Category Archives: credit

5 Loans You Could Get if You Have a Bad Credit History

canstockphoto9959220When you get turned down for credit it can come as a major shock. If you’re already struggling with your repayments because of combined high interest rates and were banking on getting a new loan to reduce your monthly outgoings and stabilize things, it can feel like a disaster to be rejected.

But if you have got a bad credit history or a list of financial mistakes registered against you, getting credit from one of the traditional lenders is always going to be a struggle. The major banks and other financial institutions all have fairly strict criteria when it comes to lending money. And that means that most people with poor or simply impaired credit records are not going to be successful when applying to these institutions.

Thankfully, there are other options provided by a growing number of alternative lenders who specifically cater for people in this situation. While there are no guarantees that you’ll be successful when applying for one of these loans, there is a much higher likelihood of obtaining credit this way:

  1. Guarantor loans

Before the 1980’s and the rapid growth of credit scoring, it was fairly typical for a potential borrower to make an appointment to see their bank manager at the local branch. If they were new to borrowing or if they had not held an account at the bank for very long, the manager would often ask for some form of security before agreeing to issue a loan. That security would often be a third party – a guarantor – who would agree to making the loan repayments should the borrower get into difficulty or otherwise fail to keep up with the schedule.

Guarantor loans are a newer version of this age-old form of lending. They work because the lender uses the credit rating of a third party when making a decision on whether to issue a loan to an applicant. That third party becomes legally bound to the credit agreement and responsible for making repayments in the event that the borrower gets behind. The guarantor can be a friend, a family member or even somebody at work.

  1. Homeowner loans

If you own your own house either outright or with a mortgage, then you may be able to successfully apply for a homeowner loan. These come with lower rates of interest than unsecured loans and, very often, have much higher capital sums on offer. It all depends on how much equity you have in your property (the difference between a home’s value and the outstanding balance of the mortgage). When you successfully apply for a homeowner loan, the credit balance is secured against your house meaning that if you fall behind with repayments or default, the lender will be able to apply to a court to take possession of the home and sell it to cover the outstanding loan amount and any interest.

Homeowner loans are similar to mortgages with sums of up to £250,000 (sometimes more) available and very long repayment schedules which can stretch to 25 or even 30 years.

  1. Payday loans

While payday loans have had a bad press in recent years, new rules imposed by the Financial Conduct Authority mean that all lenders now have to adhere to strict limits on the amount of interest they can charge and the number of times they can allow a borrower to ‘roll over’ repayment of the loan to a subsequent month. The APRs advertised on payday loans can still appear to be very high but it’s worth remembering that these are short term loans and APRs are a representative annual rate. Most payday loans are just for a month or two meaning that you will only ever have to be a small fraction of the total amount that you borrowed. Payday loans are available for sums ranging from £100 up to £1,000 and are a safe option for those confident that they will be able to make the repayment comfortably on time. For example, somebody who borrows £200 at an APR of around 1,400%, will then will only repay £250 – meaning that the total interest will be 25%, not the APR advertised in the headline figure. 

  1. Sub prime personal loans

While the banks may not want to offer somebody with a poor credit rating an unsecured loan, there are plenty of other lenders who do exactly that. Unsecured personal loans are usually shorter term loans than secured ones and will come with shorter repayment schedules and smaller capital amounts. They also come with higher interest charges because the lender is taking a bigger risk when lending to people who have a record of financial mismanagement. The sums involved are smaller than with homeowner loans and are usually amounts between £1,000 and £10,000. A small group of lenders are able to offer large amounts – up to £25,000 – although people with seriously impaired credit may be unsuccessful when applying for one of these. Repayment schedules are usually anything between one and seven years although some lenders do have plans which stretch out to 10 years.

  1. Credit unions

Credit unions represent a small but growing part of the lending market in the UK. They are mutual organisations – meaning that they are owned by their members – similar to the ownership structure of the old building societies. Credit unions serve the communities that they are based in and offer savings accounts and loans to people who live or work in the area. The major downside to borrowing from a credit union is that most will ask new members to become savers before considering them for credit. This is because the money that they lend is based on the capital that they hold on deposit. While the amounts that credit unions used to offer was small, loans are now growing in value with many now offering larger sums – sometimes up to £10,000. The interest rates on offer are often lower than for sub prime loans.

Article provided by Mike James, an independent content writer working together with technology-led finance broker Solution Loans – a company with many years’ experience in advising clients of their most suitable type of credit.

Short Term Loan Facts

There are times when the unexpected happens which is the best time for a short term or payday loan.These types of loans are an effective and beneficial option that gives people instant money. If you’re in a financial bind a this kind of loan is a quick solution. You can easily apply for a payday loan online from the comfort of your home. There are many lenders that offer loans at a wide variety of different rates and terms. The biggest factor are the high interest rates.

