Slow And Steady Is The Best Way To Clean Up Bad Credit
A bad credit problem can influence your every waking and sleeping hour. There are few things more worrying than wondering how to make ends meet, and when your outgoings, comprising loans, cards, hire purchase deals and such like, are biting huge chunks out of your income, it really can look like an impossible thing to sort out.
One major problem is denial. Although youre well aware of the debts intellectually, theres an emotional block on them. So to start with, write down all your outgoings, what are their values and how long you have left to pay them. This, of course means everything. You have to be honest with yourself.
It could be time to consider a consolidation loan. You can take out one big loan with a long repayment term and pay a small amount off every month. For the first few months it might look like nothing is happening, but persevere and you will eventually see that your payments are taking larger and larger bites out of the consolidation loan. Hopefully by now youll have cut up your credit cards, because the last thing you want is to be paying off more debts. Self-discipline is key. But...