In our last article, we discussed the first three steps to repair bad credit. After checking your personal credit report; cleaning it up and freeing it from errors; and negotiating with your creditors; what else can you do? Keep old accounts active. Some people may try to cancel some credit cards right away in an…
Good credit habits are nurtured. It requires conscious effort to keep your personal credit in good standing. Unfortunately, many people had to learn the hard way about the importance of correct financial management. In this article, let’s discuss specific credit habits that everyone should implement throughout their lifetime: Keep credit card charges minimal. Many…
Are you suffering from poor credit? And are you convinced you need to attain complete credit repair, as soon as possible? If you answered “YES” to these two questions then, we encourage you to employ the suggestions we have listed below. We firmly believe that by doing so, you can gradually fix your credit history,…
Major events in our lives can affect our personal finances. But since all of us are bound to encounter big changes at one point or another, the best thing we can do is be prepared. In this article, let’s discuss three major life changes and what you can do when faced with financial crisis. Unemployment…
You are sinking deeper and deeper into debts. You have tried using a personal monthly budget. You cut down much of your unnecessary expenses. You have also read and employed a lot of self-help methods of controlling your debts. But despite all your efforts, you cannot seem to work on attaining bad credit repair. You…
Just as credit cards are widely-used in the United States, the plastic form of payment is also enjoying huge popularity in Canada. Although using credit cards for payments is convenient and easy, it also presents a negative threat – credit card debt and bad credit.
Bad Credit History and Credit Card Debt
Being in stuck in credit card debt often leads to bad credit history. As you carry over your balances from month to month, you also incur the additional costs such as interest rates and late penalty charges.
Every consumer must think about maintaining a good credit history. But maintaining good credit may not always be so easy. In this article, let’s discuss the factors that can lead you to bad credit and how you can avoid them:
Occasional Late Payments. You final FICO score is based upon 15% payment history. Have you been prompt in paying your bills? Or were you often delayed submitting payments? Even occasional late payments can badly affect your credit score so pay attention.
Everybody knows how important it is to keep credit history in good standing. This can be achieved by controlling your spending, promptly submitting payments and keeping up with your credit card bills. However, despite your best efforts, it is possible that your credit history be affected or even damaged by fraudulent acts and violations.
My divorce was final six months ago, and we split the debts 50/50. Unfortunately, ALL of the debt was in my name because of his poor credit before and during the marriage. The total debt is $60,000, but it’s all on my credit report. All are being paid on now, but several are very past due because he wasn’t paying at first. So now I have 120+ day late payment marks on my credit report. Now I have having horrible trouble getting financed for a car because of this. I have no vehicle because of a bad car accident.
What should you do when you’re in the middle of a debt crisis? Any one of us can be caught up in debt problems and knowing what to do can make a big difference in how we survive. Below are the steps on how to deal with debt the right way.
Know your real debt.