Here is a list of things you need to consider before applying for a payday loan:

Research several different lenders. You can do this online by search for “payday lenders”. Be sure to make a list of the pros and cons of each lender.

Check out the lending process and become familiar with the requirements that are needed to obtain the loan. You can get approved by most lenders without going through any of the more traditional lending requirements such as collateral, credit checks, paperwork, etc. So be sure to choose a lender which doesn’t require that type of process.

Be sure you know the amount you need to borrow and how long the repayment terms are and if it fits comfortably into your budget. The amount of the loan and the repayment terms can help you determine which lender is right for you.

Check the list you made of several different lenders to find the one the best suits your needs.

When applying for a loan online be sure to complete the application giving all the information that is needed. The more information you give the faster your loan can be approved.

Include proof of income from your job and any other source of income. Again the more information you give the faster your loan can be approved.

Be sure you read all the paperwork the lender includes and that you thoroughly understand it. Ask questions if you have any doubts or don’t understand the paperwork completely. Also be sure to read the fine print since this is where you will find the details of the repayments terms, interest rates, and fees.

Read all paperwork that is associated with the repayments terms especially including details about should you need more time past the due date to make a payment. This part is where the interest rates and fees can double when you ask for extended time.

These are the steps required for a payday loan. If you follow these steps and submit all the required paperwork the process will be quick and easy.

5 Factors to Consider Carefully When Choosing a New Bank

Financial services have become increasingly important as consumers need checks, credit cards, and loans to enjoy their lives. The days of keeping money under the mattress are gone; in our modern world, fining the right bank to assist with your financial needs is a must for daily living. When you create a solid relationship with a bank, you can qualify for better loans. Customer service representatives who recognize you will save you time and give you better service. Here are 5 factors to consider when choosing a new bank.

 

1. Type of Bank 

When choosing a bank, you must determine which type of bank you want. Banks can focus on mortgages, consumers, corporations, or agriculture. If you are thinking about starting a new company, then you will need to find a bank with merchant services. If you belong to a specific organization or profession, you may also qualify for membership with a credit union that can offer you valuable services tailored to your needs.  Decide what features are important to you, and look among banks that cater to those needs.

 

2. Branch Locations 

Many people prefer to physically deposit and withdraw their money. Finding a bank branch, kiosk, or ATM along your route to work and home saves you valuable time. Some bank branches are even found in grocery stores of shopping malls. Also carefully consider the distribution of branches of the bank.  While a bank may be convenient in your area, if it is a regional bank, you may not be able to access needed services while traveling. Determine if the branch locations of the potential bank truly meet your needs all around.

 

3. Account Options 

Savings, checking, and mutual funds accounts have a wide range of features and interest rates. If you have children, creating an account for them will teach them how to manage money. Sometimes, banks have special “Savers” services allowing you to automatically transfer money from checking to savings. Some even offer 401(k) plans for retirement. Decide which accounts are important to you, then determine if the bank you are considering offers sufficiently attractive options in those areas.

 

4. Attractive Interest Rates 

Banks offer a wide range of interest rates based on their size, function and marketing strategy. Selecting a bank with high interest rates paid to you for your savings accounts and low interest rates for loans, can save you a lot of money in the end. Plan ahead to establish a solid foundation for your wealth.

 

5. Financial Services and Terms 

If you travel a lot, you might want a bank with traveler’s checks. Some banks have change-making kiosks. Business owners might want to purchase coins and bills for their companies. Online banking options are also available. What is the bank’s policy for third-party checks? What are the penalties for “insufficient funds.” Consider carefully financial services and terms the bank offers.  Make sure you truly understand the fine print and are satisfied by the policies and offerings.

 

Credit and banking has always been one of the primary inputs for productivity. Now, consumers are realizing that credit is essential for maintaining a high-quality standard of life. You will want to find a bank with good customer service making you feel comfortable. This is your money and finding a good bank to help you increase your wealth is the first step. Plan carefully and find the best option for you.

 

Aspiring Blogger Fin. Carnival at Aspiring Blogger
Carn. of Fin. Camaraderie at Tuition Assist
Fin. Carn. for Young Adults at My Life, I Guess…
Carn Financial Independence at Gaming Your Finances
Carn. of Financial Planning at Save and Conquer
Carn of MoneyPros at Financial Nerd

Use Your Credit Card to Your Own Advantage

Many people worry about having credit cards: the effect they can have on your credit rating and the importance of making the monthly repayments can be scary. However, if you pay your credit card off in full every month (to ensure you’re never hit by high interest rates) you can take advantage of some incredible credit card offers and incentives. Use your credit card to your advantage and ensure that it doesn’t cost you a penny whilst still taking advantages of all of the rewards credit card companies offer to entice people to sign up. Just remember to pay off your balance in full every month! Here are five ways that you can use your credit card to your advantage:

