Do you Know when Credit Repair is Needed?
When we first start to use credit, we tend to be very careful about how we use it. We might have an apartment, a credit card, and perhaps a car. Then we move ahead in the world and our financial world increases and widens. We become more involved with credit. Some of us are able to survive and thrive in this world; some of us are not. It's possible that we permit our difficulties "sneak" up on us.
Someday we wake up and have the "aha" moment that lets us know that we are in some serious difficulties. Our clue may be the sense that something is financially wrong. The clue could also be a close look at our credit balances. It is also possible that a financial crisis is the tipping point for us to realize something has to change. You need credit repair.
We need to examine our financial habits to find out where we are not being financially savvy and develop our plan for fixing the situation. The first thing you want to learn is if you are actually spending more than you make. Many of us are living "above our means" in varying degrees. This might not sound plausible, but it happens. We use credit, borrow savings, loans. You can go on doing this for awhile, but you will end up in a financial "black hole." Now what?
Often, we might actually be using financial manipulations such as using credit or loans to pay utility bills, phone bills and others for which we should be using money. You need credit repair.
In addition, some of our other manipulations might be to use credit for everyday things like food, clothes, gas when , again, we should be paying cash. If we think about it, a lot of these things are going to be gone before we get the bill. This pattern is not good especially if we don't pay the balance every month. Credit repair is needed.
Some people will actually use credit when they have the cash available. Perhaps they just like having cash in the pocket. However, this can also lead to rather lackadaisical credit card payment patterns. It's possible that before they know it, credit cards are maxed out. You might start to juggle payments, paying some and not others. Now what?
There are people who use cards to pay other cards or extending themselves with loans. There are costs for card balance transfers and loan costs. Nothing is really solved and it's back to the black hole.
Do you recognize yourself and your habits? If so, you need to examine your debt and spending habits and develop your plan to reverse the mess. Credit repair is needed.
Someday we wake up and have the "aha" moment that lets us know that we are in some serious difficulties. Our clue may be the sense that something is financially wrong. The clue could also be a close look at our credit balances. It is also possible that a financial crisis is the tipping point for us to realize something has to change. You need credit repair.
We need to examine our financial habits to find out where we are not being financially savvy and develop our plan for fixing the situation. The first thing you want to learn is if you are actually spending more than you make. Many of us are living "above our means" in varying degrees. This might not sound plausible, but it happens. We use credit, borrow savings, loans. You can go on doing this for awhile, but you will end up in a financial "black hole." Now what?
Often, we might actually be using financial manipulations such as using credit or loans to pay utility bills, phone bills and others for which we should be using money. You need credit repair.
In addition, some of our other manipulations might be to use credit for everyday things like food, clothes, gas when , again, we should be paying cash. If we think about it, a lot of these things are going to be gone before we get the bill. This pattern is not good especially if we don't pay the balance every month. Credit repair is needed.
Some people will actually use credit when they have the cash available. Perhaps they just like having cash in the pocket. However, this can also lead to rather lackadaisical credit card payment patterns. It's possible that before they know it, credit cards are maxed out. You might start to juggle payments, paying some and not others. Now what?
There are people who use cards to pay other cards or extending themselves with loans. There are costs for card balance transfers and loan costs. Nothing is really solved and it's back to the black hole.
Do you recognize yourself and your habits? If so, you need to examine your debt and spending habits and develop your plan to reverse the mess. Credit repair is needed.
About the Author:
With never before seen challenges in the credit markets it?s more important than ever to have excellent credit. For more information check out Rob Kosbergs' Detailed FREE Guide on Maintaining and Repairing your Credit Score by going to Bad Credit Repair for your FREE information.
posted by Credit Counseling at
8:16 AM
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