Repair Your Own Credit with AI Fire the Repairman.

Now about that debt!!! Now that you've armed yourself with some information and acknowledged that you've gotten yourself into a money mess let's get you armed and ready for battle to conquer your debt and fix your credit. Step 1) Look at your credit score and see where you are getting marks against your score. If you want to dispute any errors then write a short letter of explanation to the 3 credit bureaus citing the error. If there is a legitimate error it will be removed from your credit report. Let's start with the credit cards. Write down each debt you owe on credit cards. Total all the debt. Now add on any loan debt with the exception of car and mortgage. This is to determine all debt that I would consider unnecessary debt. Step 1) Lock up all credit cards and don't touch them or carry them. Do what you can to get extra money. Sell stuff, cut out all entertainment spending and no buying unnecessary items, vacations, eating out etc... Get a second job if need be. Cut the grocery budget, Netflix, anything unnecessary. These are consequences that will help you in the future to not repeat your mistake. Step 3) Make as large a payment as you can on the card with the smallest balance owed. Leave enough to make a minimum payment. When you get that card paid off that has the lowest balance then apply what you were paying towards that card to the next smallest balance making even larger payments. Continue this process until all your cards are paid off. Step 4) Take all the money you used to pay towards your credit cards and make huge payments on that loan and get that debt out of the way. Now you can breath again. Now you've learned a valuable lesson that will remind you not to repeat the same error. Now you can feel good about yourself and your huge accomplishment!!! Had I not made money mistakes in my past I would not be sharing this information with you now. We all make mistakes in life and most have made money mistakes. Most of us learn from mistakes! Good Luck!

To begin the process of paying off debt there are two two things that are important to acknowledge first; 1) You created the debt. 2) Understand how credit works. Whether you created the debt because of using your card for emergencies or your spending just got out of control it is still your debt and you created it and you are the one signing the contracts to pay and acknowledged the interest rates. Once you fully get real with yourself then acknowledge that, the consequences will help you to learn to not repeat this error. In the future instead of paying off credit cards use that money to save up an emergency fund that you don't touch. The first thing to understand about credit is in an assessment I'm going to give you. (Assignment) Look at your contracts on all loans and credit cards and write down the interest rates for each one. Some credit cards will show you on the statements how much interest you paid that month. You will find this amount shocking to say the least. Realize that these rates are created to keep you in debt forever. It can take you ten years to pay off a small amount of debt if you make only the minimum payment. Always put as much as you can towards the monthly payment. Understand the 30 percent rule. Never run a credit card past 30 percent of the maximum balance granted you on the card. It will immediately drop your credit score. Then another rule is related to your total credit of all your cards combined.If you are past 30 percent of your combined credit you will take an even harder hit on your credit score. Look at and study how all credit works. Use AI, read Dave Ramsey....there are many resources available so educate yourself on all things money. Read about loans, mortgage loans, auto loans and everything you can get your hands on to arm yourself with information that will help you learn to play the dept game well and watch your credit scores like it's the stock market. Challenge yourself to get your score into the 800's. One last post..