Find out more on Debt Consolidation Credit Counseling In Phoenix Now!
Tuesday, December 16, 2008
Commercials that advertise ways to obtain a free credit report often emphasize the importance of doing so because of the serious problems you can run into because of having a negative credit history. A person with a negative credit history will have an impaired ability to borrow money, get a good interest rate, and sometimes even get a good job.
Fortunately, a negative credit report is not permanent and thus can be made better. After seven years, the majority of the undesirable contents of a negative credit report will automatically be removed.
Even though financial mistakes that damage your credit report can be fixed, it will require seven years. In order to avoid waiting seven years to have better credit, you need to take good care of your credit history now.
Your credit history will be negatively impacted by late payments on rotating credit and loans. For that reason, paying such debts in a timely manner is very important. Having proof that you have been able to pay bills on time for one entire year is important when you meet a lender to borrow money. Some people are not organized and thus have a hard time making on time payments. If this is the case for you, be sure to pay off your bills as soon as possible.
There are times when you get behind on the payments and work out a payoff arrangement with credit card companies or store cards. This is a smart thing for you to do in the long run (but only if you cut up the cards and don't get any more credit lines), but it could be a negative strain on your credit history in the short run. Settlements of any kind will put a mark on your credit history.
Filing for bankruptcy causes serious negative repercussions to your credit history. Doing so will remain a part of your credit history for more than the standard seven years.
When lenders are trying to decide whether or not you can be trusted to pay back the money you wish to borrow, they will judge you by your credit history. Bankruptcies filed under chapter 13 stay on your credit history for seven years, much like other negative information. If you file for chapter 7 bankruptcy and thus do not have to pay back debts you have racked up, that information will remain a part of your credit history for ten years.
Loans are often offered to people with a negative credit history at interest rates three or four percent higher than normal. The financial decisions you make now can potentially affect you for the next seven or even ten years, so make sure that you take care when it comes to your finances.
Fortunately, a negative credit report is not permanent and thus can be made better. After seven years, the majority of the undesirable contents of a negative credit report will automatically be removed.
Even though financial mistakes that damage your credit report can be fixed, it will require seven years. In order to avoid waiting seven years to have better credit, you need to take good care of your credit history now.
Your credit history will be negatively impacted by late payments on rotating credit and loans. For that reason, paying such debts in a timely manner is very important. Having proof that you have been able to pay bills on time for one entire year is important when you meet a lender to borrow money. Some people are not organized and thus have a hard time making on time payments. If this is the case for you, be sure to pay off your bills as soon as possible.
There are times when you get behind on the payments and work out a payoff arrangement with credit card companies or store cards. This is a smart thing for you to do in the long run (but only if you cut up the cards and don't get any more credit lines), but it could be a negative strain on your credit history in the short run. Settlements of any kind will put a mark on your credit history.
Filing for bankruptcy causes serious negative repercussions to your credit history. Doing so will remain a part of your credit history for more than the standard seven years.
When lenders are trying to decide whether or not you can be trusted to pay back the money you wish to borrow, they will judge you by your credit history. Bankruptcies filed under chapter 13 stay on your credit history for seven years, much like other negative information. If you file for chapter 7 bankruptcy and thus do not have to pay back debts you have racked up, that information will remain a part of your credit history for ten years.
Loans are often offered to people with a negative credit history at interest rates three or four percent higher than normal. The financial decisions you make now can potentially affect you for the next seven or even ten years, so make sure that you take care when it comes to your finances.
About the Author:
Thinking of trying to lower your payments or the balance owing by negotiating credit card debt? Be sure to visit the Debtopedia website at http://www.debtopedia.com to get some helpful tips first.
posted by Credit Counseling at
11:23 AM
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If you've decided that you are tired of constant calls from debt collectors, it's time to do something about your old debts. If you feel that you are buried under your debts and it is impossible to pay your way out of debt, you are not alone. When you find yourself in this situation, you should consult a debt counselor, who is trained to help people like you achieve freedom from their debts. They can help you get your debt under control. They'll also help you plan a budget that you can stick to, and teach you good financial strategies. Their advice can help you keep yourself out of debt once you are finally debt-free, because you'll learn good spending habits in the process of reducing your debt.
Other choices when you find yourself faced with extreme debt are filing for bankruptcy, or trying to find a loan to consolidate your debts. Compared to these choices, debt counseling is an excellent alternative. If you file for bankruptcy, your credit rating will be ruined for several years. In some cases, you may even risk losing your personal property by filing for bankruptcy. This is a serious undertaking, and it should not be taken lightly. Bankruptcy should be your last resort if nothing else works to get you out of debt.
