Month: March 2016

Do you have bad credit and searching for ways to save yourself from a lifetime of financial problems? You can see the light at the end of the tunnel by working with a top financial credit repair company.

Here are just a few ways a credit repair consultant can improve your financial health today:

1. To recover from unpaid or extremely delinquent credit accounts, make sure your credit report is as accurate and current as possible. If you see anything negative that you don’t recall being yours or more than 7 years old, get it addressed. By having this done, you can start to find ways to add positive data to your credit report.   
2. Pay off outstanding past-due credit accounts and haven’t been charged off. This strategy will bring the accounts to current and help you begin to generate positive account data on your credit report. Remember late pays on your account will still be on your credit report but you can make positive behaviors work in your favor going forward.
3. Show that you can pay what you owe even if you pay late. Ideally you should try to pay at least 30 to 50 percent of your credit limit on any given open credit card. If you can pay it off in full, do it. Try to pay off your balance in full each month.

When the economy hits a downward turn, there are two things that you can count on: people with less than perfect credit will still need loans and there will be plenty of places that offer them.  But just because it is readily available, is it the right way to go?

The fact is that there are good points and bad points associated with one of these loans.  But before you decide, you have to weigh your options and see if it is a good fit for your particular situation.

First, the good points.  These loans are convenient.  The process is so short that you can usually find out if you are approved within an hour or so.  If accepted, the money is typically available within a couple of days, or even the same day.

Another good reason that this might be the right loan for you is right there in the name.   These loans are specifically designed for people who do not have perfect credit.  They understand that you will not be able to go the traditional route to get money.

If you do take out one of these loans it can be a good way to get started rebuilding your credit.  Without this new piece of credit being extended to you, your credit score will be at the mercy of using the only other recent information on it, which stands a good chance of not being very favorable.  At least it shows that you are working to bring things back.

Now, the cons, which there is really only one.  These loans are available for a reason: they cost a lot more.  Having this type of opportunity available to you is going to cost you.  Just how much depends on your individual situation.  Many are okay with paying the added expense because it is the only thing available right then.  You just have to decide if it is worth the extra cost.