Step No. 2: Eliminate credit cards and don’t roll over balances. Once paid off, notify company that you want to close account. Step No. 3: Make a spending plan. Change your free-spending ways. Track money that’s coming in and going out. Use a debit card instead of your credit card. Download your bank transactions into a computer program for easy categorizing.

Step No. 4: Be careful about equity in your home. Billions of dollars worth of equity has been withdrawn from millions of homes in last few years. But many people pay down credit cards only to charge them up again – and then you don’t have safety net of equity in your home.

Step No. 5: Get help. For some people, problem of overspending is a psychological one. Spending can become a habit that’s as difficult to kick as alcohol, drugs or gambling. Sometimes, its due to circumstances they truly could not avoid: medical bills or divorce or loss of a job.

You can talk with a credit counselor on a private basis. It only appears on your credit report if you enter their debt repayment program.

During this holiday season, as you consider your finances, remember that Americans are now carrying $683 billion in revolving credit card debt. 47% of people who paid less than full amount on their credit card bills in a recent month, made only minimum payment due.

The good news is that planning and professional help will definitely help you turn things around.

Case in point: I went from bankrupt with zero assets living in a boarding house, to gainfully employed, running my own homebased business, with 2 houses and excellent re-established credit.

In other words, it can be done.

They will pull YOUR credit report. Not business. And do you know why? Because you have not established a business credit profile separate from your personal credit profile.

Can this be done? How does a business establish a credit profile separate from your personal credit profile? There is a credit system that will help you:

1. Lease vehicles like Lexus or Lamborghini, with added tax benefits. 2. Get a business line of credit or Small Business Loan or Business Credit Card for expanded Advertising, Inventory and other expansions your competitors can't get. 3. Invest in large projects like Commercial Property or Land or Construction that your personal credit isn't enough to guarantee. 4. Protect your personal assets from that of business by not having to sign, no personal guarantee. 5. Start over with a new credit file if you need to, instead of just being stuck with your personal credit report Start new businesses you always wanted to start with Business Loans.

6. Separate your personal credit from your new shiny business credit profile

7. Get a new credit report for every business you start. Establish business credit that's good even if you have poor personal credit (it's true!)

Anyone who wants to establish a REAL BUSINESS, with CREDIBILITY that's bankable ought to establish business credit.