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Follow on Google News | Credit Repair Programs That Can Lift You Out of a Bad Credit SituationUsage of credit cards can act as both a boon and a bane for the user. If the user is not particular regarding the payments, the number of cards used etc will create a negative impact on his/her financial position.
By: Mark Jameson William Roberts, editor of http://www.cleancreditfast.com, notes the importance of advocacy for consumers during this economic period: “The public is experiencing a severe crisis with debt and agencies must be set up for the large amounts of people who will require assistance.” 1. You should reduce the number of credit cards used and for the unused cards the creditors should be informed to close the accounts. 2. You should write letters to the creditors to reduce the credit limits of the cards in order to decrease expenses. 3. The bills should be paid in time in order to avoid surcharges. The credit card companies ask for a minimum amount to be paid every time. You should know that the amount is just an extra income for the creditors. 4. After paying bills continuously for few months you can go for another one. Once a bad report is generated, it takes months of transaction to repair. 5. You should be aware of the interest rates charged by the creditors. In case the ratings are a little lower, the creditors tend to increase the rates. You should keep a regular track of the changes in rates. 6. You can sign up with private companies to keep a watch on the credit score. These companies charge a very nominal fee for the service. 7. Online facilities are available to view credit reports. You can view them and if any wrong entries are found, you can write to the credit card Company about the report. Discrepancies such as incorrectly reported payments, extra accounts, can bring you into a bad credit situation. 8. You can opt for a prepaid credit card. You make advance payments as planned for the expenses and then make the purchases. This can regulate the expenses. Thus a user of credit card should always be aware of the negative impacts of the repots generated by the companies. And in a situation of worry, the above steps can lift you out of a bad credit situation. http://www.cleancreditfast.com/ # # # If you are one of the millions of Americans who has over $10,000 in unsecured debt, it is time you found out about the debt settlement options available to you. Due to the current economy an overwhelming amount of people are in debt, creditors are having no choice but to agree to debt settlement deals. http://www.cleancreditfast.com/ End
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