Page copy protected against web site content infringement by Copyscape logo for Running A Home Based Business Phil Schein's LinkedIn Bio


There are all kinds of survival kits offered today. If you live in Florida, you probably have a hurricane survival kit in your home. If you live in the northern states, you should have a winter storm survival kit in your car in case you get stuck. Due to the rising number of people in over their heads in debt, we decided it was time to assemble the supplies you'll need to survive an "attack" on your credit. Here's what we will put in our Credit Repair Survival Kit:
  • A rubber band-to wrap around your wrist to help you remember to pay your bills on time.
  • A piece of string-to help you tie up the loose ends of your finances.
  • A pen-to sign all the correspondence and dispute letters you'll be sending to your creditors.
  • Patience-because it will take time for your efforts to be reflected in an improved credit score.
  • A sense of humor-because you'll need it.
  • A rope-in case you get to the end of yours. (Just kidding!) No, there's no reason to learn the knot for making a noose. Everyone's credit can be repaired, and in many cases, you can do it yourself, for free.
    • The articles listed on this webpage are what you really need in your Credit Repair Survival Kit. For more details, read our Credit Repair Survival Kit listed on the right side of this page. Don't give up!

    Avoiding Bad Credit Loans

    A "bad credit loan" is the one you will be stuck with if your credit report is less than excellent. More specifically, if your credit score is not well above 620 you will be paying a much higher interest rate on your loans than most people. In this article, we will provide you with some common sense advice on how to avoid these high interest loans.

    The interest rate you pay on any loan can be tied directly to your credit score. And your credit score is based on your credit history, as compiled by the three major credit reporting bureaus (Experian, TransUnion, and Equifax). The credit bureaus get their information about you from your current and past lenders. Remember that car loan you defaulted on a couple years ago? Yup - that's in your credit report. And so are those utility bills you were late paying last year.

    The best way to start avoiding bad credit loans is to improve your credit. I know that sounds simplistic, but it's true. You should be able to repair your bad credit yourself, for free. Start by requesting copies of your credit reports from the three major credit bureaus. Review the reports for any inaccurate information, and get it removed by contacting the credit bureaus.

    Start paying down your debt. Reduce the balance on your credit cards as much as possible. Negotiate payment terms with your lenders, if necessary. And be careful to pay all your monthly bill on-time, from now on. Just one late-pay can ruin all your efforts.

    Add good credit references to your credit report. There are a couple ways you can have positive information submitted to the credit bureaus, even if you cannot get a regular, unsecured credit card. One way is through the use of sub-prime merchandise cards. Although they are not a VISA or MasterCard, they do report to the credit bureaus. Another option for adding credit reference is to obtain a secured credit card. They typically require a cash deposit, and then you can charge up to the amount of the deposit. Be sure to shop around for these cards, since some have lower fees than others.

    Arm yourself with the right information. There are many sources of tips and techniques for improving your credit (and therefore avoiding bad credit loans). But some techniques are shaky at best (and may even be illegal). There is no shortage of companies eager to sell you an instant solution for your credit problems. Take the time to locate an information source you can trust. For example, when choosing a credit repair manual, look for a publisher with a long track record of success, one who updates their information frequently, and offers a money-back guarantee.

    Apply these common sense techniques to repairing your shaky finances, and you may never have to visit the "pay-day loan store" again. You should know that it will take time, but if you start today to fix your credit, you should be able to get a lower interest rate on that new car loan later this year.
    Note: This article was reprinted with either private license rights or permission from the author.
    Phillip Schein has been an author, consultant, and certified instructor in the IT industry for over 15 years. Previous to that, he spent many years working in areas of finance and accounting. He now specializes in website development and search engine optimized web content for small office/home office (SOHO) enterprises. He has taught corporate, retail, and college-level courses in creative writing, accounting, web design, and Internet business development. Please read our About Us page for more detailed information.

    RHBB Reprint Policy
    Website in English; se habla español.
    Top of this page
    Jump to the top of this page.




    Member/Affiliate/Partner Signup   Member Login button

     StumbleUpon link Stumble It!

    We RECOMMEND:
    Credit Niches4Review Report
    Competitive intelligence about
    this online niche business.
    Niches4Review.com/aboutCredit/
    Credit Secrets Bible Our Special Combo Bonus:
    Credit Secretsand Debt Management

    Accounting/Credit Must-Read Articles:

    Accounting Software for a Homebased Business
    A necessary evil that can turn into your primary management tool...

    Facts About Credit Repair Companies Part I
    Have you ever wondered about those ads to promise to repair your credit?

    Accounting Terms you need to know
    Yet another necessary evil, the Devil is in the details...

    Facts About Credit Repair Companies Part 2
    There are several disadvantages to monthly fees of those credit repair companies...



    Get a FREE RunningAHomeBasedBusiness toolbar here or, for more details, click These gifts ARE REALLY free; they DO NOT require you to "signup" with your email address.


    SEO BlackHat: Black Hat SEO Blog

    Corrected: Top 100 Site Traffic Breakdown
    by QuadsZilla
    12 Mar 2010 at 7:02am
    $200 Twitter Contest: 122 Characters Sent Back 2000 Years
    by QuadsZilla
    10 Mar 2010 at 11:05am
    Why 6th Place in Search Might Soon Be a Player
    by QuadsZilla
    9 Mar 2010 at 6:02am
    Microsoft Cross Platform Flow
    by QuadsZilla
    8 Mar 2010 at 1:35pm
    Hear That? It?s the Sound of Socialist Heads Assploding.
    by QuadsZilla
    2 Mar 2010 at 12:17pm
    The Real Reason Google Dropped Youtube Support
    by QuadsZilla
    2 Mar 2010 at 8:20am
    ?Mad Libs Converts!? says Case Study
    by 111-222-1933email@address.tst
    25 Feb 2010 at 6:35pm
    Aaron: It?s not Spam, It?s a ?Newsmaster Site?
    by QuadsZilla
    22 Feb 2010 at 4:48pm
    Buzz Without the Buzz
    by QuadsZilla
    19 Feb 2010 at 4:34am
    Open Thread: Who is the Best Banner Designer Out There?
    by QuadsZilla
    18 Feb 2010 at 11:08am

    RSS feed imported by CaRP



     

    Get a FREE RunningAHomeBasedBusiness (RHBB) toolbar below
    or, for more details, click here. This gift is REALLY free;
    no email address or "signup" is required.

    toolbar powered by Conduit



      Data about you:
    The external link used to land on RHBB: Page was directly requested
    Your IP address and host: 38.107.191.86
    Your browser info: CCBot/1.0 (+http://www.commoncrawl.org/bot.html)