Debt Relief - Revision history

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2021-08-02T21:46:02Z

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	* [[Debt Relief:Bibliography \| Bibliography, Resources, and Further Readings]]		* [[Debt Relief:Bibliography \| Bibliography, Resources, and Further Readings]]

			[[Category:New Media]]

Glucas: /* Actions You Can Take to Improve Your Score */

2004-12-15T17:47:38Z

Actions You Can Take to Improve Your Score

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	For those who need assistance managing their credit there are a variety of choices and options available. In an article by Hispanic magazine, financial author Julie Stav explains what a [[Debt Relief:Bibliography#Self Help \| FICO]] score is, how credit bureaus calculate it, and ways to improve your score. An article by U.S. News and World Report states the following steps to keep the score manageable:		For those who need assistance managing their credit there are a variety of choices and options available. In an article by Hispanic magazine, financial author Julie Stav explains what a [[Debt Relief:Bibliography#Self Help \| FICO]] score is, how credit bureaus calculate it, and ways to improve your score. An article by U.S. News and World Report states the following steps to keep the score manageable:

	1) Pay bills on time.		# Pay bills on time.
			# Pay down debt.
	2) Pay down debt.		# Maintain long-term credit relationships.
			# Do not apply for too many loans.
	3) Maintain long-term credit relationships.

	4) Do not apply for too many loans.

	A great self-help guide to consider is Repair Your Own Credit which instructs debtors in how to repair and reestablish credit. It also lists organizations that will give free or low cost assistance in helping one stay out of debt. NEA Today, refers to credit management agencies such as Equifax and warns people about credit repair clinic rip-offs. These agencies do not do anything that you cannot do yourself. The counselors at Credit Union Magazine suggest that bankruptcy be the last resort in debt relief.		A great self-help guide to consider is Repair Your Own Credit which instructs debtors in how to repair and reestablish credit. It also lists organizations that will give free or low cost assistance in helping one stay out of debt. NEA Today, refers to credit management agencies such as Equifax and warns people about credit repair clinic rip-offs. These agencies do not do anything that you cannot do yourself. The counselors at Credit Union Magazine suggest that bankruptcy be the last resort in debt relief.

Glucas: /* Debt Management */

2004-12-15T17:41:08Z

Debt Management

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	The steps most of these agencies take to help debtors eliminate debt are:		The steps most of these agencies take to help debtors eliminate debt are:

	1) Help debtors to assess their debt situation.		# Help debtors to assess their debt situation.
			# Offer debt counseling, such as, how to avoid overspending and advise in handling existing debts.
	2) Offer debt counseling, such as, how to avoid overspending and advise in handling existing debts.		# Help the client to build and maintain good credit.

	3) Help the client to build and maintain good credit.

	Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.		Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.

Amysolen: /* Debt Management */

2004-12-14T19:40:35Z

Debt Management

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	1) Help debtors to assess their debt situation.		1) Help debtors to assess their debt situation.

	2) ~~Give~~ debt counseling, such as, ~~avoiding~~ overspending and advise in handling existing debts.		2) Offer debt counseling, such as, how to avoid overspending and advise in handling existing debts.

	3) Help the client to build and maintain good credit.		3) Help the client to build and maintain good credit.

Amysolen: /* Actions You Can Take to Improve Your Score */

2004-12-14T19:39:54Z

Actions You Can Take to Improve Your Score

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	*Apply for a [[Debt Relief:Definitions#secured card \| secured card]] or deposit money in a checking account.		*Apply for a [[Debt Relief:Definitions#secured card \| secured card]] or deposit money in a checking account.
	*Apply for a department store or gasoline credit card and build small balances, '''but pay them off in full each month'''.		*Apply for a department store or gasoline credit card and build small balances, '''but pay them off in full each month'''.
	*Do not use credit cards to purchase food. The amount in interest is nearly 10 times more than what one meal would have cost if ~~you had paid~~ cash.		*Do not use credit cards to purchase food. The amount in interest is nearly 10 times more than what one meal would have cost if cash was used instead of a credit card.
	*If possible, consider transferring the balance of a credit card to a lower interest rate card. If you do this, immediately destroy the card with the high rate and close the account.		*If possible, consider transferring the balance of a credit card to a lower interest rate card. If you do this, immediately destroy the card with the high rate and close the account.
	Over time, your credit score will improve, and you will qualify for [[Debt Relief:Definitions#unsecured credit card\| unsecured credit]] cards on your own.		Over time, your credit score will improve, and you will qualify for [[Debt Relief:Definitions#unsecured credit card\| unsecured credit]] cards on your own.

