Dealing with Credit Report Nightmares

Credit report nightmares are something everyone dreads. When it comes to debts that we can’t repay, many times it’s due to misfortune – we get sick or injured, and even though we have health insurance, the resulting medical bills we have to pay out of pocket are so inconceivably huge that there’s no way we can do it.

Other times, credit report nightmares are the result of living way beyond our means, spending money we never had, but which credit cards made us think we had. The bottom line is, when you run up bills, they come due. That’s just the nature of the beast we call reality. And if the bill comes due and you can’t pay it, then you’ve got some seriously difficult problems on your hands.

That’s the bad news. The good news is that you’re not without options for getting out of your financial predicament.

The Best Tools are Credit Reports

Credit reports are where people see their financial history laid out before them. They catalog it all, from missed payments to debts we simply had to walk away from because we couldn’t pay them. If you’ve got bad credit as a result of mistakes, errors, misfortunes, or what-have-you, you could be faced with some tough times.

People looking for a mortgage loan could be refused, and have to live somewhere they don’t want. Or you might need a car loan – even for a used car – but your bad credit means you’re denied. If you can’t get to work you’re going to get fired, and if you’re fired your cash flow just got shut off. You’re unemployed, broke, miserable, and have no money to pay your rent. For many people, the stress and fear of that scenario qualify as nightmarish.

Waking up from a credit report nightmare can be done with professional help.

Debt counselors and organizations know how bad things can get, and are there to help people with bad credit and financial problems get back on their feet. It takes time, but there are countless stories out there of people who’ve come back from the brink of total financial ruin to prove that it is entirely doable.

Get your free credit report here.