What is debt management?
As a modern consumer, you need credit.
With greater credit needs!
Comes greater need for debt management!
Good Debt Management
This ensures that you will have credit when you need it.
Make wise borrowing decisions.
You can ensure that loans are available when needed.
Establishing and maintaining a positive credit record.
Establishing Credit
Establish a credit record, if you want to have ready access to loans when you need them.
Take advantage of special credit deals.
Establish that first credit relationship, increasing lender confidence.
There are types of credit, insured credit, guaranteed credit, secured credit.
Borrowing Options
Shopping for credit as a borrower, and knowing what borrowing options are available to you?
You can use.
Home equity loan
Line of credit
Some loans carry lower interest rates, some have tax-deductible interest, some subsidized by government entities and other have special repayment terms, its designed to serve the needs of a special class of borrower.
Credit Reports
First step, maintaining a good credit record, by paying your obligated debt as agreed.
Obtain copies of your credit reports from various national credit reporting agencies.
Review, often interpret the information, determined whether error have been made. If problems, report it. You have rights that you can exercise for corrections. By forcing agency to investigate errors, either correct, confirm or delete, it usually takes 30days.
Repairing poor credit
Adding good credit to your report is helpful.
You can go back to old creditors that reported bad information and negotiate a deal in which you agree to pay off the account.
Only if the lender upgrades your credit status.
Reducing the cost of debt
There are several ways to reduce the cost of debt
Refinance loans to get lower rates
Use the equity in your home to pay off higher interest loans and credit balances
Transfer your credit card balances to cards with lower rates
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable—we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
Take advantage of special credit deals
Establish that first credit relationship, increasing lender confidence.
There are three types of credit, Insured credit, Guaranteed credit, Secure credit record, if you want to have ready access to loans when you need them.
Take advantage of special credit deals
Establish that first credit relationship, increasing lender confidence.
There are three types of credit, Insured credit, Guaranteed credit, Secure credit
Establishing Credit
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