Credit Repair and Debt Consolidation

As I begin writing today's blog, I flip over to see what the headline is on THE DRUDGE REPORT. It reads, "Citi Eats Wachovia". The article goes on to describe just another story of what we are all hearing in the news daily: "bad loans", "the mortgage crisis", "the housing crisis", etc.. And as I write this blog, and reread DUDGE, the headline changes to "DOW DROPS MORE THAN 500." and then, "HOUSE DEFEATS $700 BILLION BAILOUT" . None of these headlines are surprising, and I don't think unexpected. As I drove around in the car on several occasions today, I heard KYW/1060 reporting the response to a survey asking people if we are in a depression or not. Technically, we are not, however, many more people surveyed thought we were than thought so six months ago.

I cannot help but wonder if it is because of the headlines everyone is hearing or if it is due to personal difficulties that people think we are in a depression. I am sure sales are down everywhere, but I drive by Target, Walmart, The Home Depot and Ikea, and I see the parking lots are jammed, and people are coming out with packages. I am reflecting on what is directly around me, and don't know if I would see the same thing if I were in another part of the country or even another part of the Commonwealth of Pennsylvania for that matter.

In the news, we keep hearing stories about people in trouble, people who cannot pay their mortgages, and people with credit problems who cannot manage to get themselves into a mortgage. I have met a few, as I have said before, and if you are someone with some credit difficulties, you may find the rest of the blog and links helpful.

In previous blogs, I mentioned non-profit credit counselors. The reason I favor and focus on these groups is a simple one: they are not offering their services for profit. Are all of them the same? I am sure they are not. Are some of them better at helping you? I am sure they are. Thus, if you try one and don't seem to be getting anywhere, try another one. Just write off the first experience as a learning experience and find the group, which can help you get your credit issues resolved.

I see them advertised everywhere. They are the for profit credit repair companies or debt consolidation companies. I am not saying that none of them provide a service, which is valuable, but be wary when giving them or anyone your hard earned money for such a service. After all, it is because of a shortage of money that you are having a problem. Educate yourself ahead of time about what they can and cannot do in providing services to you. Some of them, in their advertising do promise to do things they absolutely cannot do. I came across a good link today, which may give you some insight into the facts before you begin to use one of these services. See Credit Repair Facts - Common Scams.

Now, before using either a non-profit or for profit credit counselor. What can you do yourself? See Steps to Fix Your Credit. Here you are provided with the steps to take, and things to look for in improving your credit situation. You can do all of these things yourself. It will cost you time and effort. At the link, there is a tab, where they also provide a link to sample letters to use in the process of fixing your credit.