Amysolen: /* Managing Of Credit */

2004-12-14T19:36:54Z

Managing Of Credit

← Older revision		Revision as of 15:36, 14 December 2004
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	Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.		Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.

	==~~Managing Of~~ Credit==		==Credit Management==
	The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.		The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.

Amysolen: /* Managing Your Credit */

2004-12-14T19:36:34Z

Managing Your Credit

← Older revision		Revision as of 15:36, 14 December 2004
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	Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.		Most financial advisors agree that the most important step a person must take before seeking counsel is to change their money management skills. The debtor must change the way he/she thinks. They must rid themselves of all financial anxieties or debt will probably accumulate again.

	==Managing ~~Your~~ Credit==		==Managing Of Credit==
	The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.		The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.

Amysolen: /* Debt Management */

2004-12-14T19:36:07Z

Debt Management

← Older revision		Revision as of 15:36, 14 December 2004
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	An [[Debt Relief: Interview#Interview \| Interview]] conducted with a local agency on the issue of debt management summed up some important points for anyone seeking help managing their credit. Here is a summary of the information gathered up from the meeting:		An [[Debt Relief: Interview#Interview \| Interview]] conducted with a local agency on the issue of debt management summed up some important points for anyone seeking help managing their credit. Here is a summary of the information gathered up from the meeting:

	Credit counseling and debt management agencies offer professional help to individuals in need of assistance in paying off their debts. These agencies look at the client's bills, listen to their needs, make recommendations, and create budgets. Although these companies have received bad press in the past, [[Debt Relief:Bibliography#Self Help \| researching]] before selecting ~~a company~~ can ~~assure you of their safety~~. ~~In your search make~~ sure ~~your choice~~ is ~~accredited~~ with an ~~institution~~, such as the [[Debt Relief:Bibliography#Bibliography \| Better Business Bureau]]. Also a debtor must make sure to look at state laws, so that he/she is not overcharged for financial help.		Credit counseling and debt management agencies offer professional help to individuals in need of assistance in paying off their debts. These agencies look at the client's bills, listen to their needs, make recommendations, and create budgets. Although these companies have received bad press in the past, [[Debt Relief:Bibliography#Self Help \| researching]] a company before selecting an organization can relieve anxiety about the organization. Make sure the organization is affiliated with an accredited organization, such as the [[Debt Relief:Bibliography#Bibliography \| Better Business Bureau]]. Also a debtor must make sure to look at state laws, so that he/she is not overcharged for financial help.

	The steps most of these agencies take to help debtors eliminate debt are:		The steps most of these agencies take to help debtors eliminate debt are:

Amysolen: /* Actions You Can Take to Improve your Score */

2004-12-14T19:32:10Z

Actions You Can Take to Improve your Score

← Older revision		Revision as of 15:32, 14 December 2004
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	The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.		The most difficult thing to grasp when dealing with management of credit is understanding how one obtains credit in the first place. Usually a creditor follows a checks and balance system of determining if someone has the ability to obtain credit. Specific criteria must then be met in order to obtain credit. Creditors will then solicit a credit history from credit reporting agency such as [[Debt Relief:Bibliography#Experian \| Experian]], [[Debt Relief:Bibliography#Trans Union \| Trans Union]], and [[Debt Relief:Bibliography#Equifax \| Equifax]]. A number is assigned based on past history or whether or not there is a history at all. That number is called a [[Debt Relief:Definitions#Beacon or credit score \|Beacon or credit score]]. If the score is low, then one is considered "high risk" and chances are the request for credit will be denied. The higher the credit score, the more likely one would receive approval. While it may be great to increase the amount of credit to increase the score, each time an applicant applies for credit, the score drops.

	===Actions You Can Take to Improve ~~your~~ Score===		===Actions You Can Take to Improve Your Score===

	*Apply for a [[Debt Relief:Definitions#secured card \| secured card]] or deposit money in a checking account.		*Apply for a [[Debt Relief:Definitions#secured card \| secured card]] or deposit money in a checking account.

Amysolen: /* Documents */

2004-12-14T19:31:39Z

Documents

← Older revision		Revision as of 15:31, 14 December 2004
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	== Documents ==		== Documents ==

	* [[Professional Communication]]
	* [[Definitions and Common Terms]]		* [[Definitions and Common Terms]]