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I am back to blogging about credit issues and boy have some things handicapped what most Americans have gotten very used - easy access to credit! Back in 2007 and 2008, easy credit was everywhere. When I started Get GR8T Credit, not one person I knew had a credit problem! It was as if I invented something no one would ever need - credit help....my-my how things have changed!
When I the Credit Chaos bog, I knew it was just a matter of time before the credit availability would change and it changed literally overnight! My office has received a lot of calls from people not only in my local market, but in other markets as well.
Everyone wants to know - what's next? What happens if I cannot pay my mortgage, my car loan, my credit cards? Well, you just cannot pay them. If you are vasculating every day trying to stretch money that cannot cover those expenses, you will need to overhaul your spending, really look hard at your spending, examine where you can cut some costs and begin to re-build with a plan to use less credit until your situation changes.
The credit markets will recover in time, maybe not in 2012, but in time; it could very well take into 2014 for that happen, as so much is still at stake. U.S. Federal Reserve Chairman Ben Bernanke's has been continually called on the carpet for the credit mess and the stress that it has taken on working families, especially those that have lost jobs due to the market crash. Small business even will take a super hit because cash spending has been slowed to a crawl, those that do have have access to cash are not spending much of it due to concerns of money running out. So where does that leave you? Encouraged. You should not let what happened in the past affect your future. The world will sort out this mess on its own.
The credit markets will recover and while things still a bit of mess, take this time to re-structure your household spending, pay down or settle those credit card balances and boost those credit scores!
Need help? My office specializes in helping people get back on track with their credit, we provide credit correction, debt managment, bill pay and budget structuring services. All of these services are an amazing combination to recover from a poor credit file. Get a head start for 2012 and into 2013! Be a fan of your credit - Get
GR8T Credit! Don't let anyone or anything stop you from living the life you dream of.
Good credit is a privilege, use it wisely. If you are down in this market, give us shout, we just may have a solution to get you closer to your goals!
Will the Credit Markets Ever Truly Recover in 2012?
8:37 AM
Alexis P. Jones, The Credit DIVA
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3 comments:
It’s been a really long time since the recession set in since 2007. I lost my job during that year, and really struggled hard to find a decent job given my average IT skills. Having settled down in an administrative post for about a year, I had to suffer a pay cut due to the credit crisis. It’s quite a ludicrous scenario, having worked so hard for my job only to be rewarded with a pay cut and economic threats. I’ve been servicing my debts for a couple of years now, and I can only pray not to lose my job in the midst of this war.
It’s not going to be an easy problem to settle. I doubt the economy is going to recover even for the decade as the root causes can be traced by to 1982, let alone recover in 2012. The crisis is the result of the debts accumulated over 20 years.
We can blame the governments for their incompetency for all we can, the governments can blame us for over-splurging when times were good, but if we’re going to continue throwing the ball around and not take any proper action, the crisis is just going to carry on. If you work for monthly paychecks, it’s inevitable; you’ll be slapped by the crisis. And this is precisely the reason why entrepreneurship has been on the rise in the past 5 years. But being entrepreneurs do not guarantee a steady income. It’s wise to keep your current monthly job no matter how unwilling you are until your entrepreneur business really kicks off.
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