The very first step you need to take to repair bad credit, is to focus on paying all of your bills on time. At the same time, begin reducing credit cards and other loans you may have. Using certain credit building tools may help too.
It’s a lot tougher to repair your bad credit than it is starting to establish new credit. You’re now in a more difficult position of trying to convince credit card issuers and other lenders that you can be an acceptable credit risk.
Even though you’ve messed up before and got behind on your payments, you have to convince them that you will do everything in your power to change your ways.
It’s not just the 3 big credit bureaus that know everything about you
September 29, 2017
If it wasn’t before, Equifax now certainly is a household name.
Since the big Equifax data breach, many consumers have engaged — perhaps for the first time — with each of the three major U.S. credit bureaus, scrambling to secure their identities after hackers stole the personal information of 143 million Americans.
But these are not the only consumer reporting agencies that possess sensitive consumer information. And they’re not the only places you should look to lock down your personal information.
Much like Equifax, Experian and TransUnion, some of the smaller credit agencies will allow you to freeze your credit files, including ChexSystems, Innovis, Clarity Services and CoreLogic. None of these firms will charge you to place a security freeze on your file.
Do a search on the internet for no credit check loans, and you will be bombarded with all types of offers. From approvals in ninety (90) seconds to depositing up to $10,000.00 in your checking account in a matter of a few hours.
Individuals that have low credit scores, and/or bad payment records, are the ones that these online lenders seek out. Unfortunately, these same individuals are the ones that usually need emergency type loans, and they are often caught in the short term borrowing cycle.
Important Tips on How to Pay Off Debt for Young Adults
Debt has become so commonplace it almost seems like the American pastime. Many people buy what they want and worry about how to pay for it later. Not surprisingly, young adults are accumulating debt rather quickly and feeling the effects of the extra burden.
Debt caused by student loans is on the rise. Between 2007 and 2012, individual debt increased by nearly $5,000.00. This is a significant amount considering how little the average college student makes in wages.
Feeling the pressure of stress, young adults are realizing the importance of gaining control and learning how to pay off debt. They are taking active steps to resolve outstanding balances on their credit cards, paying off their mortgages and car loans earlier, and reducing or eliminating other forms of debt.
Having debt is never easy or fun. In your 20’s, studies show this age group seem to be able to manage their debt without too much stress and struggle. This all seems to change once people hit their mid-30’s.
There is almost a tipping point that defines the future in the years between 35-44. This age group appears to have the highest level of debt than any other age group according to the Census Bureau. This age carries 25% more debt than the next highest debt age grouping.
Coming in at more than $100,000 in debt, it is easy to see why the 30 something year olds feel like they are at a tipping point.
Don’t Get Caught By an Identity Thief – You Can’t Afford It
It seems like the number and different types of scams increase in direct proportion to the percentage of downturn in the economy. It’s either that, or we’re raising a generation of individuals with no scruples or concern for others. Just about every day, we hear of individuals who have been the victim of identity theft and the absolute mess it has made of their lives.
There are so many ways that these criminals can get access to your personal information, it’s enough to make one shudder. Unfortunately, identity theft is one of the fastest growing crimes in this country, however, there are a few steps that you can take that will deter them somewhat, or at least slow them down.
In 2011, there were in excess of 11,000,000 (read this eleven million) cases of identity theft in the United States with an estimated loss of $56,000,000,000 (fifty six billion dollars) When you hear what age group is hit the most and also loses the most, you may have a hard time accepting it. You, as I did, assume that senior citizens would be targeted the most, but that’s not the case…it’s the 18 to 24 year age group. They are online more and it takes them longer to realize that they have been victimized.
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