Avoiding Bad Credit and Repair

Staying in contact with your payments each month can help you avoid bad credit. If you research the marketplace before coming to a purchasing decision, you are well on your way to avoiding bad credit and repair credit hassles.

You want to consider all applications, including credit cards, student loans, mortgages, and car loans carefully to avoid being overcharged. Making the wise decision ahead of the game is the ultimate solution to maintaining good credit.

Most people when taking out a home mortgage loan are not aware of the options available to them. Many will walk in the bank door, fill out the application, and accept the terms & conditions when offered to them.

If you ever heard the many reports that swept the pages of newspapers, television and other advertising sources…families and individuals are filing bankruptcy because they cannot afford their homes anymore.

This is because these people did not take the time to check the marketplace first and searching the options available to them. As you can see, the millions reported are in debt and searching for a way to repair their credit. The solution then to avoiding bad credit and repair is to research, invest wisely, make good decisions, and budget. Being informed and educated is two of the best tools offered to us.

There are mortgage loans that offer overpayments and underpayments and these loans include vacation packages and lump sum payments to the borrowers. There are also other loans available that offer low mortgage monthly installments and low interest rates with insurance policies attached that will pay your mortgage if you are sick, unemployed, in an accident and so on.

On the other hand, there are mortgage loans that have high interest rates, high mortgages, and balloon payments attached. When balloon payments are attached to home mortgages it is almost guaranteed in a few years you will be searching for a solution to repair your credit. There are very few home lenders willing to tell you the truth about the variety of home loans available.

Most of the lenders are making money and you are a source of income. It is important to scope the terms & agreements carefully as well as reading all fine prints on any loan contract before you sign.

If you want to avoid bad credit and repair, you want to stay on the right path. Loans are agreements that are made between two parties and attached are interest rates and other fees. If you are applying for a home loan and want to avoid bad credit, it makes sense to learn what the fees include and how much those fees are.

Anytime you take out a mortgage loan there are upfront fees attached. In some cases, you can get a home for little or no cost. Searching the marketplace can save you time and money.



















Some home loans offer an ‘acceleration clause’, which covers you if you miss mortgage payments. The lender will apply the clause by allowing you leniency providing you make payments the following month on time. This type of loan is great for avoiding bad credit, foreclosures, and repossessions. The marketplace is swarming with realtors and other sources that will help you get a mortgage loan affordable to you with benefits included.





Car Loans

If you are applying for a car loan, it is also important to research the marketplace carefully before agreeing to any terms & conditions. Make sure that your find the best deals affordable to you.

College Loans
College I learned a golden rule that applies to everyone. This rule is that most car dealers up the fees on cars 15%. This means if you negotiate with the dealer you can get a reduction on the vehicle up to 15%.



Credit Cards

Another word of advice is when applying for credit cards you want to sway away from cards that have fees attached and high interest rates. Avoid credit card offers that have upfront fees offer a high line of credit.



Student Loans
You also need to consider student loans. You may be qualified for a student grant from the government. This is the first place you want to start before committing your self to a loan agreement.

Assumptions in Credit Repair

My friends are knowing that I recently bought a new house - of course with a nice CREDIT!

When it comes to life the majority are always assuming, and the most of them assume the worst.

So - I´ll decided to start this "blogging-thing" about finances.... I hope you will enjoy it.

Creditors, debtors or anyone today all base their theories on assumptions and assumptions from the beginning of time have caused nothing but failure.

When people fail to pay their bills on time, many of the creditors assume that the debtor does not have the means to pay the debt. Many creditors with the assumption that you are not capable of paying your bills will often set up an arrangement or else lower the amount so that you can repay the debt.

This is a step to credit repair, however it takes you to contact the creditors to let them know your situation.

If you have several bills on hand and all the bills are pressing it makes sense to payoff the debt that benefits you the most. After this bill is paid you can set aside an amount the following paycheck to payoff another of the bills.

Once you follow this strategy it allows you to work your bills down gradually thus repairing your credit. If you don’t have the funds to repay the entire bill at most pay the minimum amount so that you can continue using the service.

Most debtors assume they are in debt and there is nothing they can do to resolve the problems that plague their lives everyday.

I´ll write more about the topic the next days, so stay tuned!!