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Saturday, January 24, 2009

Good Credit is a Necessity

By Rob Kosberg

We need to maintain "GOOD" credit always. If you have experienced a recent denial of credit, are appalled by bank balances, credit card balances, are having cash flow issues, then it is time for a thorough investigation of your personal financial situation. You need credit repair.

You are the only one that can fix the current situation. So, put aside any fear of seeing your financial history in black and white, be proactive and arrange to secure your credit report(s). There is no magic cure, but it can be done.

Most everyone knows that ability to get a mortgage, personal loan, credit card depends on a good credit rating. We also need to b e aware that there are other reasons that we may not know that raise negative issues resulting from poor credit. Credit score is affected most by credit cards and debt.

Did you know that poor credit may result in:

Life, health, and homeowner's insurance may be denied Employment may be denied Credit cards & loans may be denied or offered with high interest rates Car loans may be denied Cell phone contracts may be denied You may not be able to start a business

Our financial world can be successful or miserable, but credit is the basis for our personal financial world and we need credit. Therefore, if you have defaulted (or are close), are having cash flow problems, large credit repair balances, credit repair is a necessity.

You can research how to secure your credit report(s) from each of the 3 major credit reporting bureaus. You can fix your credit. The Fair Credit Reporting Act provides helpful information about this process of securing and fixing credit reports. It is all about consumer rights.

Credit repair will be work for you but it is worth the effort. Explain your situation to your creditors. They will be more likely to work with you when they know you are serious about paying your debt. You will find a lot of public information to help you with this process.

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