Are you presently drowning in debt? Every time a new bill arrives in the mail, every time the telephone rings and you fear it’s one of those creditors, it just feels like the universe is conspiring against you!
Being financially pressured is no joke. The stress that it brings further aggravates your already pinned-down situation. It’s time that you take a breather. Know and understand your debt relief options so you don’t stay in the pit hole forever.
There are Ways to Settle Your Debt.
If you’re thinking of filing for bankruptcy, hold off that thought for a moment while you read the rest of this article. Debt settlement is possible.
While you may believe that filing for bankruptcy is the only way to free yourself from unsecured debt such as credit cards, personal loans, business loans, negligence claims and repossession deficiencies, consider first these negative effects when you succumb to this last, depressing resort:
Just as you should not mix your personal life with your professional life, don’t let business credit get in the way of your personal credit.
Your business credit should be totally independent from your personal credit. Your personal credit is yours alone to keep. It should not reflect the expenses and debts incurred by your business as these will negatively affect your personal credit score.
Some entrepreneurs do not realize the importance of having separate credit for business. Having separate business credit protects you from losing your personal assets should your business suffer a setback.
Fixing your credit and getting your financial situation back on track is never an impossible goal. By adding aged tradelines to your current credit file, you will swiftly rebuild your credit score and effectively improve your credit history.
An aged tradeline is another term for a seasoned line of credit. A tradeline is considered to be aged or seasoned if it has been opened for at least the last two years, and active since the time of its opening.
Your credit or FICO score is highly dependent on the number, length of history and status of your aged tradelines.