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Bad Credit is a Fact of Life

I’m not one for words. You see I don’t have a bad place to run, because I have not been taken out of working-age years by the stress of high unemployment and pensions. After receiving a job I’m often amazed with the results; I am regularly a millionaire making my living as a self employed professional with a pittance in the sense that I barely make ends meet.

As an extra help many businessmen or even members of the public will call the number of their bank and will inform them of some of the un-real problems the public is having with their financial situation.

Too many young people looking for loans just to sit like wild animal while having the money to pay back the bills when they should have been doing whatever it is with the money.

While being free is a privilege, being self employed is also a privilege and you should not be proud of it.

Many wealthy people come to me when I’m with a bank and tell me they’ll make as great a living as anyone I ever met. If they do of course it’s all the responsibility I have as a former employee, which will depend on what I can manage the institution then I will most likely have to bail myself out of a problem and hope for the best somewhere.

No one wants to be trapped by the stress of unemployment and the high cost of living, as they say.

I think that the most powerful word that people would ever use to describe me is poor Job!

I have lived here for 30 years now and I’ve never once felt like someone just kept calling me that when I look at my pay statement. Maybe that’s why I have only ever earned 3.5%, or more like that.

It’s not bad for a few pounds but I really don’t deserve to be subjected to the higher cost of living I used to have.

When it comes to bad credit the only two I have been accepted for are the ones with the best rates. We have all experienced the agony of having to pay interest rates many times higher than our income because we didn’t earn enough just to support ourselves for weeks.

Another thing that many of us never let ourselves get into is bad credit, to add insult to injury.

My bad credit has done nothing but hurt me. It’s such a bitter pill to swallow while you just can’t seem to think of a way out from this situation.

Even if it’s so much easier to get yourself approved for a mortgage, you will feel burned into a stupendous spending pattern by now.

Hopefully this article has helped establish a clear foundation to repair any bad credit you may have. You can start repairing your economic situation right now with a bit of forethought and knowledge your early in life.

Bad Credit Reports – Why It’s Important

Many people have bad credit and have to contend with late penalties. Yet, bad credit remains a highly confidential information in today’s competitive credit reporting business. If you have bad credit, how you have to deal with bad credit reporting may well determine if you qualify for an affordable loan or the chance of getting a mortgage at the bottom of the budget.

Once you’ve found your credit report accurate, it’s then time to start to apply for a mortgage. Many lenders will require a monthly or annual credit report before they approve you for any loan. While there are many legitimate lenders, the likelihood of you becoming approved for a loan and then suddenly having bad credit has long made it harder to qualify for a mortgage than it has been previously.

With so many lines of credit still open, there may be little time left before anyone is asking for your credit report. Therefore, don’t despair. If you have struggled through this process in vain to re-establish good credit, then you have come to the right decision.

If you’re considering getting a loan or any form of loan at that time, make sure you have a credit report reflecting your most recent credit report. These types of credit reports are often based on public records that individual lenders must pass on to potential lenders. Having a written copy of your credit report can help you make an informed decision before applying. However, doing so will only be possible if you seek prompt assistance and treatment at the same time.

There is a fact, known as the ‘Bad Credit Protection Act of 1996’, that exists that provides consumers free and complete access to their personal information. Consumers are able to bring timely and accurate reports of their financial situation to lenders and their creditors. This is especially necessary in times of economic or social crisis.