The economy is in dire straits.
Many people have had to leave their homes and live with a relative or have had to foreclose on their home.
These are not isolated instances and it doesn't make any one feel better knowing that we are all in this same boat.
The unemployment rate is rising and many are using their credit cards to buy food and pay the bills.
Before long the credit needs to be repaired.
There are numerous companies advertising to fix credit report.
Some are simply looking to make a quick buck off of you.
They will charge you an up front fee and possibly make your situation worse.
You can take steps on your own to help yourself.
The first thing that you will want to do is to take a look at your report by requesting a free copy.
It will show what is existing and your past payment history.
You can receive a free report once a year.
Get a copy from all three of the major companies.
Look to see if there are any mistakes or incorrect information and deal with this immediately.
These can count against you.
Note that you will be considered having bad credit if you habitually skip or make late payments.
As a result, you may be turned down for a new credit card or be left out of a better job or new home opportunities.
The payment history is what is looked at first and has a major impact.
It is important to work with your creditors and as them to remove any charge offs or collection costs.
Work on bringing down the balances that are owed.
It is very stressful to live with a large amount of debt.
If you take he initiative and work to fix credit report repair any errors, begin to manage your credit responsibly You cannot control unexpected emergencies but you can stop impulsive, compulsive spending.
Stop using the credit cards indiscriminately.
Look for ways to gather more income each month to pay the balances down quicker.
Even a few hours each night with a new part time job will help.
Get a roommate to help with the rent! As you chip away at these bills, gingerly start looking for was to establish some new credit.
Remember to take baby steps here since this is like inviting the dog that bit you back in to sit on your lap again.