Now is the time to start to fix credit problems to position yourself for the future.  The global recession, unfortunately, has touched almost every American consumer and business in a negative way.  Perhaps you have felt the effects personally, having lost your job, having your employer go out of business or possibly reducing your hours or wages.

The result of these events can be devastating.  You may have started by cutting back on going out to eat and reducing other expenses as much as possible.  But as time goes on, there simply is no more to cut back on and there just isn’t enough money to satisfy all of your obligations.  At this point you start to juggle the bills, missing the electric bill this month hoping to pay it next month, while you pay your auto loan this month and skipping it next month.  All the while trying to pay your mortgage, but little by little things slip away.  One month turns into three and finally there is just no way to do it all.  Then things really take a turn for the worse and the repo man shows up, and your house gets foreclosed on.  Unfortunately, this is the story of too many hard working individuals who are trying to do the best that they can.  The problem is that these unfortunate problems will haunt you through your credit report and credit score for years to come unless you take action and start to fix credit problems now with an eye to the future.

So what are some of the things that you can do to start to fix credit

problems now?

1)    Don’t be an ostrich!

You need to understand your current financial situation and where you stand before you can develop a plan to fix credit problems for the future.  First, review your credit reports from the three major bureaus, Equifax, Experian and TransUnion.  Know what you owe, who you paid late, who charged-off your account and all the other derogatory information.  With this knowledge comes power.

2)    Know your objectives.

Once you know your current situation, you can develop a plan to fix credit problems in the priorities that make sense.  For example, if your house has been foreclosed, the immediate concern is where do you live.  Sure staying with relatives or friends is a good temporary solution, but long term you need to have a plan.  Perhaps that plan involves renting an apartment.  So now you know to prioritize what items you need to work on first to fix credit problems to rent an apartment.  Generally, when renting an apartment the landlord or management company is not looking for perfect credit, only good credit in certain areas, i.e. utilities, past apartments, etc. and does not place as much weight on negative credit due to medical issues etc.  The same logic should be used based on each of your objectives, buying an auto, or new home, or whatever your goal may be.  With this type of objective based logic, determining the order to fix credit problems is made easier.

3)    Take Action.

Now that you know where you are and where you want to go, it’s time to take action to fix credit problems. One of the primary things you should begin with is by reviewing your credit report and fix credit problems as they appear on there.  There are multiple Federal Laws that give you the right to fix credit problems on your credit report, and you should take advantage of every right and loophole within those laws.  By understanding these laws and working diligently to enforce your rights you will soon find yourself in a better position to accomplish your objectives.

For more information on how the Attorney’s and Professional Advocate’s of can help you fix credit problems and reach your objectives, click here.