Real-life Solutions For A Debt Related Problems
A lot of people prefer to use fast methods of controlling their credit problems
. However, there are times. These quick fixes offer short term solutions for problems that may run for eternity if not addressed properly. Selling settlement payment or filing for bankruptcy may sound as if they can put an end to your credit repair problems but if you take a look at the bigger picture, you will see that doing such things will only provide you with temporary solution and it does not offer a sure guarantee that the credit problem monster is really dead. What you need to do is find a weapon that can help you kill your worst nemesis- and that is your credit repair problem.
Hit your target. You can do this by addressing what the real problem is. Think first before acting and never let fear or suspicion get in the way. It is not just enough to think twice when making financial related decisions, think a million times over and over again. Take the case of retirees in strap of cash, some of them think that the only solution to their problems is by mortgage reverse. But if they thought things over, they would realize that the long term viability of staying in that particular home may be a bit too expensive.
Do not move your problem around. Just because youre moving it around doesnt mean youre solving it. Whether its a structured debt settlement or a basic credit problem that you are dealing with, you need to bear in mind that to pay an existing debt from another pot is simply transferring your problem from one pace to another. If you use your 401 k savings to pay your existing credit debts, you end depleting your retirement money. It is more like putting a band aid in an open wound will not help it heal in anyway.
Change your attitude towards money. This may be a bit more challenging but adjusting your attitude with regards to money can do wonders in helping your solve your credit related problems- permanently. For people with credit card problems, a thorough examination of their spending would reveal that impulsive shopping is the primary culprit behind all the credit issues. If you change your spending, you change your lifestyle, you end your problems. Declaring bankruptcy every six months is simply not good. The cycle will continue to go on unless you try and live beyond your means. Sticking to your commitment may not be that easy but it certainly is worth it as you rid yourself all the debt related problems which everybody knows is not that easy to deal with.
As a matter of fact, you can waltz you way towards good credit rating without the need of tying up your money for more than a day. You simply need to follow the simple steps that will surely give you good credit ratings in no time.
1.First thing that you need to do is to generate $500.00. This will serve as your bait towards achieving your goal of having a good credit. Use this amount to open a savings account. You need to put your cards straight on the table so do not hesitate to tell your account representative to you want to loan against the amount in order to build a good credit. Read each and every details of the loan. Be sure that the bank that you are dealing with will permit you to pay the note inside a 90 day time frame without interest penalties and so on.
2.After acquiring your new $500.00 loan, go to another banking institution and repeat what you just did. Open an account using that amount. Explain to your rep that you want to take a loan on that note.
3.You are free to repeat the steps over and over again at different banking institutions until you feel that you have sufficient accounts that can give you enough good credit ratings.
4.After 3 months, go back to the banks that you have dealt with and ask them to retire the loan with the $500 as its collateral.
There are a lot of stores which extend credit without taking into particular attention the standing of the applicants credit. These companies are usually industries that focus on small products or those with high mark ups. For them, the need to have credit history does not matter that much. Take your time in researching for these companies as they can surely help in getting you out of debt and bad credit reports.
by: Louie Pinto
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