Debt Consolidation

Credit can be a wonderful thing, but it can also be a dangerous pitfall, with disastrous results, when it gets out of control, even it happened through no fault of your own. If you find yourself overextended, here are some ideas for improving your credit.

The first step is to acknowledge your dilemma. Denial is a natural reaction, but you absolutely must face up to the fact that you're in trouble, and begin to work your way out of it. Don't ignore your bills. That won't accomplish anything and will only compound your poor credit problem in the long run.

The next step is to contact all of your creditors and tell them your situation, the sooner, the better. Ask them to set up new payment schedules for the debts you owe. Make sure that the schedule you agree on is one you can actually manage. Contacting them and being honest with them, telling them that you really want to fulfill your obligations, but need to set up a different repayment plan also shows them that you're sincere about paying them back.

In most cases, you'll be pleasantly surprised at how willing your creditors will be to work with you on setting up a new payment plan that you can live with. After all, they'd rather receive their money a little more slowly than never receive it at all.

Immediately stop charging anything else. That should be obvious, but being able to buy things on credit can actually become a habit that can be very difficult to break. However, if you have poor credit, the one thing you DON'T need is more debt! Take your credit cards out of your wallet and put them away--or cut them up, if you have to, to make sure they're not available for easy use.

Those are the first steps toward improving your credit. You have shown good faith with your creditors, and you've stopped accumulating further debt. Don't expect miracles, because it will take time to undo the financial difficulty that may have taken years to get yourself in to. But you can do it, and you'll find most of your creditors will be quite willing to help. After all, they have a financial stake in this, too.

It can be a long, difficult process, but if you face up to your difficulty, summon your courage, and then begin to take positive steps, you CAN once again find yourself on the road to regaining control of your finances.

Copyright © Jeanette J. Fisher

The site is not responsible for any content in it. E-mail: alldir[at]gmx[dot]com
debt consolidation, home loan, mortgage, debt free, debt help, refinance, equity loan, unsecured, secured debt, bankruptcy, credit card , bad credit, payday, cash advance, cash settlement, line of credit, student loan, interest rate, borrow money, car loan, adverse credit, compensation, quote, credit score, consolidate debt Faith Medford Lakes borough Hayes township North Kansas Palatine Bridge village El Paso de Robles (Paso Robles) Jerome village Elmo town Reynolds village (pt.) Oneida township Cyr plantation Saxonburg borough Windsor Heights Mercersburg borough Biscay Teaneck township Nolanville Lester town Galva township Liberty township Balance of Wabash township Yeadon borough Jasper County Channahon village (pt.) Bethel Acres town Steele City village Smithfield village Hornersville Goodrich Dublin USA UK Australia Canada Luxembourg Serbia Portugal Barbados Guyana Malawi Kingman Reef Saint Barthelemy Sao Tome and Principe Monaco Warwickshire Cumberland Ayrshire Nairnshire Caithness Clackmannanshire Cardiganshire Lancashire Peeblesshire Surrey Palau (PW) American Samoa (AS) Georgia (GA) Wisconsin (WI) American Samoa (AS) North Dakota (ND) Oklahoma (OK) Oklahoma (OK) Wisconsin (WI) Iowa (IA) Rhode Island (RI) Rhode Island (RI) Texas (TX) Missouri (MO) Nevada (NV) Michigan (MI) Nevada (NV) District of Columbia (DC) New York (NY) Marshall Islands (MH)