Tuesday, May 23, 2006

 

Steps that Can Be Taken If bad Credit Is The Result of Outstanding Debts


Steps that Can Be Taken If bad Credit Is The Result of Outstanding Debts

Things like that happen to everybody and what is done is done, the important thing now is taking action and working out the solutions to your credit and debt problem.

Signs Of Debt Problems

Ø You use credit cards for things you used to buy with cash, such as foods

Ø You skip payments on some bills in order to pay others, or use cash advances on one credit card to pay off another.

Ø You’ve tried to make a purchase with your credit card and been declined due to insufficient funds

Ø You’re thinking about filing for bankruptcy

If you find yourself in a financial crisis, or are trying to prevent one from happening, there are ways you can regain control of your financial situation and get out of debt faster. Your awareness of the problem will be your ultimate key to eliminate credit card and other debts. The process of cleaning your credit will be more difficult if your debts are young. Statute of limitations for Creditors are different from one state to another, you need to check with your state.

It does not make any sense to pay debts that have already been charged-off unless you are about to get mortgage.

The first step is to get a copy of your credit report and screen it for errors. There are three credit reporting agencies gathering your financial patterns that, once compiled and weighed, decides your credit worthiness. Exquifax, Experian, and Trans Union are those three big national companies. You can visit http://www.americafinancialsolutions.com/ to get a free copy of your reportVisit http://www.americafinancialsolutions.com/ for the rest of that article or call 1-800-613-6902, one of our credit repair professional will answer all your credit questions for free.







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# posted by Credit101 @ 9:13 AM
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