Getting good credit back

When your credit record has started to look a bit shabby, preferably before it has taken a turn for the worse, you need to start rebuilding it to the proper standards as soon as possible. In a world pretty much run by credit, this is highly important to your financial security. As you increase in positive points your credibility will also increase, allowing you to take credit.

Why more debt?

Well debt isn’t necessarily a bad thing, unless it turns to over-indebtedness- what distinguishes good debt from bad debt is the amount of money that you owe and the type of debt. Debt can be a positive force in your life and a valuable money management tool for your future.

Having a credit history shows potential lenders all your negative information, limiting your ability to gain credit and reach financial goals. Due to this, it is important to borrow credit again, but ensure that debt repayments are made consistently as to keep the negative points to a minimum.

What does bad credit mean for you?

  1. Insurance companies will restrict you to certain packages, or not offer you packages at all in fear of non-payment. Higher rates will usually follow if it is granted as to ensure you will pay back more, sooner.
  2. Potential employers can use this to turn you down for positions, seeing you as irresponsible
  3. Landlords may be hesitant to rent to those with bad credit records as there is a high chance you won’t make rent every month.

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Debt advice

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