I bet that you’re asking yourself “How in the world did I get myself into this mess?” How did those tiny little credit cards turn into big, scary monsters of debt where no matter how much I pay off, the balance never goes down? How did the dream house I bought lose so much value that it’s just not worth as much as what I paid?
Posted under fix bad credit, fix bad debt, manage your finances, savings
This post was written by fixbadcredit on February 17, 2009
Spending more than you make? Ask yourself before you make a purchase; Can I afford this? Keep track of your expenses for an entire month and compare it to your income. Make sure that you are spending less than you earn, and figure out where you can afford to reduce monthly spending. You can do this by eating out less and eating at home more, or buying store-brand groceries instead of higher prices brands. That meal at McDonald’s won’t drain your bank account by itself, but five to ten of these meals a month can put a serious dent in your pockets. Do not forget to plan for your expenses that come around annually or bi-annually such as car insurance or property taxes.
Posted under credit repair, fix bad debt, savings
This post was written by fixbadcredit on February 17, 2009
Charge-offs will appear on your credit reports when you have a case of delinquency, if you stopped paying on a credit card or an installment loan. After about 6 months of not paying, the debt becomes severely delinquent. At this point the creditor can claim the whole unpaid balance and accumulated interest as a “CHARGE OFF”.
Posted under delete charge-offs, equifax, experian, fix bad credit, improve FICO score, improve credit report, transunion
This post was written by fixbadcredit on October 16, 2008
Debt needs to be paid off, you have no other option, but you can choose the way to pay it off. If you have a certain amount of money to pay off a portion of your debt each month, you can choose to allocate any extra cash on the highest interest rate debt or the highest amount debt. Both serve the same purpose of paying off your debt, but which one is better? If I were you, I would choose the method that can help to pay off my debt faster and with less total interest.
Posted under fix bad debt
This post was written by fixbadcredit on September 19, 2008
