In your excitement to buy your dream car, you are tempted to avail of the “Guaranteed Credit Approval” program offered by the dealership but wait again, have you ever considered the role of your credit score  restoration in the transaction you are about to enter into?

If you credit score is considered subpar, you may be compromising even higher interest rates just to get a “guaranteed credit approval.” Financial experts will all agree that in the long term, it is always the purchaser who will suffer the consequences of spending a lot more than the value of the vehicle bought.

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Many people strive to get out of debt fast. It isn’t just about the amount of debt you have. In order to deal with your debt effectively, it helps if you understand the different types of debt. It isn’t complicated to learn as it’s just a simple task of differentiating the “good” from the “bad.”

Personal debt, also known as “bad debt,” is often the result of poor budgeting skills and lack of financial control. Getting a loan for items that will likely depreciate in value over time causes one to get caught in a web of “bad debt.” Borrowing money for a new car, furniture, gadgets, clothes, vacation and dining out are among the biggest culprits. These things offer short-term satisfaction and long-term suffering.

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Identity Theft is a serious criminal offense and you could be the next victim.

An identity thief uses someone else’s personal information to commit fraudulent activities. Your name, bank account numbers, health insurance and Social Security number are just some of the information at risk of being stolen.

Many victims have faced the grave repercussions of the crime. Some have caused them their jobs, been declined of loans and their credit and reputation severely damaged.

According to a recent identity theft study conducted by the Javelin Strategy & Research Center:

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It’s all over the news. In an effort to revive the weakened engines of many small businesses, primarily due to the recent recession and unusually tight credit standards imposed by banks and lenders, the US government makes way for a new proposal that will hopefully help small businesses to get back in shape, thus, be able to hire workers again.

Unemployment is still at its highest levels and this is one major factor why President Obama laid out his plan to give up to $5000 in tax credits to companies for every new employee they hire this year. Little or no access to credit at all was seen as the culprit why there is a major barrier in hiring.

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Why should you startup a business from scratch when you can save time and gain access to credit easier with a shelf corporation?

Starting up a business from scratch entails a lot of details, details, details! These details require a lot of time in terms of development and research, which in turn call for big expenses. A startup company, because of its very “young” age, has a limited operating history that makes access to credit and investment capital difficult and opportunities to bid on contracts slim.

Why then as a business owner should you opt for a startup when you can buy a shelf corporation that already has everything you need to immediately start operating?

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Dun and Bradstreet has always been at the forefront in providing commercial information on businesses, thus, becoming one of the world’s most popular and trusted credit reporting agencies.

D&B’s primary job is to provide an in-depth and thorough evaluation of a company’s financial stability. It comprises necessary scoring, payment and financial information based on company size, real properties owned and financial net worth, allowing businesses to review a completely assessed credit profile that will help them arrive at a decision.

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Earl Carruthers of Graceful Credit Solutions on Dave Ramsey’s Credit Concepts

Dave Ramsey is a fellow brother in Christ and I adhere to his financial teachings over 90% of the time. I know I’m not in a position to judge a man’s heart but I believe Dave is sincere towards his mission to serve others and lead them to live a debt free life, however, I beg to disagree with Dave’s theory on the unimportance of a credit worthiness.

I cannot emphasize enough the value of having an above average credit score, most especially when applying for a mortgage, auto loan, working capital or even employment.

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In a time when the whole world is experiencing a recession, it is important to maintain a good credit standing. The better your credit standing is, the higher the chance that you will be approved when applying for a loan since most lending and credit companies are tightening their lending guidelines.

Easier said than done! As not all of us maintain a good credit standing, in one way or another, you may have failed to comply with the your credit card agreement which results in hurting and damaging your credit standing. These damages may result in denial of a mortgage, car loans or even credit cards. So, we cannot blame the lender nor question their decisions as they are only trying to protect their own interest.

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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.

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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:

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There's no such thing as an "overnight credit repair". That said no one works faster the GCS. On average, our clients start to see results in as little as 30 days.

Put your credit score on the fast track to recovery. Call Ryan Carruthers at GCS to get started.