Do you need to repair your credit NOW but feel like you are running out of options…..fast??!!
Maybe you feel like you’ve “tried everything” but your debt just isn’t going away?
Fear not, just because the solution hasn’t been easy to find, doesn’t mean it’s not there.
Despite a poor credit score, there are many lenders that will offer you consolidation loans, however this usually comes at a price.
Make sure you’re armed with as much information as possible before you sign on the dotted line and always start your search with the cheapest options first!
Lets start with looking at WHY your credit is bad. There could be many reasons for this and our next step will depend on your biggest WHY.
One of the simplest reasons could be the wrong information on your credit score. I know we all assume that big brother knows everything about us but the wires can often get crossed and it can make us look really bad to potential lenders.
First step is to check the information that ALL THREE credit bureaus hold about you and the people that you are financially connected to.
The main thing here is not to panic, it won’t help the situation and it certainly won’t help you plan your way out of it either, so find a way to settle your mind and get yourself organized.
This might seam like an inconsequential step but it really isn’t. Sitting down to really look at your debt situation can be a traumatic experience for many people and you need to prepare yourself mentally, just as an athelete prepares physically for a marathon.
Check out the 7 simple steps to debt freedom and make yourself an exit plan. This will be individual to you but will probably involve at least some of the steps in our detailed action plan. It will hopefully help you to get a few quick money saving wins and arm you with a really good idea about the extent of your debt and budget contraints.
If you’ve done all this an realise that you do need a consolidation loan, debt relief order or remortgage, then that’s OK, at least you are sure that you didn’t miss a trick along the way.
So, If you do feel like you’ve been through all the normal channels, or you just can’t focus on anything else and you all you really need is to get a new line of credit so that you can breathe again, then look at your consolidation options and the following list of specialist companies that can provide loans and credit cards even if you have a poor credit record.
Don’t forget to check out debt charities in your area and if you feel like the stress of all this is just too much, get some support. Spending for many of us can be an addiction; a habit that we use to fill an emotional need. Being practical about your debt is one thing but being pragmatic about how you can stay debt free and happy may be a slightly longer journey.
Wishing you all the best in financial health!
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