Help with bad credit by KBrimstone

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									Are You In A Tough Financial Situation? Think About Credit Repair.

Many people think having bad credit will only impact their large purchases that need financing, such as
a home or car. Still others figure who cares if their credit is poor and they cannot qualify for major
credit cards. Depending on their actual credit score, some people will pay a higher interest rate and can
live with that.

If you are trying to repair your credit after being forced into a bankruptcy, be sure all of your debt from
the bankruptcy is properly marked on your credit report. While having a debt dissolved because of
bankruptcy is hard on your score, you do want creditors to know that those items are no longer in your
current debt pool.

When disputing items with a credit reporting agency make sure to not use photocopied or form letters.
Form letters send up red flags with the agencies and make them think that the request is not legitimate.
This type of letter will cause the agency to work a bit more diligently to verify the debt. Do not give
them a reason to look harder.

"Laddering" is a term used frequently when it comes to repairing ones credit. Basically, one should pay
as much as possible to the creditor with the highest interest rate and do so on time. All other bills from
other creditors should be paid on time, but only given the minimum balance due. Once the bill with the
highest interest rate is paid off, work on the next bill with the second highest interest rate and so on and
so forth. The goal is to pay off what one owes, but also to reduce the amount of interest one is paying.
Laddering credit card bills is the ideal step to overcoming debt.

As we have seen, having bad credit cannot only impact your ability to make large purchases, but also
prevent you from gaining employment or obtaining good rates on insurance. In today's society, it is
more important than ever to take steps to repair any credit issues, and avoid having poor credit.

Click the following link for bad credit auto loan information.

								
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