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All wild times must come to an end, and mine did when debt collectors started knocking at my door. The phone rang off the hook, letters arrived in the mail, it got pretty ugly. I knew that I had made some mistakes, but I didn't know how to fix them. I didn't make enough money at my job to pay off all that debt, at least not all at once, and I didn't even know where to start. After a few weeks of trying to hide out, I got really sick and tired. I called up a debt consolidation company and learned about their program which basically would add up all my debt, give me one monthly payment that would slowly pay it all off. I told the woman "maybe" and thought long and hard about it.
Then, I started making phone calls. I started with the oldest debts first, told them that I wanted to right my debt with their company, but that I was unable to pay the amount in full at that time. I asked if I could start making payments according to what I could afford. Lo and behold, they were just fine with that! I ended up being able to work out a payment plan on every balance that I owed. Now, I know this isn't alway possible, and that I'm really quite lucky in that I was able to have things work out as well as they did. Still, I know that in part, it was my willingness to actually come forward myself that helped me get to where I am today.
I am still in the process of building my credit back up. I know that in order to regain a good credit rating, I have to actually be using credit. I didn't have any credit cards left, so I had to get a new one. The bad credit credit card offers that were out there were not exactly the cards I was used to, but it some ways, I think that was a very healthy thing. There was a low limit, so I couldn't spend very much in the first place, and even if that hadn't been the case, I think the high interest rates would have kept my spending in check. As of today, all of my past debts are forgiven, and I am slowly working my way back up the ladder, a much smarter and more cautious spender than I was before.
Article Source: http://www.articlemotron.com
Having good credit means more than having the ability to get cash back credit cards and enjoy all the benefits that come with high level credit scores. It also you means your ability to finance your life.
Written by Kacy Suther. Browse through balance transfer credit cards, cash back credit cards, low interest credit card offers. Dozens of bad credit credit card offers available at CustomerCreditCards.com .
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