Debt Consolidation For Vehicle Loans With Bad Credit Debt Consolidation For Vehicle Loans With Bad Credit

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Tuesday, November 18, 2008

Looking for a quick fix to solve your credit problems?

By Ricardo Mendiola

Since over half of the population has a credit score that teeters below the good line, with many people settling in at the "fair" line, or even worse, it's no wonder that there are so many Internet scams for credit repair aimed at taking these people's money. You do not want that person to be you, especially if you are one of these people, you really cannot afford to spend money on a scam that will not hurt you.

Why? Because credit can affect your entire life, and if you are already doing well and avoiding the need for credit repair, chances are good that with a few tips you can stay on the up side of the coin. Having good credit is not as simple as winning a coin toss, so you need to take the few skills you have been utilizing that is keeping you financially stable and sharpen these skills so that you continue to stay that way.

If you are still interested to know how you could end up in the white and orange, here is how so that you make sure you do not employ the wrong type of credit repair. Many internet scammers will laud that they have a solution; well their solution is to create a new record for yourself that has excellent credit history. Sure starting fresh seems like a great solution, but it is illegal.

Creating a new credit record is not credit repair, it is the quick and cheap way to try and start again, and it's also credit fraud. Credit fraud is a federal offense and punishable in the same manner as any other federal offense, prison time and/or fines. This is not a place you want to be in. Fundamentally, there are even more problems besides jail with considering this as an option.

You cannot start credit repair by insisting the problems and debt you have now are going to go away. Even with more credit available to you, you still have debt in your name, address, and social security card number. That old debt is not going to go away, and in fact, with the opportunity to get more credit, you will be twice in debt as what you thought you could be. SO if you think your situation is bad, it will only get worse.

The simple truth of the matter is that if you need to solve your problems, you need to take the old steadfast route of credit repair. First you need to figure out why you are in so much debt, so that after you get back on your feet debt-wise, you do not repeat your errors and continue to build and maintain a good credit history.

The best route to start your credit repair is to start with debt consolidation which a professional can help you with. This way you compile all your debt into one place at a manageable payment rate, so that you start decreasing your debt and you stop making late payments, both of these things will help you build that score back up.

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