Bills Are Due and Credit Repair Is In Place
Author: Barry Gilbert
The bills are due and credit repair is in place. This happens
too many times with many individuals and families, so don't get
discouraged there is hope. We can calculate our bills by
factoring in utilities, telephone, credit cards, mortgage, rent,
lease, purchases, and so on. Each of us needs a vehicle to get
to work so this is obviously an important item that we need.
Vehicles are used or new. So you need to ask if you need a new
car or a used car. If you already have car payments is there a
solution for lowering your monthly payments? Telephone and
utilities bills can often wait a while longer before the
services are disconnected, so if you have a late car payment it
might be wise to take care of this loan first.
This will give you time to find a solution for making payments
on your phone and utilities. You might even want to check into
some of the savings that utilities and phone companies offer.
Savings such as Senior Citizen Discounts, or low-income family
discounts are often available by many of the providers. Try to
keep minimal services on your phone to avoid overpaying a phone
bill.
If the service providers offer a lower rate on packages it might
be wiser to go this route, instead of adding features
separately. If your funds are low and you are not making enough
to make ends meet, there are organizations available that help
low-income families make ends meet. The Social Services offer
help to families with low-income, and often will help pay
utility bills. There is help available you just have to be
willing to ask for the help.
If you are confined to a high car payment and see that you can't
make ends meet, you might want to sell the vehicle to payoff
your loan. Try to resell the car for a higher price that what is
owed to make a little extra cash. Lenders sometimes offer
extension on car payments so you do have the option of calling
your lender and asking for help. Some lenders will even offer a
new payment agreement to reduce your monthly installments.
When you see that you are having difficulty with paying what you
owe, it is always wise to come up with the best possible
solution. Researching the market is a great source for finding a
solution to repairing credit. The key is being careful and smart
when you find that source. Never assume that any company that
claims to lower your bills and help repair your credit works.
It is easier to get in debt than it is to get out of debt, so
when you make purchases or sign your name to a debt be sure that
you can meet the expectations placed on you. We all go through
situations that make times difficult at some point; however
there is always a way to get out. Loans that require collateral
upfront are often some of the loans that are difficult to
escape.
For example, if you apply for a loan and put your car up as
collateral, the company will probably repossess your vehicle if
you continue missing payments. On the other hand if you purchase
a refrigerator on credit the lender most likely will not
confiscate your item; however the lender will most likely take
you to court for payment. This only adds problem to problem, so
if you can avoid loans with collateral, by all means do so.
If your credit isn't so bad that you can't take out another loan
to repay your current debts, this is another solution to
repairing your credit. For example, you owe $7000 and take out a
loan for $10,000. If you repay your debts, you have $3000
remaining which you can use to pay down the current loan. This
will help you repair your credit and build your credit ratings.
Make sure you find a lender that will offer low interest rates
and low monthly installments so that you can make ends meet. If
you are able to get the loan don't hesitate to repay all your
debts rather than spending the money on other items.