Guest Blogging

I’m thrilled to let you know I’ll be a guest blogger on Steve Thomas’s blog, Life Change For You.

Steve was a guest at my blog, Kreative Ramblings, yesterday, October 22, and so I traded a post with him that will be published at his blog tomorrow.

I hope you’ll take a few minutes tomorrow to stop over to see what else Steve has. There’s great video there, too.

Yours in learning through guest blogging,

Sudden Debt…Now What?

Unfortunately, sudden debt can crash unexpectedly into the lives of almost any of us at any time. We can be going along through life quite happily and then bang! Without warning we find ourselves in debt and it’s well… so sudden! Debt is also something that many of us have heard often since childhood is a bad thing. And so that just adds to our woes.

Here you are, unexpectedly in a traumatic situation and you get hit by the double whammy of sudden debt and guilt!

If you think it will never happen to you don’t be too sure.

Think of something as simple as an accident; it doesn’t even have to be your fault, and you get hospitalized for a couple of months. Do you think while you’re laid up there in your hospital bed it’s just possible that making the payment for your credit card bill might get forgotten?

And what happens when you forget your monthly credit payments? Those nice friendly guys at the loan company who wanted to increase your credit card limit only last month now turn into Don Corleone and the boys from Mob! They start to slap on late charges, and the exorbitant interest now starts to attract interest on itself and, and… Well you get the picture.

So what do you do when you find yourself facing sudden debt?

The first thing is..Don’t panic! I know that’s easy enough to say but it really isn’t going to help. Just stop and think of a plan of action.

Before you do anything else, contact the companies you owe the money to. Explain the situation you’ve found yourself in and ask what they can do to help. They may be willing to freeze the interest, especially if you’ve always had a triple A credit rating in the past.

Now, lets take a worst case scenario here and just assume your creditors aren’t helpful. If you find this is the case, then start to look at some of the options.

*Do you have a family member that can lend you the cash to pay off what you owe?
*If not, what about your bank?
*Ask them for a loan that you can repay over a period of time you feel comfortable with.
*That way you begin to take control over the situation and you will soon begin to whittle away at that sudden debt.

Yours in dealing with debt,

P.S. Take a few minutes to stop by Konceptuality to sign up for our ezine, On the Bright Side. You’ll also find a few more tips and tricks and helpful articles on managing your debt here

Debt Consolidation…Poor Credit Solution

With debt consolidation poor credit can become a thing of the past and enable you to get back on your feet financially!

So the first question you probably have is if you qualify for debt consolidation. Poor credit isn’t necessarily a barrier to you getting a loan to consolidate your debt as the companies understand your situation.

You do, however, have to have an explanation when you apply for a loan for debt consolidation. In fact, poor credit requires you to explain how you came to be in arrears and, just as importantly, why things are going to be different now.

Both the banks and the loan companies understand that from time to time anyone can fall on hard times. That’s especially true with the current economic situation. What they really want to be certain of is that if they help you fix the problem you will be able to pay the money back to them.

Before you apply for a loan for debt consolidation you need to sit down and figure what you’re going to say to them. First up, make sure you only tell them the truth. One of the biggest reasons why people get turned down for debt consolidation isn’t poor credit! It’s because they lied on their application form. It’s that simple.

Think about it. If you were asked to help someone out would you trust them if they lied to you? Of course you wouldn’t and neither will the loan companies. They are looking for people to lie to them on their applications and they are very good at spotting the tall tales. They have a lot of practice!

So what do you say to them? You tell them how you came to be in arrears with your finances, and don’t be embarrassed. They’d sooner help someone who’s honest enough to admit a mistake than think you’re hiding something.

If you’re behind on your bills because your hours have been cut at work; tell them. If you’re looking for a part-time job to help you get back on your feet again, tell them. They aren’t trying to judge you as a person; they simply want to know that they will get their money back.

So forget all the hassle of debt collection calls and get peace of mind, because with debt consolidation poor credit really can be a thing of the past.

Yours in getting out of debt,

3 In 1 Credit Report

- Getting A Copy Of Your Credit Report And Seeing What Needs To Be Improved

If you are concerned about identify theft or regular credit monitoring, you likely understand the importance of obtaining a copy of your free personal credit report.

And if not, come to our house; my husband regularly monitors his numbers and his report!

So, heed this! Neglecting to monitor your credit may prove damaging in the long run. It does not take long for a person to access your information and begin opening accounts in your name. For this matter, consumers are advised to obtain a 3 in 1 credit report every six months.

Benefits of a Credit Report

Aside from protecting yourself against identify theft, credit monitoring is essential for improving your credit rating. Although lenders use credit reports to judge a loan applicant’s creditworthiness, credit reports are also beneficial because they keep us informed of our credit standing. Thus, we can know our odds of obtaining a home loan, auto loan, etc.

Further, in recent years, employers are also using credit reports to determine an applicant’s “suitability” for employment.

How to Get a Copy of Your Credit Report

Getting a copy of your 3 in 1 credit report is simple. Furthermore, because reports are viewable online, there is no valid reason not to check your report at least once annually. Every city across the country has a local credit agency that will issue copies of your credit report from all three bureaus. However, if you prefer the convenience of the internet, there are various Web sites that offer 3 in 1 reports for a small fee.

But even better, one of the local credit unions to which I belong included in this month’s newsletter that we are able to obtain our credit report from them for free once a year. So, if you belong to one, you might want to check with your local credit union to see if they also provide that service.

In the meantime, to obtain a copy of your personal reports, you must provide information such as name, address, social security number, etc. Once your information is verified, credit reports are either sent via email, or viewable from the Web site. Your entire credit history will show before your eyes.

Why Obtain Copies of a 3 in 1 Credit Report?

If you are hoping to improve your credit rating, obtaining a 3 in 1 credit report should be the first step you take. This way, you know exactly what needs improving. The report will list all creditors, current balances, and you account standing. Moreover, you should review your report for errors. If inaccuracies are present, contact the bureau and discuss how to correct the matter.

In addition, credit reports include a credit score. This 3 digit number carries a lot of weight. Low scores indicate bad credit, whereas high scores equal good credit. If the goal is to improve credit score, it may be wise to improve in certain areas. For example, avoid late or skipped payments, reduce debt to income ratio, settle collection accounts, and limit your number of credit inquiries.

Yours in getting your credit report,