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Credit and what it means to you

Momtrying2makeit | May 10, 2010 |

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Most of us use it everyday, credit. It is a need but we all know that it can get us into trouble too. Credit can play a factor in if you can buy a home, car, or even a new computer. Debt comes along with credit too. We all know that we can buy what we want but we know that when the bill comes in the mail we must pay it.

I feel credit is a great thing to have in emergencies however, we know we use it for everyday purchases, from the rent to buying food for our families. But what happens when we have all that credit and use it all up? Or we lose our jobs, or hours get cut. We know how to use credit but do we know how to repair it? I say the answer to this is no. Most of us can apply for credit, and get approved but when it comes down to getting out of debt we are clueless.

Credit repair is a long process. Knowing this one must think are there ways to get help with it? There is but there are many different programs out there that promise many things.

The first step is to get your credit reports from the three major companies. They are as follow; TransUnion, Experian, and Equifax. Your reports are free if it has been a year since you have had one. After you get all your reports make sure everything is right. If not dispute what is incorrect by phone, or in writing. Make sure you write everything done whom you speak too about this and keep a record of it as well.

After this is all completed start making payment plans with your debts and stick to it. This is the hard part of repairing your credit. There is also credit repair companies that can help as well as debt consoldation as well. Either way credit is great but one knows that with credit comes a big responability as well.