subject: Modify Credit Advantage Non Profit Debt Consolidation [print this page] Saving your credit from going the foreclosure or bankruptcy way maybe a last ditch effort. Declaring bankruptcy mars your credit for ten years and if you cant imagine a life without available credit better to forget it altogether. The right road to take is the way of the non profit debt consolidation companies. Management of your payments and creditor relations will not only start improving your credit score but will also put you on the right track to become debt-free.
Companies like ACreditConsultant among Americas best experts employing debt consolidation companies are committed to help you become debt free. Their customized consumer debt consolidation programs include credit card debt consolidation, debt management plan, debt settlement programs and many more options out of which one is sure to work for you.
The Board of Governors of the Federal Reserve System recommends the following tips to improve your credit score:
Federal law permits you to get a free copy of your report every twelve months from the three national credit reporting companies. Get your copy and make sure it is fully correct.
The only way to improve your credit score is to make your monthly payments by the due date. Set upautomatic payments thru banks and make sure there is enough money in your account.
Understanding how your credit score is determined will solve 50% of the problem.
Defaults, accounts referred to collection agencies, foreclosures, bankruptcies show up negatively on your report history.
The ratio of the amount you owe to the credit limit becomes bad if it is high.
A long credit history is better than a short one because it shows your spending and repayment habits.
Recent applications for new credits will affect badly.
A mix of installment loans and credit cards may work to your advantage but multiple credit cards and more than necessary financial institution accounts might well be hurting your credit score.
Research and find out ways and means to building a better credit report thru legal steps. Correcting errors in your report, resolving debt and skirting scam companies etc. need legal expertise.
Sometimes you may get burnt by credit-repair scam companies taking you for a ride. While doing it yourself is the best way to go, attending free non profit debt consolidation counseling sessions can tide you over by getting a non profit debt consolidation loan.
