Part 1 – Recognizing Your Debt Problem and Obtaining Your Credit Report

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The lesson you should have learned in Part 1 (click the above link if you missed it) was for you to get your mind straight and to recognize that you have a problem with your debts and you need to do something to to repair your credit. This first step is crucial.

Once you recognize the fact that you do have a debt problem, this should be enough motivation for you to start acting on it. Of course, before you relieve yourself of your debts you need to get all the information you need first. That information is your credit reports. Once armed with these reports you can start to do something about it.

This second step takes you from the recognition phase to the action phase.

Step 2 – Acting on Your Read the rest of this entry

By – Joseph Nykoluk

If you have a credit problem, then your first step in repairing your credit is to just set a goal to solve it. Without setting yourself a goal, how can you ever hope to achieve that touchdown. Before you can solve the problem you have have with your credit, you must first recognize the fact that you do indeed have a problem and that you need to solve it.

Once recognized, you need to start considering all the factors you will need to start building up your credit. Don’t be afraid of Read the rest of this entry

If you do a search on the Google search engine for the phrase - “average credit card debt”, you will find all kinds of answers. One thing is for sure. Americans and Canadians alike have way too much debt on their credit cards. Where one site has the average debt at $5000 another will have it at closer to $10,000.

One thing to keep in mind when looking at some of those figures is that the amount of debt placed on a single person may not seem as bad when that amount is placed on a credit card for Read the rest of this entry

There are more people getting higher paying jobs than ever before, and most of those people just cannot resist the temptation to apply for a credit card. Like all temptations, we need to learn to stay away from that urge. Although there are reasons to have more than one credit card, most of us only really need one good major card.

So, if you happen to pass by a window or see a sign that says something like – “Apply Here For Your Credit Card”, or something like that, run as fast as you can in the other direction. Because if you don’t you will just run the risk of Read the rest of this entry

What Does Having A Bad Debt Mean?

Most people in the civilized world has some debt, but the question becomes more serious when it involves bad debt. So what is bad debt? Put simply, bad debt is debt that is not being repaid when it should be. It does not matter if you live in the United States, Canada, Mexico, Latin America or Europe. If you borrow money and do not pay it back you have a bad debt.

Examples of bad debt include such things as a credit card or a loan to which you did not make your required scheduled payment. Making your credit card payments is very important as it can Read the rest of this entry