Did you get tons of emails regarding debt settlement? Screwed up on a secured card from your bank with some late payments? Received unsettled number of calls from debt collection agencies? These are just some of the things you will experience if you are having a bad credit.
Nowadays, people will have and will continue to get credit to fulfill their wants and needs in life. Its one way to easily get your dream cars, dream vacations, dream house and many others. But the problem there, can you afford to pay in return what you have credited? Is your salary or income enough to pay your credit card bills or monthly mortgage payments? If not, then control and limit in taking out credits because if you don't, bad credit will enter. Bad credit is a big red flag! It will limit your lifestyle in several ways and it is costly in the first place.
That is why, if you experience bad credit, you will really need credit repair services to polish up or repair your credit. Credit repair can be done with your own. People just need to read and comprehend their credit reports and nurture themselves so that they will not be abused by those people who claim that they can help you with your credit.
isp101 | On: February 9, 2011 at 6:19 PM
Hi, jhiegzh! Let me tell you a story, 7years ago, when I was still working in Makati as a Sales Engineer, when I got my very first AMEX Credit Card! My credit limit was just P15K, and I believe I just spent all of the credit limits in different restaurants. I resigned after few months, since I can't reach the sales quota. I opened up a small Canteen business, and after working very hard for 6months, with my fiancee to keep the business. We got bankrupted, and decided to just find a different source of income. To cut the long story short, I wasn't able to pay my credit card debt for almost 2 years, at that time, I was still unemployed. When the debt collectors finally got hold of me, luckily, I already got hired in a Call Center. I finally settled with them, and payed them around P32K, including the interest and bank charges, twice the money I owe them. Too late when I realized what I've done. I guess, IT IS BEST TO SPEND YOUR CREDIT LIMIT WISELY, DON'T GET WHAT YOU CAN'T AFFORD AND PAY IMMEDIATELY. Cyahhh around!
Jhiegzh | On: February 9, 2011 at 11:32 PM
@IsP101: Maybe the best thing is just to buy things you can afford, I mean buy them in cash not in credit! ^^