Find Solutions to Help You Get Out of Debt and Avoid Bankruptcy

Once You're Debt Free

Once your debt has been eliminated, it's time to build new spending and credit habits to protect yourself from falling into the same problems as you had before.

There are several ways to save money on every day things, and some very good resources to teach you how to do it. Learn from the blogs of veteran smart spenders, such as the SaveMoneyMomma.com Blog, who routinely gets necessities for free or better than free.

You should also rebuild your credit and establish new credit. While being debt free is great, having no credit history isn't. There are several resources and services available to help you repair your damaged credit and can give you advice on rebuilding or opening new accounts. Below are some basic tips you can use to re-establish and repair your credit.

Actively Remove Inaccurate and Negative marks from your credit report. You can use a firm like Lexington Law or Ovation Credit if you are short on time. You could also do it yourself with software like Credit-Aid 2009. This software program will give you the tools necessary to essentially automate the disputing process. Another option is using a good credit repair guide.

Establish new credit by getting a secured credit card or applying for credit accounts that are easier to get. Credit Unions are fairly forgiving to those with prior credit problems. You could also try getting a retail store card from a furniture store, Radio Shack, appliance stores, etc.

Keep any new accounts active and in good standing. Do not overuse them but I try to keep around $25 to $50 in activity each month. Pay each month and pay on time. It will take about a year of positive credit habits to be considered seriously for a loan.

Best of luck to you!

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