Docstoc

Credit Repair

Document Sample
Credit Repair Powered By Docstoc
					Credit Repair - Take Some Tips With You On Your Credit
                     Repair Journey
_____________________________________________________________________________________

                           By Henry Hedaya - http://eclipsecredit.com


When most people talk about a particular internet business method there is usually a certain amount of
existing knowledge that is taken for granted. Just as a quick example of what we mean, Credit Repair is
an area that very many beginners will not have full knowledge about in the first place.

So you can easily see that it really can be dangerous to attempt some strategies until you are completely
sure of what you are doing.

What we will talk about in this article assumes a certain level of previous learning. Be forewarned as you
travel in your journey because always suspecting there is something else that is part of the puzzle will
keep you sharp. If you do not have a lot of experience, set up all you do with your marketing so you can
see the results in some quantitative way.




It can be stressful to deal with having bad credit. It can be frustrating when you think back on all the
poor credit decisions you made in your past. It is time to take action and rebuild your credit score. Keep
reading for more helpful tips.
One of the best ways to begin repairing credit is to start re-establishing it. Using a prepaid credit card
will help to build your credit score, without the worry of late payments, and bad marks on your credit
report. This helps prove to lenders that you're credit worthy and responsible.

Contact your creditors to request a reduction in your credit line. By doing this it will stabilize you in your
financial boundaries instead of letting you extend beyond what you really should.

The first step to repairing your ailing credit is to create a manageable, feasible financial plan. You need
to make a commitment to changing your spending habits. Limit your purchases only to things that are
absolutely necessary. Ask yourself whether every purchase is both affordable and necessary, and only
buy if the answer to both questions is "yes".




You can fix your credit by having small credit card balances. For example, you can hurt your score if you
only keep your balance above $1800 when your card has a $2000 limit, even with prompt monthly
payments.

Make sure you pay all your bills on time. You can also seek credit counseling for help.

Good credit scores allow you to take out loans, buy a house, and make other large purchases. If you
wish to have an even higher credit score, make sure that you pay your house mortgage off on time.
Once you own a home, you will have financial stability secured by your assets, thus a good credit score.
This will also be useful in the event that you end up needing to borrow funds.

Keep a checking and a savings account active. Having ongoing accounts shows that you have an income
and the ability to manage your money. It shows you pay bills and handle money well. Maintaining an
impeccable checking or savings account shows responsibility, which looks good to creditors.

Don't do anything illegal. You should steer clear of internet programs that show you how to clear your
credit. You will be prosecuted, it is against the law. Legal repercussions will cost you a lot of money, and
you could go to jail.
If you desire to fix your credit, create a plan on how to go about paying your debt. When you have
existing debt, it negatively impacts your credit score and is a major burden. See what bills you can lower
or even pay off entirely to relieve the burden on your credit score. Reducing or eliminating your debt
will give you an immediate bump in your credit score.

Paying your bills is a straightforward, but truly vital prerequisite for credit repair. However, it's not
enough to just pay your bills; you need to make your payments on time and in full. As soon as you start
paying off your bills so that they are not late, your credit score will immediately start going up.

As you are now aware from this article, common sense is the prevailing wind that will sail you to better
credit scores. If you follow this information, you can get to the ultimate goal.

So... What's Next ?
To learn more about Credit Repair, Click Here: http://eclipsecredit.com

				
DOCUMENT INFO
Shared By:
Categories:
Tags: Credit, Repair
Stats:
views:7
posted:5/7/2012
language:English
pages:3
Description: Credit repair and credit report repair, alternatives to bankruptcy and debt consolidation are Credit Repair Australia's speciality