Build Your Survival Foundation
Why is it important to have a good credit?
With today’s society becoming more and more business oriented, establishing
and maintaining good credit is vital if you plan to do any of the following:
1. Apply for employment
2. Rent an apartment
3. Open a bank account
4. Setup an account with public service or the telephone company
It used to be that establishing good credit was important only if you planned to
buy a home or car, but not anymore. The simplest task, such as applying for
employment could very much mean that you need a good credit.
Having bad credit could impede your ability to survive. This is sad to say, but it is
a proven fact that people have been turned down top quality job positions just
because of their credit rating despite the fact that that particular job could be
exactly what a person needs to fix their credit. That’s a scary catch twenty-two
don’t you think?
Ok, I’m caught in that scary catch twenty-two, what should I do?
Start by requesting a copy of your credit report in writing. You are entitled by
Federal Law to receive a free annual credit report. There are three major creditreporting
agencies that you need to contact, you can run a search on the internet
or find their information in a phone book. If you have already received a credit
report for that year, you may also use any letter of credit denial by sending in a
copy of that letter within 60 days of its receipt with your written request. Be sure
to include a copy of your state issued ID, proof of your address and your last
Credit Repair Strategies Revealed
known addresses for the past 5 years. It is very important to include a copy of
your social security card.
What does is mean to have good credit? Who cares who sees it?
Unbelievably, your credit report is public information to anybody where you are
asking for a line of credit. Any time you apply for employment, an apartment, or
attempt to make a big purchase, you are asking for credit and permitting the
potential creditor to view your credit report. Although your credit report does not
reveal a personality diagnose, it may just as well, considering it is through your
credit report how others (potential creditors) will perceive what kind of person you
are.
Businesses look into your credit report and determine by your ability to pay and
follow through on your promises what kind of person you are.
Do you adhere to your promises?
Are you stable, do you follow through on payments?
If so, then you most likely are a good and reliable person. You may be worth
giving a chance at that perfect job, or residing in that particular community.
What about good people with bad credit?
You may be a good person, you may even be the most considerate and
compassionate person alive; however, if your credit report shows a late payment
or no payment on an account at all, your entire being could be perceived as not
reliable, unstable and untrustworthy. Prepare yourself to deal with a lot of paper
work and phone time once you are ready to repair your credit.
What does this mean? How can I protect my reputation?
What this means is that it is time for you to fix your credit. Your income may be
null or limited, that’s ok, there is still a way to save your personal reputation and
open more doors of opportunity. Once you receive your credit report(s), contact
the creditors listed and make payment arrangements, even if it is just $1-$5 a
month. Doing this shows your willingness to get back on track, it show that you
are putting effort towards establishing stability and responsibility.
Whom can I turn to for help?
There are many resources available to assist with credit repair, make use of your
library or the internet. Most credit repair agencies offer free services, take
advantage of their offers and assistance. Building your credit is more than being
able to make a big purchase, it also means you are establishing your personal
reputation and setting your survival foundation.
