If you are deep in debt and your credit rating and credit score is a total disaster don’t despair. There is a way out and thankfully, you have come to the right place to find out everything that you need to know to do that. In fact even if you are not in this situation you should read this ….. there will most likely be some helpful hints that will keep you away from disasters door.

Before we talk about that though, be aware that you are not alone. Here are a few statistics that you should know to give you some perspective. The average American family carries a debt balance of between $7,000 and $10,000 … and that’s only on their credit cards. This averages out to over $1,000 interest being paid each year per family.

Remember, this is just the average so that means many, many people owe much more. And don’t think … “that’s only America.” The average debt is very much the same wherever you may be living in the world, but in most cases the cost is higher due to the (generally) higher interest rates experienced in other countries.

There is a way out though and you need to keep reading.

While we are using America as the example, did you know that over 90% of their disposable income is spent paying back debts? It is likely that, if you are in a similar situation, you may well have some level of financial trouble yourself. According to the quoted current US statistics one family in a hundred will be forced into bankruptcy if this level of debt continues.

What effect does being in this bad debt situation have on your budget? You know when you go to pay regular bills you will find that some will have to go unpaid or will have to be paid late. That is when it all goes “from bad to worse” because, not only will you incur further interest, (and therefore debt), in both of these scenarios your credit record can be severely damaged. Sometimes, so much so that you think there is no way you’ll ever be able to get out of debt and get credit for any future important financial decision.

If you find what you have read so far is a little too “close to home” then keep reading.

We’re George and Stephen and we have put this Credit Repair Blog together with all the information you will ever need to know in this ONE SPOT to help people like yourself understand and manage your debt. Whether you are already having problems managing your debt or credit; or you are just making sure you have the knowledge to handle your current and future levels of debt or credit, (in this current economic climate), this is the SITE for you.

As we have indicated in this article so far, it is possible to get yourself out of debt and repair your credit to a similar level to what it was before you had, (or have), a financial catastrophe. It can take some time and a little work and negotiating on your part, but it is possible.

SO READ ON …

Now before we move on …. have you heard about a term called “your credit score”? Well you have one; and it is a number that someone allocates to you based on their research and assessment of your performance when borrowing money and how you pay it back. All types of loan approvals and other financial type transactions depend on your credit score.

Not only does that number determine if you will be approved for credit, it also helps determine what interest rate you will pay if you do get finance. Additionally it determines how much money a potential lender will offer to you. In a perfect world you will look after your score at all costs. But if you are like many people who are searching for credit and / or debt information you are possibly already in the situation where your credit score has been adversely affected by your purchasing habits. If that sounds like you …. then keep on reading to find out how to repair your credit rating.

In various countries around the world different credit scoring systems may be used but in our American example a good median score is 750. The higher your score is, the more credibility you have and or financially sound you are in the eyes of the possible lender. Now we couldn’t agree more that the best situation would be to stay away from credit altogether.

But let’s face it, not many of us have a few hundred thousand dollars lying around to buy that dream home or have quick access to twenty thousand to buy that car that has the weekend price special. While it would be nice to try and stay away from credit, not many of us can scrape together those sorts of sums on demand. But the sad reality is that we all need to make sure we have a good credit score so that we are in a position to buy whatever we want when we cannot pay cash for it. If you can control your emotions and purchase wisely there is nothing wrong with the philosophy of purchasing now and paying later.

Now let’s talk about emotional spending. You buy everyday items such as clothing, gasoline, dining out and other consumables on credit cards without budgeting to pay off your absolute total due within the current interest free period. You’re only paying your minimum amount due (which is never going to clear your credit because you barely cover the interest you have been charged); the balance starts to rise and rise and to make matters worse, you continue charging more and more items to the ever expanding balance. Does this sound like you? Do you think that would help your credit rating? Of course not!

But hey; don’t get too stressed out about it because no matter how low it is now, there are ways to raise your credit score. And because you now know that your credit score is a benchmark of who you are, (in the eyes of the business world), you need to always keep it as high as you can.

Now, if you still aren’t convinced that having a good credit score is that important, then you MUST read on; because this is where ………

www.cleardebtcreditrepair.com

comes into your picture !!

