*Loan,banking and credit>>>credit repair

Is there a good way to repair your credit?

I hit a really tough time about 2 years ago, it started with the birth of my daughter and loosing my job afterwards. It seems like bad luck has just been following me! Is there a best way to go about repairing credit? I heard consolidation was not good.

Here are five common sense steps to get you on the road to recovery:

1) Begin Paying Your Bills Early...Worst-Case, On Time

Stop paying bills late. Draw a line in the sand and say..."No more!
All bills from this point on will be paid early...worst-case, on time." It鈥檚 amazing how much you will save in late fees and overdrafts...not to mention the satisfaction of being responsible. Initially it isn't easy. But the short-term sacrifices are worth long-term financial stability.

This is easier today than it was for us many years ago. Today you can take advantage of online bill-pay or automatic bill-pay.

2) Avoid Finance Companies

It's easy to get for people with bad credit to get a loan from a finance company. And some (misinformed) people will actually tell you this is good. Credit from a finance company is not good. Not only is it very expensive, having finance companies appear on your credit reports lowers your FICO credit scores (which makes everything else more expensive).

3) Just Say, "No," to Co-Signers

People with bad credit often think, "The only way I can get new credit is to have a co-signer on a loan." Whether that's from a parent, brother, sister, relative, friend...whatever...you don't need that kind of help reestablishing credit.

Bottom line: you don't want to have co-signers for several reasons.

First, it's not a wise thing to do. It even says not to co-sign in the Bible. You put the co-signer's credit on the line if something goes wrong. If you don't make the payment, guess who they come after? Yup鈥攖he co-signer. Can you say, "Friendship over," or, "Relationship strained?"

In addition, having co-signers appear on your credit reports weakens your position with future lenders. When a new lender sees you've had a co-signer, they'll consider you a greater risk and they may ask for a co-signer for their loan as well. In other words, once you get a co-signer for one loan, you start a vicious cycle that is hard to break.

4) The Word "No" Means Nothing

You must understand...most of the lenders you come into contact with when you have bad credit have no interest in helping you recover. You're going to hear the word "no" a lot.

You've got to get in your head that the word "no" means absolutely nothing. So if a car dealer tells you, "There's no way you'll be able to get financed for a car loan, you shouldn't believe him. If a mortgage broker laughs at your goal of owning your first home instead of renting...laugh right back at her.

5) Use a credit repair service

The one I used is Bradley Ross Law. In 6 mths my score went from 580 to 675. Then in another 3 mths, I was at 720. They dispute the negative items on your credit report. I know someone that had a bankruptcy removed from their credit report...8 mths after!

This site below has great stuff like this. It focuses on people recovering from bankruptcy, but it is good info for everyone wanting to rebuild or repair credit. Source(s): http://www.lifeafterbankruptcy.com...
http://www.BradleyRossLaw.com/

Consolidation only works if you have a house, and are willing to borrow against the equity in your house. You pay off the cards with the money you get and then only have one bill to pay each month. That's fine if you are disciplined enough to not use your cards after that, but most people aren't, which is why they got so far in debt in the first place. So what happens is, you run the cards back up, miss a payment on your consolidation loan, lose your house and you are still in debt. Bad luck is not a living nor a tangible thing that follows people. It's all a matter of choice, and consequences of those choices.
Debt consolidators will charge you a fee, but may save you some money depending on your debt amount. To fix your credit, pull a free report and start calling every single company that has you in collections. They will most of the time take a settlement or put you on a payment plan where you pay half or 75% of what you owe and they put your debt as paid on your credit report. You have to make sure you get receipts for all the transactions and then report them to all 3 credit bureau's in case the creditor makes a mistake. And don't let the creditors take advantage of you, you have rights so if you feel wronged, don't stand for it.
the best way is paying off any outstanding balances, pay your bills on time. If your credit is really bad try getting a secured loan from your bank or a secured credit card. Pay it on time, unfortunately repairing your credit takes about 100 times longer than the damage already done. But as long as you are on time with everything from this point on, your score will come up in time. Another tip, start an emergency savings account, even if you can only put $25 a pay in, it may prevent something like this from happening again.
I hope this heslp you:

Step-by-Step Credit Repair Guide
http://www.debt-loan-refinance-mortgage-...