The Bad Credit Repair Problem-- Where It all Started
In any problem-solving tutorials or a simple math problem, we always need to get down to the dirty business of finding the cause of the culprit and why, where and when it all started.
That speaks the same for Bad Credit, we should start asking first, WHY am I having this trouble in the first place? But, hey, do not be shy. These matters are not to be ashamed of. It is rather common and your neighbor might have one! Often it may not even be your fault, like Gerald and Lisa.
These two successfully saved their money for 5 years and decided to invest in a small sign company. Then, against all odds, one fine summer, someone broke into their business office and stole all the computers and expensive sign-making equipment. Unluckily, they do not have insurance to cover the loss so they had to take out loans so their business will go and they will stay up float financially. Recovery was a long journey and bad credit waited for them in the end.
Or you might find Paul’s story more relatable. After he graduated from college, he got a lot of tempting offers for more credits which he took up. He wanted to send a message that his career as a Sales Manager was a successful one so he ended up taking more.
His problems started to grow bigger. He began the juggling game of “robbing Peter to pay Paul,” which only got him deeper in debt. Eventually, he had to take out a consolidation loan just to pay off all his cards. However, the temptation found itself on its way back to Paul so he got carried away and he was once again immersed in debts. However, in the end, he had to declare bankruptcy because he can not pay them at all.
So, take a good look at what is going on in your life. Why are these happening? Why do I have credit problems? Are you in debt because of factors that you can not control or is it an addiction for you? Are you still getting deeper into debt or are you fixing the problem? Remember to answer this. Or we will end up with jail over ahead and praying over everybody. There is no point in fixing your credit if you will just end up losing it.
If you find that you are getting too deep in debt, you have several options to check out.
Contact the credit card companies and see if they will work with you to help lower the monthly payments.
Talk to a nonprofit credit counselling company, like Consumer Credit Counseling Service at http://www.cccsintl.org. They give you counselling. They have branches in many location of the United States.
However, please remember to beware of “for-profit” organizations who promise you help through debt consolidation loans. They are expensive and people will not go here in case they are “filthy rich” Why would you go here as well if you can have tons of free resources. Let us go back to the 1st option and check out what to do yourself.
There is no quick fix for credit problems, but with a little patience and determination, you can not only get it under control, but you can end up with great credit and the feelings of success and self-worth that go along with it. So take the first step and determine to get debt free today!