Credit counseling and its effectsWritten by Jakob Jelling
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One thing that will effect your credit rating is promptness of your credit-counseling agency. When you are in a credit-counseling program you will give agency a monthly check that they will use to pay your creditors. If agency does not pay your creditors on time or in full your credit score will be impacted. Be sure to check out history of your credit-counseling agency to avoid this. As you might assume, committing to a credit-counseling program does require a lot of work and conviction from you. The hardest part for many people is to break habit of reaching for a credit card to pay for a bill that just came in mail. The second hardest thing for most people to do is to learn to live within in their means. Everyone likes instant gratification and often we feel entitled to it, but perhaps if we had shown a little more discipline in first place we wouldn't need credit counseling now. As you can see, credit counseling is a good and reasonable option if you find yourself with too much debt. Credit counseling will not effect your credit score and will ultimately make you a better person as you will learn better skills for handling your money. If you find yourself slipping into revolving credit card debt problems make sure you take correct steps to resolve problem before you are forced into bankruptcy.
Jakob Jelling is the founder of http://www.cashbazar.com. Visit his website for the latest on personal finance, debt elimination, budgeting, credit cards and real estate.
| | Five Debt Negotiation Facts Written by Gary Gresham
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Second, keep accurate records, from this moment, of what you pay and what you borrow. This will enable you to see your own spending and paying habits are to help you discuss them with people you are in debt to. Third, be aware that companies you are in debt to want your money, but they may or may not work with you. Your debt makes them more money in fees, but there will come a point when they are ready to end arrangement as well. Fourth, if you really want to learn how to negotiate debt settlements, you have to be prepared to ask for exactly what you want. Keep asking and keep looking for a solution that will benefit both you and your creditors. Fifth, be willing to follow through with debt reduction planning tools you and your creditors have negotiated. Put yourself on line by asking questions, then represent yourself with integrity by following through on terms of your negotiations. Debt negotiation works, and offers solutions to achieve financial freedom without bankruptcy and fact that you were able to handle your own debt. Battling debt can be a scary time in anyone's life, but knowing these debt negotiation facts offers you a light at end of tunnel. Copyright © 2005 Credit Repair Facts.com All Rights Reserved.
This article is supplied by http://www.credit-repair-facts.com where you will find credit information, debt elimination programs and informative facts that give you the knowledge to correct your own credit and credit report. For more credit related articles like these go to: http://www.credit-repair-facts.com/articles_1.html
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