For some, it has been managable. Sadly, for an increasing number of people, it has resulted in an inability to pay their debts. This site is here to help people understand what debt is, how it can be managed and what to do if you find yourself in problems regarding debt or credit status.

The average family carries a balance of between $7,000 and $10,000 on all their credit cards. Over $1,000 per family goes on interest every year. And that’s just the average – some people owe much more!

Overall, Americans spend over $1 trillion every year on their credit cards, and owe more than $500 billion of it. If debt continues at the current rate, then one family in a hundred will be forced into bankruptcy. Over 90% of Americans’ disposable incomes are spent paying back debts.

When you add credit card debt to the regular bills we have to pay each month, which can tax anyone’s budget. As a result, some bills go unpaid and others are paid late.

Both of these instances can damage your credit sometimes so much that you think there’s no way you’ll ever be able to get out of debt and get credit for something important like a home or a car.

The truth is that you can get out of debt and repair your credit nearly to what it was before you had credit problems. It takes some time and a little work on your part, but it IS possible.

Loan approvals and such depend on your credit score. That number is what determines if you can get credit, what your interest rate will be, and how much money potential lenders will give you. A good median score is 750, but the higher your score is, the more financially sound you are.
While it’s always a good idea to try and stay away from credit, not everyone has a hundred thousand dollars lying around to buy a home or twenty thousand to buy a car. Heck, for some people, scraping together five thousand dollars for a good used car is difficult. That’s why we need credit. So we can buy that which we cannot afford.

Where the trouble comes in is when people begin to buy everyday items such as groceries and clothing on credit cards. Then those bills begin to get bigger and bigger until pretty soon, they’re paying the minimum amount due which will take forever to pay off. Plus, a lot of people just continue charging things even when they have a large balance on their account.

Your credit score defines who you are to businesses and you want it to be as high as it can be. It doesn’t matter how bad your credit is now. There are ways that you can raise your credit score no matter how low it is now.

Why is it important to have a good credit?

With today’s society becoming more and more business oriented, establishing and maintaining good credit is vital if you plan to do any of the following:

1. Apply for employment
2. Rent an apartment
3. Open a bank account
4. Setup an account with public service or the telephone company

It used to be that establishing good credit was important only if you planned to buy a home or car, but not anymore. The simplest task, such as applying for employment could very much mean that you need a good credit.

Having bad credit could impede your ability to survive. This is sad to say, but it is a proven fact that people have been turned down top quality job positions just because of their credit rating despite the fact that that particular job could be exactly what a person needs to fix their credit. That’s a scary catch twenty-two don’t you think?

Ok, I’m caught in that scary catch twenty-two, what should I do?

Start by requesting a copy of your credit report in writing. You are entitled by Federal Law to receive a free annual credit report. There are three major credit-reporting agencies that you need to contact, you can run a search on the internet or find their information in a phone book. If you have already received a credit report for that year, you may also use any letter of credit denial by sending in a copy of that letter within 60 days of its receipt with your written request. Be sure to include a copy of your state issued ID, proof of your address and your last known addresses for the past 5 years. It is very important to include a copy of your social security card.

What does is mean to have good credit? Who cares who sees it?

Unbelievably, your credit report is public information to anybody where you are asking for a line of credit. Any time you apply for employment, an apartment, or attempt to make a big purchase, you are asking for credit and permitting the potential creditor to view your credit report. Although your credit report does not reveal a personality diagnose, it may just as well, considering it is through your credit report how others (potential creditors) will perceive what kind of person you are.

Businesses look into your credit report and determine by your ability to pay and follow through on your promises what kind of person you are.

This article was kindly supplied by http://www.mydebtandcreditguide.com

This was a Repossession Video we did recently. The persons who lived there had allready gone.

It took nearly 3 days to clear the property and gardens and then clean it all through afterwards. Thankfully they are not all this bad.

Well during my married life of 32 years I think I have been through just about every form of debt you could imagine and I would not wish my experiences on anyone. Apart from the daily stress it causes it also effects all aspects of daily life, Im lucky to have such a great supportive wife but at times our debts caused more rows than any thing else. But we got through it all and now live a relativly comfortable life.

So if I can sort myself out I am sure there is hope for anyone else out there in trouble.

During my married life my debt problems have included the following.

* Late payments and unable to pay loans

* Taking out another loan to pay other debts

* Many visits from bailiffs

* Frightened to answer the door

* Having an administrative order

* Have had many County Court Judgements

* Declared Bankrupt

* Finally ONE PHONE CALL AWAY FROM HAVING MY HOUSE REPOSSESSED

So as you can see I have probably been in your situation, I can relate to it and I know what it feels like. So I am speaking from experience. I dont profess to know all the answers but I will be trying to make my own small contribution to help people.

In nearly all the debt problems I had listed above, they could have been made a lot easier if I had sought help at an early stage, instead I would stick my head in the sand and think a solution would magically appear tomorrow. The problem was tomorrow always came and went but the solution never appeared.

So the first bit of advice I can give you to help Avoid Repossession is seek proffessional help at the earliest opportunity. Why not use the fear of losing your home as your motivation to act.

The most important thing you can do when facing Repossession is to TAKE SOME ACTION and/or SEEK HELP. If you do nothing you will almost certainly loose your home. TAKE ACTION and give yourself a real chance of keeping a roof over your head.

A unique part of this blog will be to give you an insight into the real side of Repossessions from my daily business. When you read what goes on it might spur you on to TAKE ACTION and avoid repossession.

My name is Mark and I have been a Repossession Contractor for about 10 years, put simply my job is to accompany the court bailiff  on the day of  a House Repossession,gain entry to the property if required then change all the locks and get the property ready for sale by an estate agent.

In future posts I will be going into that in a lot more detail and explain exactly what happens when your home is repossessed also what happens afterwards. There is so much that people dont know about the process of an eviction and I am continually amazed about how little people know or have been told about what is going to happen when they are evicted. I will be running a diary of my day to day happenings and hopefully be able to offer advice from other peoples experiences.

Over the years I have built up a great deal of knowledge of  how the repossession process works and I hope to offer some Real Debt Help to readers who often havn’t got a clue as to where they should start to get help I’m not saying that every repossession can be stopped but if you act quickly at the start and know what to do then you could be in with a real chance of saving your home.

Please do come back regularly and check out the new posts as I endevour to offer real Repossession Debt Help