For some people, debt consolidation loans can work for paying off their creditors. However, the debt will still exist under the new loan, and many people do not alter their spending habits, landing right in the same place again increasing the stress caused by debts. Plus, because debt consolidation loans are offered to people considered high-risk, they sometimes require the use of collateral. If you are unable to repay the debt consolidation loan, you will lose this property.
Unlike these two often-used options, professional debt counselors work with you to create a repayment plan you'll be able to follow. They will also help you create a reasonable budget, so that you'll be able to find the money to pay back your creditors. It won't be easy, but with time you will pay off your debts. Then the phone calls will finally stop. Plus, you'll have the tools to keep yourself out of financial difficulties in the future. Many people fall into debt because they do not have a budget that they can stick to. By going through a debt counselor, you will be able to plan a budget that will keep you from overspending.
Other choices when you find yourself faced with extreme debt are filing for bankruptcy, or trying to find a loan to consolidate your debts. Compared to these choices, debt counseling is an excellent alternative. If you file for bankruptcy, your credit rating will be ruined for several years. In some cases, you may even risk losing your personal property by filing for bankruptcy. This is a serious undertaking, and it should not be taken lightly. Bankruptcy should be your last resort if nothing else works to get you out of debt.
For some people, debt consolidation loans can work for paying off their creditors. However, the debt will still exist under the new loan, and many people do not alter their spending habits, landing right in the same place again increasing the stress caused by debts. Plus, because debt consolidation loans are offered to people considered high-risk, they sometimes require the use of collateral. If you are unable to repay the debt consolidation loan, you will lose this property.
Unlike these two often-used options, professional debt counselors work with you to create a repayment plan you'll be able to follow. They will also help you create a reasonable budget, so that you'll be able to find the money to pay back your creditors. It won't be easy, but with time you will pay off your debts. Then the phone calls will finally stop. Plus, you'll have the tools to keep yourself out of financial difficulties in the future. Many people fall into debt because they do not have a budget that they can stick to. By going through a debt counselor, you will be able to plan a budget that will keep you from overspending.
About the Author:
Michael Benifez frequently contributes to http://www.everlife.com. The time has come to erase any doubts you may hold on the subject of stress of debt.
posted by Credit Counseling at
11:19 AM
0 Comments
The introduction of the internet has brought a lot of positive changes to our world and the business world is not exempted of this positive development. The internet has produced a lot of millionaires than we have in the past. Also, many businesses are now succeeding than they could before the advent of internet. The same thing can be said of the MLM business.
The Internet has seriously and positively impacted MLM because of the ease of reaching more people today. Since there are now over a billion people connected to this "International Network Of Computers" (Internet), MLM folks can now reach more people, unlike what was the case in the past.
And the beauty is that despite the wider reach of the Internet today, it's still far cheaper to reach more people (especially targeted people) than through the traditional mass media - radio, television and/or newspapers/magazines.
Unlike conventional medium, the internet makes it possible for you to promote your MLM business from the comfort of your home through your own personal website. With it, you will be able to reach millions of people and recruit lots of downlines for your online MLM business. But you must be ready to do the right thing and learn the best ways to market and reach these people on the web.
Luckily, you don't have to search far for tools that can help make the MLM business much easier and better for you. The internet has lots of tools that you can use. One of them is the teleconferencing opportunity and lots of MLM people like you are using it to propel their business to the next level. This makes it possible for you to bring together all your downlines and have conferences with in order to discuss on different ways to improve your MLM business.
There are still many more tools out there that you can use to improve your MLM business. But they require you to learn more about the world of the internet before you can start benefiting from them.
The Internet has seriously and positively impacted MLM because of the ease of reaching more people today. Since there are now over a billion people connected to this "International Network Of Computers" (Internet), MLM folks can now reach more people, unlike what was the case in the past.
And the beauty is that despite the wider reach of the Internet today, it's still far cheaper to reach more people (especially targeted people) than through the traditional mass media - radio, television and/or newspapers/magazines.
Unlike conventional medium, the internet makes it possible for you to promote your MLM business from the comfort of your home through your own personal website. With it, you will be able to reach millions of people and recruit lots of downlines for your online MLM business. But you must be ready to do the right thing and learn the best ways to market and reach these people on the web.
Luckily, you don't have to search far for tools that can help make the MLM business much easier and better for you. The internet has lots of tools that you can use. One of them is the teleconferencing opportunity and lots of MLM people like you are using it to propel their business to the next level. This makes it possible for you to bring together all your downlines and have conferences with in order to discuss on different ways to improve your MLM business.
There are still many more tools out there that you can use to improve your MLM business. But they require you to learn more about the world of the internet before you can start benefiting from them.
About the Author:
Don Pedro gives interesting articles about Mlm Companies Malaysia , as well as Mlm Autoresponder Leads on the website at http://www.about-mlm.com
posted by Credit Counseling at
5:17 AM
0 Comments
