| Overview More on credit reporting Reestablishing credit Credit repair tips and tricks | Credit can come in several forms, but in essence is the taking out of a loan for current spending that will be paid back with interest later. Simple concept, but the execution of the second part of the equation (paying back the money) is where people sometimes trip up. The severity of the penalties for failing to repay credit debts range from damaging to your health to damaging to your future credibility (bankruptcy or creditworthiness), to merely temporarily damaging your wallet and ego. In all cases, it is an experience to be avoided! We stress repeatedly the importance of checking your credit report to make sure that it does not contain false information or list credit accounts you thought were closed. |
