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Reporting ProblemsCredit Reporting - Credit Reporting
| Reporting Problems One way that you can sometimes prevent getting a bad credit rating is by calling the people you owe money to and explaining the situation...such as being layed off work and offering to pay as much as you can each month until you get a new job. This in turn will show the people you owe money to that you are coming forth and making payments the best you can.This will sometimes prevent them from putting you down as a bad credit risk. These companies appreciate the fact that YOU CALL THEM and they don't have to call you and call you and call you with no response. Then it looks like you are running out on your obligation. Sometimes even these companies will help you to reach your other creditors and explain the situation to them so that you are given some breathing space. Even if you offer to only pay the interest and will catch up with the principal as soon as you can. This can help in many ways that you would not believe. |
| Some companies will work with you as far as credit, but most just have a company policy that if it passes 30 days late then they just automatically report you. I think it is a computer system kind of thing that can't be stopped unless the payment is made. |
| When I quit my job I called all my banks and utility companies and had the payment due dates changed so I could handle the finances better. You can do that. I even called my gas company and had them lower my monthly budget payment to a payment I could afford. There are so many different ways to not ruin your rating. |
| Yes you can do this. But did you know that must credit card companies offer an insurance that will cover if you become injured or unemployed the insurance will pick up your monthly payments until you can or will be able start back paying. |
#4A highly secure location | I always get offered that insurance, but have never taken them up on it. How much does it typically run? Is it worthwhile pursuing this? |
| One method I used to good advantage was to take several debts and consolidate. The accumulated interest payment on the group was three times waht I had to pay after the consolidation. Of course, it will last longer, but I can afford to eat a couple of times a day. Cheers |
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