Can a professional help me prepare my credit?
If you are in search of a quick fast way to start credit repair, you are flat out of luck. Every time your financial score drops on the credit ranking scale, you are in fact breaking trust with your creditors, and the old adage that "once you break someone's trust you can never get it back" is half true, in that the only way to repair trust and your credit is through hard work.
Your situation could also be entirely different than that of a procrastinator's you may simply just feel that you are not capable of handling paying off your debt right now and feel that an opportunity to start credit repair is down the road. Whatever the reason behind your first inclination to put off repairing your credit, this is one time when you should not trust your gut or your first instinctual response.
The best way to look at credit repair is as a way to rebuild trust between creditors and yourself. Whenever you enter into a loan or credit card arrangement, you are entering a contract that states you will pay your side in exchange for them providing you with the cash or item. Therefore, when you default or are constantly late, you break that trust. Trust is hard to regain in real life, and equally hard in a credit scenario.
First, it's illegal. If you attempt to change your credit report as a method of credit repair with aid from an online source, you are now guilty of credit fraud, a federal offense. To compound matters, since it is extremely hard to track anybody down online, the only person who is going to be found guilty in a court of law is you.
The most common way that a professional credit repair agent can help you is by helping you to consolidate your debts. This process can not only lower the rate of how much money you own total (as they will get some of the late fees taken off with your agreement not to incur any more debt until you are finished repaying the owed debt) but also by producing you with one final bill you have to pay instead of ten to twenty different credit card and loan payments.
There is only way to start credit repair, and that is the hard way. You first need to take a step back and realize what financial habits got you into this situation, overspending and being habitually late on your bills are probably why. From here, you need to reevaluate your situation and decide on a legal course of action.
If you are not too far into debt, you may simply consider beginning your credit repair by paying your bills on time and by working on edging out your debt. One thing is for sure, more debt is not the solution so avoid any more credit card offers and/or loans even if they are tempting. It may be hard, but if you do the right thing, you can repair your credit and make your life better.
Your situation could also be entirely different than that of a procrastinator's you may simply just feel that you are not capable of handling paying off your debt right now and feel that an opportunity to start credit repair is down the road. Whatever the reason behind your first inclination to put off repairing your credit, this is one time when you should not trust your gut or your first instinctual response.
The best way to look at credit repair is as a way to rebuild trust between creditors and yourself. Whenever you enter into a loan or credit card arrangement, you are entering a contract that states you will pay your side in exchange for them providing you with the cash or item. Therefore, when you default or are constantly late, you break that trust. Trust is hard to regain in real life, and equally hard in a credit scenario.
First, it's illegal. If you attempt to change your credit report as a method of credit repair with aid from an online source, you are now guilty of credit fraud, a federal offense. To compound matters, since it is extremely hard to track anybody down online, the only person who is going to be found guilty in a court of law is you.
The most common way that a professional credit repair agent can help you is by helping you to consolidate your debts. This process can not only lower the rate of how much money you own total (as they will get some of the late fees taken off with your agreement not to incur any more debt until you are finished repaying the owed debt) but also by producing you with one final bill you have to pay instead of ten to twenty different credit card and loan payments.
There is only way to start credit repair, and that is the hard way. You first need to take a step back and realize what financial habits got you into this situation, overspending and being habitually late on your bills are probably why. From here, you need to reevaluate your situation and decide on a legal course of action.
If you are not too far into debt, you may simply consider beginning your credit repair by paying your bills on time and by working on edging out your debt. One thing is for sure, more debt is not the solution so avoid any more credit card offers and/or loans even if they are tempting. It may be hard, but if you do the right thing, you can repair your credit and make your life better.
posted by Credit Counseling at
1:59 AM
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