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Credit Card Counselor
Bad credit can be a tough thing to go through and fix. The main purpose of bad credit is due to a credit card or two. A credit card can damage your credit if you do not make your monthly payments on time. With a credit card counselor, you can get your credit back on track so you and your family can enjoy the things you love. It is hard to believe how much good credit can get you in life. If your debt is so bad that it is taking over your income then it is time to start talking to a credit card counselor.
When going to a credit card counselor they will first talk to you about your situation. After that, they will pull up a copy of your credit report to see what kind of problems are on there. They will look for errors that might be slowing you down and lowering your credit score. If there are any errors they can help, you to get them fixed.
After that, they will see what kind of debt you have and exactly how bad the debt is. If your debt is minor, you might be able to fix it all on your own. If you have bad credit card debt then the credit card counselor will talk to you about a one monthly payment. They set up a monthly payment to pay on all your debt. Therefore, instead of you trying to figure out what you can pay each week, they give you an amount to pay each month and then they pay on your credit card bills. This helps you out and you do not have to worry about the credit card bills so much.
After getting your credit score back up, you will want to make sure that all payments are made on time. Making payments on time will keep your credit score up and going. Then when you need a loan, house, or a car you can go out and get one. Getting your credit score fixed and your score back up, you can give your family what they want and deserve. Just make sure to keep up your credit score and you will never have to see a credit card counselor again.
If you want to have a credit card counselor to help you fix your debt than you will want to look for the right person to do it for you. Make sure you check out all the different credit card counselors out there to make sure you find the right one. You can look in your local yellow pages to find a close one nearby or you can go online and see what kind credit card counselors you can find there. If you are not sure about the ones you find you can give them a call and see what they have to say about your situation and what they can do to help you. This can give you a good idea on who can help you the best for your situation.
Building Credit for a Home Loan
Building credit for a home loan takes a bit more of a focused plan than financial improvement for other goals. If you’re looking to apply for a mortgage you want to have a detailed plan, with a time line and small goals marked along the way. This focus doesn’t mean this has to be difficult, even for the worst financial history, in fact, having this plan will really simplify things and take the worry out of your hopes and dreams of owning real estate.
The first thing you need to do is get a copy of your credit report. This is where your score comes from, so anything you need to work on is listed there. When you look at at this page you first want to look it over for mistakes. Just because you have made past mistakes doesn’t mean the companies haven’t, too. Common mistakes include them marking accounts as overdue or even just open that are currently paid or closed; they’ll also often mark your credit limit as lower than it really is on some of your cards. One of the factors in calculating your score is the amount of credit available to you versus the amount you actually use.
There are two types of payments that make up your financial history, revolving (credit cards) and installment (loans). You want to make sure you have a good history built up with both of these types of payments to get a home loan. If you don’t have much of a history with loans you’ll want to consider getting a small loan for a car or other use and be sure to make the payments in full each month. You’ll want this to be small and take approximately a year to pay off. This will show you can handle making payments and paying something off in full.
The most important thing to keep in mind when building credit for a home loan is to make sure you make all of your payments on time and check your report at least once a year, if not more often.