Credit Repair - Is Being In Dept The Cause For Your Current Credit Rating?
Someone told me they can't understand why their credit rating is so low, they've never missed any payments. They found it hard to believe this could happen. But the truth is that a bad credit rating can happen in several ways other than the obvious, not paying.
Oh sure, if you've always paid on time and your rating is still down, what can you do to improve it? You can get out of debt, that's what. But then the question comes, how do you do this?
Remember, credit and debt go hand in hand. So, whether you've kept up with your payments or have missed a couple in the past, debt is debt. The less debt you have, the better off you'll be. Sounds simple right?
But what about the folks that don't have a lot of debt, but have a less than stellar credit rating. What can they do to repair their credit? The first thing to do is realize they CAN do something about it themselves, but they have to believe they can.
I recently got my hands on a booklette about 101 ways to eliminate debt. I'll write about it more in other articles. The thing that got to me was how good someone feels after they've made a few extra bucks. The extra bucks can be for eliminating debt or moving towards a better credit rating. Either way, the choice is up to the individual. No one will do it for you. Doing something to improve your financial self is never a bad thing. And, once you're in that position, you will have the ability to do it over and over again.