<![CDATA[Learn How To Improve Your Credit Score To Get Credit Cards and Loans With Better and Lowest Interes Rate Offer. Also use the same system to Fix Your Credit - Good to To Boost Your Credit Score and Get Free Credit Reports - Blog]]>Sat, 26 Oct 2019 15:22:28 -0700Weebly<![CDATA[October 24th, 2019]]>Thu, 24 Oct 2019 17:42:14 GMThttp://thecreditrepairservices.com/blog/october-24th-2019
Sometimes it becomes necessary to be able to put your hands on some money, when you need it, even if you have bad credit. Your credit rating has nothing to do with whether you need money or not. Today, lenders make it much easier for people with bad credit to be able to get the money they need. Here are some things that you need to know about bad credit loans to be able to get the money you need.

You can get loans for just about anything - even with bad credit. There are, however, some things that the lenders will want to see before they give you a loan. Generally, they will want to see that you have a good job, and have been there a while. They will also want to know that you are now able to make payments because you can afford them. Although your credit ratings may not be good, you still should be able to make timely payments. A funny thing about bad credit loans is that someone may qualify, even if they just finished bankruptcy proceedings last week - if these other conditions are applicable.

Whether you are interested in getting a mortgage for a new house, or for a car, or even for debt consolidation, you may be eligible. You should be aware, though, that the kind of deal you will be able to get will not be the same as someone who has good credit. The lender will probably limit you in three ways, making it a little less than the ideal loan. First, it will have higher interest and it could be quite a bit higher. Second, you will be limited in how much you can borrow. And, third, you will not be able to have as long of a repayment period as someone with good credit.

So, if these conditions bother you, then there are also a couple of things that you can do to get a better deal. They all, however, start with the word "wait." If you can wait a little while, before you get the loan, it may mean quite a bit of savings to you in the long run. Take some time and reduce your existing debts as much as you can first. Repair your credit. Then, you will be able to get a better deal. The amount of savings that are possible to you, by waiting and following these simple steps, could be sizable.

Other than that, money is available to you. If you already have a house, though, then probably the best way you can get money is by getting a loan based on your equity. Get a home equity line of credit (HELOC), and you will have money to play with.

People that do not have a house can get a personal loan, and may not even have to provide any collateral. Either secured loans (with collateral), or unsecured loans (no collateral), can be obtained with bad credit.

When you go to get your bad credit loan, though, you need to be aware that there are fraudulent companies who are looking for people with bad credit. They feel that you are more desperate to get money and can be more easily taken advantage of. So be careful, look into the company that you are dealing with, especially if you have never heard of them before - and shop around for the best deals.

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<![CDATA[5 Tips To Help You Deal With Credit Card Debt]]>Fri, 05 Jul 2019 18:51:11 GMThttp://thecreditrepairservices.com/blog/5-tips-to-help-you-deal-with-credit-card-debt Picture
​Do you tend to be late in paying your credit card bills? Is your pile of notices from creditors getting higher and higher? Do you fear you might lose your properties because you can't pay off your credit card debts?

Being in deep credit card debt is not a thing that can be easily brushed off or treated lightly. Anyone who's been in this situation knows how terrible it feels. However, if you ever find yourself in deep credit card debt, there are things you can do to make your financial situation not worse that it already is.

​Tip #1: Budget right away.

Don't wait until you lose your house. As soon as you find yourself in a bad financial situation, make a budget right away. How much is your income? Does it cover your expenditures? Assess your situation and know which expenditures are vital and which are not. Do you really need to eat out three times a week? Do you truly need to have all the bells and whistles that come with your cellphone plan? Must you shop for clothes every week? Your budget needs to cover all your basic necessities: food, housing, clothes, basic utilities and health-related costs.

Tip #2: Face your creditors.

Many deal with their creditors by avoiding them or running away from them. Dealing with creditors this way only leads to bigger and more serious problems. If you find yourself having a hard time paying off your debts on time, the best way to deal with it is to contact your creditors right away. Disclose to them your reasons for not being able to pay your debts and ask if they can come up with a revised payment arrangement. It's important that you let your creditors know that, while you are in debt, you are very willing to pay it off. Face your creditors. Don't let them reach a point where they pass your situation to a debt collection agency.

Tip #3: Deal with debt collectors.

The Fair Debt Collection Practices Act is a federal law clearly stating that debt collectors cannot bug you, give false assertions or do anything that is not fair when they are trying to collect money from you. Read and understand this federal know so you can properly address debt collectors.

Tip #4: Consider credit counseling.

There are groups and institutions that offer credit counseling for those who need help with their financial problems. A good credit counseling organization can help you come up with an improved payment arrangement of your credit card debts. You can present this plan to your creditors for their approval.

Tip #5: File for bankruptcy.

Filing for personal bankruptcy is a last resort to fixing -- and the legal way of addressing -- your credit card debt. However, keep in mind that if you file for bankruptcy, it will remain in your financial information report for years. Thus, you may find it difficult to get additional credit, buy a house or even get a job with a bankruptcy on your financial information report.

<![CDATA[4 Simple Steps To Get Out Of Debt - And Stay Out]]>Thu, 04 Jul 2019 18:25:02 GMThttp://thecreditrepairservices.com/blog/july-04th-2019​Step One:  Plan for the Unexpected Big Time Bill 

The first step arises from debt from a one-time large expense - something that is too large to be paid for with your monthly paycheck, or by saving for a few months.  

