help you devise not only a repayment plan for your creditors, but they will also be able to give you tools that will help keep you out of debt in the future as well.

Chinese Government Sovereign Credit Rating

Let's start at the very beginning..it's a very good place to start with. We know what Chinese Government means, what credit rating means, but Sovereign Credit Rating?

Simply it means that countries are rated the same way by other countries regarding their credit rating as we, individuals or entities are rated by our banks, financial institutions and creditors. That's it.

Since it is between independent countries, the word Sovereign, meaning the 'above all' is applied to the buying and selling of bonds, currencies, import and export of goods and services amongst the countries. Everything else remains the same. If we default, we are penalized, and if we persist in default, we are marked as 'risky', and if there is no improvement we are moved further back to bad credit. If we repair the credit default, we move back slowly as we continue to redeem our debts by whatever means.

Exactly the same applies to countries lending to each other.

In the case of the US of A, Standard and Poor's has been designated the authority to determine the credit viability of the countries to which the US Government can issue bonds, other instruments, and also weigh the pros and cons of dealing with countries. If the rating is poor, then obviously, normal standards would not apply with that country. Business in US is put on notice. Taking this further, raising or lowering the rating impacts positively or negatively the business interest in the country for whom it has been issued.

So Standard and Poor's raised the Sovereign credit rating of Chinese Government as improving, it means that the Chinese Government has taken steps to redeem the bonds and other instruments issued to it, and based on that 'improving' you can well assume that the Chinese Government had defaulted earlier in regard to the instruments issued before. Since the bonds are backed by solid money, the issuing country faces a problem with its own funds flow, just our creditors do, when we don't pay on time. And that signals to other countries that Chinese Government has to be tackled carefully when dealing on monetary issues.

Just like us individuals, countries that receive a higher rating than the existing one, it is an occasion for some happiness for that country as a whole. Downgrade is just the opposite. Neutral means wait and watch.

There is one difference however in Sovereign Credit. It is used between countries, either on their own, or jointly, to issue Sovereign Bonds or others to countries which do have low rating. This is done to help the country which is facing economic problems to rise above it, by creating infrastructure for its goods, which is then sourced by the other countries so that incomes rise in the receiving country, and the issuing countries get preferential treatment in the manner and prices of the goods and services received. It is known better as an "Investment in the future for ourselves". Be careful here. 'For ourselves does not mean only the US, but each of the countries which have issued those instruments. There are dissenting voices on this matter, but in a democracy the majority prevails, and nothing needs be said of the dictatorial or totalitarian regimes.

We need certain goods and services which are becoming expensive to produce ourselves for a variety of reasons. In the case of China, we find that it is a low cost country, and therefore it would be cheaper for our consumers if those goods and services come from China. Despite it having a low rating, the US Government would issue a small sized Sovereign Bond to China, to help it produce those goods and services we need. If China does defaults, we shrug it off as a loss, and look for a better place to invest in which may turn out to be better in its efforts than China.

So when China's rating is raised just that little bit, it means that things have gotten a little better for business with China.

Check Your Credit Rating For Free in the UK

Unlike in America, where it is mandated by law since 2003 for credit ratings to be provided free to customers by the credit information gathering agencies annually, such a regulation could not be found in the UK, despite best efforts.

During the search we stumbled across a site which provides a FREE check for your credit in the UK for its residents. This search was in 2007. We continue the search, but as yet seem to be barking up the wrong trees. If anyone of you readers in UK, or elsewhere, know about a such law on the subject in UK, we would be grateful for your bringing it to our attention. We will try and reward you. Perhaps, a note on that article mentioning your deed would be more valuable than any other offer, for your name would go across the world hopping on the longest virtual travel, since no one has discovered where the internet begins or ends!

What we have we share with you. Those of you in UK wanting to check your credit rating for free in UK, you can log into www.experian.co.uk and try it for a thirty day trial. During that period you can look up your record, and withdraw bore the end of that trial period. it has loads of other checks that you might want to try, and if you want it for free, be sure to check the rules for cancellation. There may be, we did not check that, a clause which if you don't formally cancel, your subscription is taken as renewed! That would take away part of the fun, wouldn't it?

There's another one which provides residents of UK lots of options for looking up credit ratings. On this site, UK residents can see their credit rating. On paying a small fee, you can obtain your own credit report. This is at the URL www.checkmyfile.com. It is a very good site which has a wealth of useful information. Americans regrettably have to paid for this service.

At the website www.annualcreditreport.co.uk too, you can look up the credit rating and get one annual report free for yourself. You have to login, provide the information it asks for and the site sends to your email id, and a password. Come back to the site, enter the code you received, and you can see it. They ask you to subscribe for their newsletter, receive it throughout the year. There are no compulsions as you may cancel when you like.

The best and easy way that appeals to this writer is to try and get a loan in the UK. If you get the loan at favorable rate, you have a good score. Bear in mind that the banks in UK are more conservative than American ones! If it is otherwise, you draw your own conclusions! You can try and ask for a look.. they should oblige I think. That's British fair play at work ..to your advantage again!

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