Category Archives: Just FYI

A Second Chance to those with Bad Credit

Everybody deserves a second chance in life – including those with “bad credit” standing. Especially now that there are a lot of people from all sectors of society that experience this kind of dilemma, there has to be some help provided.

My dad for one has had an encounter with a credit card company. He ended having bad credit credit cards. His shortcoming taken into consideration, there was little we could do since there wasn’t an obvious credit help provider for consumers at that time.

America is a nation with a high level of consumption. Consequently, its people resort to availing credit services from various providers. Unfortunately, due to a lack of information available, or accessibility to a free consumer resource for credit handling, some fall into the trap of bad credit loans.

To show some basic research statistics on American credit standing in 2006, check out the list:

• On the average, there are 3 out of five American families who cannot afford to pay their credit cards each month.

• Once the basic necessities are paid off, Americans slash about 90 percent of their money for paying debts.

• Excluding mortgages, the United States has a consumer debt of $7, 100 per person.

• $10, 000 is the average household credit card balance in America today.

• Today, the United States hold $1.7 trillion of total consumer credit.

• Based on the consumer debt statistics, on the average, four out of ten people do not pay their credit card providers on time.

Given these statistics, there is a clear need for an available and accessible (and hopefully free) resource for consumers with none, or have bad credit standing, alike, to consult to. It is advisable that people check on comparison websites that show how they can avail of the safest loans, and which credit offers they can get to aid them from a bad credit standing. It is good to have a consolidated report of various offers like credit cards, home loans, auto loans, personal loans, and other types of loans that can be suitable to your financial standing.

They say, “Little knowledge is dangerous.” The same goes with credit handling and financial management. If you find yourself in bad credit standing now, it’s better to seek help to find the best credit offer to be given that second chance today.

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