Understand this; with today’s technology a quick look on the internet will disclose all the information that a business will need to form a financial opinion about you. It takes them seconds to decide whether or not you are credit worthy. Are you a good risk? Consider doing any of the following and you had better have a satisfactory financial profile.

1. You want to apply for a job
2. You want to open a new bank account or get a credit card from the same bank or a
department store
3. You want to rent a new home or apartment
4. You want to purchase a new home or apartment
5. You want to open an account with the phone, gas or power company

Unfortunately, the simplest task such as applying for employment could very much mean that you need a good credit score in this information rich society. Yes, people have been turned down for a quality career position because of a poor credit score, and the job they sought was exactly what they needed to repair it. Talk about a “catch twenty two” situation.

Remember when you only needed to have a good credit record for a home or car purchase? And remember it was as simple as showing a few of your recent (paid) bills, etc. Not anymore! Having a bad credit score can make survival in today’s society as hard as if you had the plague.

So if you are caught in some similar catch twenty-two situation, what can you do?

Requesting a copy of your credit report in writing is a good start. In most countries you are entitled by law to receive a free credit report. (In other countries a small fee may be required). In America there are three major credit-reporting agencies where you can order copies of your credit reports. Try contacting TransUnion, Equifax and Experian. The addresses are available in phone books and over the Internet. These bureaus are obligated to give you FREE copies of your report once each year.

For your specific country you can find the equivalent in an e-phone book. With the information included on your credit report you have a starting point from which to work at repairing your credit score.

You might find there is some credit information that you disagree with. Depending on what country you live in there are strict deadlines, (from the date of issue), as to how long you have to post a letter of credit denial. (Sometimes called a Credit Score Query). You will also probably be required to provide some types of ID to verify your identity. As the process and the information may change from time to time it is best you seek that information out at the appropriate internet website address relating to your Country or State. So now that you know some of the reasons why you need to have good credit let’s look at who gets to see your information.

Unbelievably, your credit report is public information to any entity to whom you are applying for a line of credit. You are permitting a potential creditor to view your credit report anytime you inquire about a financial transaction that requires ongoing payments in either direction; for example, applying for employment, inquiring about an apartment rental or purchase or by considering any other big purchase.

While your credit report does not reveal anything about your personality, it may just as well, as it will reveal the psychology of your spending, and that will be how a potential creditor will perceive what kind of person you are.

So …. basically ….. to summarise what you have read so far …. into one short sentence :

Your ability to make a commitment to pay off a debt and then follow through on that commitment tells a business a lot about what kind of person you are.

AND THAT IS THE BOTTOM LINE !!

We hope this information has given you some “foundation” as to what you can do for yourself and your financial management.

Now we have said you would find ALL the information you need to understand and manage your debt and repair your credit AT THIS ONE SITE.

Because each person’s financial situation is unique to them it is impossible to deliver just the right “mix” of information specifically to you in one neat package (article). So what we have done is provide you with a Full Reference Library of articles that deal with many variations of the same topics …. the topics being ….. Clearing Debt and Repairing Credit.

And we provide this information to you at no cost.

So scroll through the Articles we have provided and see if any of them can expand your understanding of your particular situation and “arm you” with the knowledge you will need to seek out the right advisors and / or programs that you need to improve your credit score.

While our information won’t cost you, there are a number of promotions for other products on our WebSite. Some provide even more free information; others may be expecting payment for their information and / or services. It is your decision as to whether you want to explore these opportunities. What we can say is that they are all in the business of helping people just like you to clear your debt and repair your credit; or they would not be advertising their services or products on our WebSite. We have put a lot of work into providing you with everything that you need to improve your debt situation and credit score right here on this site.

If you have any comments about our Site then please send us your feedback; (we are not too proud to accept credit when it is well deserved and we also take note of what our readers say to make improvements to the content we provide). Just go to our blog and please write a comment.

GOOD LUCK ….no that’s not right …. you don’t need to rely on good luck to get out of your financial predicament. All you need is good information, (and you’ll find plenty of the right stuff here on this site), good intent and the right action.

All the best,
George and Stephen