Posted on
November 26, 2009
at
11:55 pm
how can i take care of bad credit.. credit card consolidation they say will help me but i am not 100% aware of how it works. please enlighten me
Posted on
November 27, 2009
at
1:20 am
On bad credit and credit card consolidation:The latter helps in the former through allowing you to make smaller payments that you are able to afford. In credit counseling debt management plans, for example, you will be making one consolidated payment to your credit counselor, and they in turn will distribute smaller payments to your creditors at a specific time period.
Posted on
November 27, 2009
at
1:41 am
Your credit will not improve overnight, that's for sure. Little by little as you're making payments, your credit will improve for sure. Some DMP's allow your account to reach "current" status--but you have to verify the information with both your creditor and credit counselor to be sure.
Posted on
November 27, 2009
at
2:36 am
what else are the other ways to improve bad credit thru credit card consolidation?
Posted on
February 5, 2010
at
5:45 am
To understand how credit card consolidation can improve one's bad credit - here's a breakdown of the FICO score:
-35% Payment History- 30% Amount Owed-15% Length of Credit History-10% New Credit-10% Types of Credit Used
* once you get rid of the debt, the bolded segments improve.
Posted on
February 5, 2010
at
5:48 am
And if you're wondering what types of credit card consolidation programs are available for you,there's credit counseling (Debt Management Plan) - it deals with interest rates & then there'sdebt settlement which deals with your balance. A successful graduation from either, wouldimprove ur bad credit.
