With so many things affecting our lives, financial and otherwise, items such as money problems, identity theft, job loss, high debt balances on the rise collections up and not to mention collectors becoming so much more aggressive, feeling of bankrupt, even a credit union is becoming aggressive. A little help with the simple things like credit repair would certainly be nice to a lot of us, correct? If we are honest, we all have to admit that a whole lot is going on in our lives, including our financial lives.
There are literally hundreds of thousands of people that are victims of some type of money problems due to identity thieves. You or someone you know is probably one of those unfortunate victims. Maybe your problem is different, maybe you’re just overwhelmed with debt you can’t see the whole in the ground you’re buried in. You though you did great, moved from a bank to a credit union, but now the credit union has froze all your accounts. Is filing for a chapter 13 or chapter 7 bankruptcies the best thing for you, going bankrupt, or just what appears to be an easy way out?
There are several things you could do to help yourself with your money problems (going bankrupt is not one of them, getting away from a credit union is). Here are a few helpful strategies you might look at to improve your current money problems, lot in life and prevent going bankrupt.
- To verify the information on your report that is affecting you is accurate information.
- To insure that creditors do not change the ‘date of last activity’. This affects when a true 100% negative item will come off your reports.
- To monitor the viewing and use of your credit reports by unauthorized individuals or companies.
- Buy a shredder.
- Get your credit reports once each 6 months (every 3 months is better).
- Use cash whenever possible
- Use an ATM card given free at your bank
- Start working on credit repair for you now!
- Another area is to notify all three credit bureaus immediately if you’re a victim of identity theft. They will put you on a fraud alert program on your report that can last 90-180 days. Texas and California residents are allowed to actually put a freeze on their reports that will not allow anyone to see them without their first consent. Make sure you get in touch with all of the creditors that have been compromised and let them know what happened to you.
- Take good notes and list names, phone numbers, dates, and times of who you talked to and when and what they said. Be sure to have handy your account numbers when you call. If you need a new card, ask them to issue you a new one. The creditors may ask you to fill out fraud affidavits if your accounts were used fraudulently.
- Get new bank cards from your banking institution and report your identity theft to your local police by making a police report. Be sure to list all of the fraudulent accounts and get a copy of this report.
- Just so you understand, I don’t use credit cards at all. I use debt cards (ATM cards). In the past four years I have had to have my cards change over 6 different times because someone, somewhere gained access to the card numbers and bogus charges started showing up on my accounts. This is important!
- To clean bad credit, you need to know if you are in a lot of debt. This too can cause you some credit problems. You need to know how far in debt you are and take steps to get out of this debt. The first thing is to cut up the credit cards and start fresh today to begin living within your means. Credit card debt is one of the easiest ways to get into trouble. Over 80% of all households have credit card debt and average $12,000.00. Of these, 10-15% are barely able to pay off this debt. The reason for this is many people have taken the mentality that they only need to pay the minimum payment each month on each of their creditors. The key is to stop using these credit cards so the balance will actually go down as you pay on them monthly. Make it a priority to pay off your credit card debt in one year. Figure out from your current balance and divide that balance by twelve months. This is the amount that you should work to pay on monthly. Again, do not us the credit card again. This only adds to your balance and defeats the purpose of you becoming debt free. If you find that this is too difficult for you, there are services out there to help you. Go to www.debtkiller.com and www.debtkillerblog.com for more information. Get help or help yourself to putting away your credit cards and paying everything with cash. This may require you to take some drastic measures in your lifestyle but it is necessary to complete your goal of getting rid of your debt.
- Keep a close eye on your finances. Make up a budget and follow it. Sometimes checking your credit report yearly is not enough, especially since you are trying to make it better. Get your once yearly free credit report but then work on it to clean it up. Ask the credit bureau for an updated credit report each time you dispute something on it. To make sure that you do not become a victim of identity theft, or become one again, check your credit reports several times a year.
- Finally, take a look at http://www.debtkillerblog.com. They have a unique blogging system there where they cover 5 different blog subjects 5 days a week. Daily blogs cover Credit Repair Mondays, Debt Consolidation Tuesdays, Debt Settlement Wednesdays, Fast Debt Reduction Thursdays and Pot Luck Fridays.
Credit Repair Companies
Hope this helps, jj