Many of these debts are investments in either an asset that will appreciate over time, or a income stream that will be greater over time.  The most common example is the purchase of a home.  Very few people are able to save enough money to purchase their home outright, or pay for their entire home out of a few paychecks.  We use a mortgage to pay for the home after-the-fact, and to enjoy home ownership in the meanwhile.  Another example is investment in education.  Many people cannot afford to pay for college tuition outright - so we take out loans, planning that our future income stream will enable us to be able to afford to pay for the education after-the-fact.  

The more insidious type of one-time large expense is the expense that is not an investment.  The emergency, unexpected, unplanned-for bill - extreme medical bills, disability, failure of a business, a lawsuit judgment, or long-time unemployment.  These bills can put a family under - forcing them to either sell assets, move out of their home, or declare bankruptcy, because they will never be able to pay off the debt with their income.

One way to combat this danger is to set aside three to six months of your living expenses in a special savings account - an Emergency Fund -- to be used for the emergency, unexpected expense.  This money is sacred, only for a family emergency.  The Emergency Fund will save your family from potential tragedy and help you create a secure future.  

Action Step #1:  Open a special savings account to be your Emergency Fund.   Set aside money each paycheck or month to fund this account.  

Step Two:  Think Out of the Budget Box

Instead of worrying about budgets, this step is the flip side of cash flow problems - income.    

We know when we have a debt problem.  We may stop opening bills, stop answering the phone.  We may even try to create budgets, reduce our expenses, cancel cable, live at the basic minimum, to try to stop the bleeding.

But sometimes, overspending is not the problem.  It is underearning.

You may just not earn enough to afford to live your life.  I'm not talking about living an extravagant lifestyle, or even a "nice" lifestyle - but the basic necessities of life - housing, automobile, phone, insurance, groceries, gas, clothing - may add up to too much, given your income.  This is especially common in expensive places to live, like the Silicon Valley.  

The first step in dealing with this problem is to stop feeling guilty.  You are not a bad person, who spends irresponsibly.  You are someone who needs to acknowledge that you need, want, and deserve more income.  

Instead of being frozen in guilt, start to take action on creating more income.  You may not need to do something radical - you may just need to ramp up what you are already doing, or look for hidden treasure already in your life.  

Put together a proposal for your boss, to describe how the company would be better if you got a raise.  Create a new information product to generate passive income for your business.  Search your basement for items you can auction on e-bay.  Teach a class on scrapbooking, or changing the oil in your car.  Have a garage sale to generate some quick cash, and reduce the clutter in your life.  

Whatever you do, the important idea is to start today.  

Action Step #2:  Brainstorm 5 ways you will earn more income now - such as - ask for a raise, look for a new job, start a small business, sell a new product, auction old items on e-bay, rent out a room, teach a skill, or have a garage sale.    

Step Three:  Planning for the Big Stuff 

This step is about the debts that sneak up on us.  You may be able to pay for your bills and regular expenses each month -- but what happens if the car breaks down?  The property tax bill arrives?  Your quarterly's are due?  Christmas?  Baby announcement?  Wedding invite?  The family or high school reunion?  The big family vacation you all deserve?

Are you able to pay for those non-monthly expenses out of your paycheck or your small business profits?  Or, do those items go on a credit card?  

Automobile repair, gifts, taxes, and travel are all examples of expenses that are non-monthly, but are expected.  We know they are coming, but not necessarily when, or how much.  These expenses should not be going on a credit card - you should save for them ahead of time, so you do not pay a bank 10-20+% a year for the privilege of paying for your expenses after-the-fact.

Go through your bills, receipts, and cards for the last year, or the last few years, and figure out how much you spend on each of these categories each year, on average.  If you don't have those records, make a realistic estimate.  Divide that annual amount by 12.  That's how much you should set aside each month for your irregular expenses.  

Action Step #3:  Open a special savings account for at least one non-regular expense:  either auto repairs, taxes, travel, or gifts.  Save a fixed amount each month in that savings account, so when bills are due, you already have the money!  

Step Four:  Plug The Holes 

Step four is about how to prevent your family from going into debt, by planning for your expenses ahead of time.  This step we come to the most insidious problem, and the most difficult to conquer - overspending.  

Do you know where your money goes each month?  How much are all of your bills?  How much are you spending on Dining Out?  Drinks Out?  Gas?   Target & Costco?  Clothes?  Personal care (i.e., massage, pedicures)?  Recreation - movies, golf, Netflix?  Toys (both for the kids, and for yourselves)?  Do you really know?  

Do you spend your money in accordance to your values and priorities?  Is there one, or  more areas, where you are spending money not because you particularly need, or even enjoy, that product or service - but because you are not paying attention, or because you are compensating for another problem in your life by habitually spending money in that area?

Commonly, we see this in clothes, toys for kids, recreation, high-tech gadgets, and dining out - easy for relatively small expenditures, made each day or week, to add up to hundreds, if not thousands, of dollars each month.  Spending without thinking will derail you from ever being able to achieve your most important life goals.  Especially if you are spending more than your income, month after month.  

Instead of being frozen in guilt, do something about it.  Look over your habits for the last few months, and pick the most obvious problem area, where you "go" when you are stressed, bored, or unhappy.  Do you buy CDs?  Shop online?  Get a new pair of shoes?  Start in one category, and create good habits and rules for yourself in that area - then carry those personal rules over to the rest of your expenses.  

Action Step #4:  Create a Cash-Only account for your problem category.  Withdraw your budgeted monthly amount in cash on the first day of the month, and place the cash in an envelope - when the envelope is empty, you're done!]]>