The term credit can mean many things. For most people, it is the ability to borrow today and pay later. The idea of “credit-worthiness” defines our personal finances, and reaches out to all parts of our financial lives. Credit can be an accounting term. You can talk about credit cards, your credit history, your credit score, or the three credits you got in college for taking Bowling. This page is the credit nerve center of ThinkGlink.com. From this page you can learn more about what credit means and how having good, bad, or mediocre credit affects your personal finances.
Identifying And Fixing Your Credit Problems Part II
Having good credit means more than just being able to secure a mortgage. Having good credit allows you to get a loan at the best terms and conditions offered in the marketplace. If you have credit problems, it's important to get them cleared up, and you have to do it yourself.
Identifying And Fixing Your Credit Problems Part I
The only person who can fix your credit is you, experts say. And it takes time and effort to make sure that credit errors are fixed, bad debts are paid off or negotiated, and other "negatives" fade into the background. And, it takes time for you to build up a track record of good credit.
Resolving Credit Disputes
Resolving credit problems or bad credit can be tough but it is doable. To start, you need to avoid credit repair or credit fixing agencies because they can not wipe your credit history clean of bankruptcies, bad loans and late payments. Instead start a paper trail as you talk with your creditors, getting copies of all the notices they sent to credit reporting agencies. Also, you can write a statement and have it attached to your credit report, explaining any negative information.