Consumer Protection

A huge advantage of using your credit card to pay for any purchases, particularly any big purchases such as holidays or large white goods, is that you generally get more protection when you use your credit card than with any other payment method. Credit card companies are bound by a consumer law (commonly called section 75) that says that if you pay for something with a value of between £100 and £60,260 on your credit card then you will get your money back in full if anything goes wrong with your purchase. Money.co.uk explain that Section 75 of the Consumer Credit Act 1974 is a piece of legislation designed to “remove the risk that you, as a consumer, will ever get into debt paying for goods or services that you didn’t receive, were faulty or were otherwise not as described.” That means if your washing machine leaks or if your holiday company goes under then you can have the safety and confidence to know that your money is protected. And don’t worry if your card is used fraudulently: whilst this is, of course, massively inconvenient you are also protected from fraudulent use of your credit card and will get your money back from your credit card provider.

Take Advantage of Cash Back Programs

Don’t apply for or use a credit card that doesn’t come with any additional perks. Competition between credit card companies is fierce so many credit card companies offer fantastic incentives to entice people to make an application. If you already have a credit card then contact your provider to ask if they have a cash-back or other reward program you can join and take advantage of. If they don’t, consider switching your provider to one that does offer a cash back programme. An example of this is American Express, who are currently offering 5% cash back on all purchases for the first three months of your card ownership. Capital One are also offering 5% cash back on all purchases for the first three months, and then up to 2% cash back each month after that. As long as you pay your credit card bill in full every month (for at least that three month period) so that you don’t get charged any interest, you could actually make a profit from using your credit card!

Look For an Air Miles Credit Card

If you are a frequent flier for business purposes, or just love taking regular far flung holidays, then you should look for an air miles credit card. Much like a normal frequent flier programme, with an air miles credit card you will earn miles every time you spend on your credit card rather than every time you fly. Once you’ve collected enough miles you can turn your points in to flights and then, voila! You can enjoy a holiday at a dramatically reduced rate, and all because you switched your credit card. Be mindful of the golden rule though: this kind of credit card is only a good deal if you pay the balance on your card every single month. Otherwise the cost of the interest will negate the benefits you are receiving from your credit card’s reward scheme.

Build Up Your Credit History

It’s important to have a good credit history, as this is essential when it comes to applying for larger credit such as a car loan or a mortgage. However in order to show you have a good credit history you first have to have utilised your credit: and that’s where a credit card will come in.  Even if you’ve never had a credit card before or prefer not to use credit cards for whatever reason, put a small amount on your credit card every month (use it to pay for your supermarket shopping or petrol, for example) and then set up a direct debit to pay off the amount in full. Using your credit card regularly will have a positive effect on your credit score, whilst paying back your full balance means you never have to pay for the privilege of using the card.

Credit Card Rewards Programmes

Finally, you could choose a credit card from the highly competitive rewards credit card market. If you are a regular shopper in Marks and Spencer, for example, a Marks and Spencer credit card could be the best option for you as it will offer rewards points for each pound you spend on the card, and then four times a year these points will be converted into shopping vouchers. Tesco offer a similar scheme where you earn Tesco club card points which are converted into vouchers to spend on your supermarket shopping (a great way to use your credit card and turn it into a tangible profit). If you do all of your monthly spending on your credit card rather than your debit card, paying it back in full at the end of the month of course, then these schemes could see you receiving a hefty return at the end of each period.

The main thing to remember is that if you use your credit responsibly, there are some incredible rewards to be had. However if you’re not good at managing your money, or remembering to make your payments on time, then these credit card offers are best left for someone else. You would pay more on the interest for a missed payment than you would gain from your credit card benefits.

Worried about your Credit Score? 4 Ways to Make it Better

When looking to increase your credit score, there are a few easy steps to take. Once you educate yourself about what makes a good credit score (or why you have a bad one), it will be easier to get on your way to working towards a respectable score. When following these four tips, one can see their credit score rise drastically.

Pay off debts

Often, a person will see their score suffer when they have old, unpaid debts that have not been resolved. The quickest way to fix this issue is to contact the creditors and ask to pay off the debt in return for a paid-in-full removal on the credit report. With this step, one can see their score risen significantly; however, when paying off old and delinquent debts, one must wait a few months to see the problem go away fully..

Avoid opening new cards or lines

When opening new credit lines, some banks fear that they person will take on more than they can handle. This is a problem that catches many by surprise. To avoid this problem, one should try to avoid opening cards while they are working on improving their score. Within a few months, a consumer should see their score rise, at minimum, a few points. Then, after fixing one’s score and profile, they can go on a spree and apply for cards.

Authorized user

Now, a person with no credit can have someone add their name to an existing credit card. When adding an authorized user, one will take some responsibility for that individual. However, the person being added will enjoy a massive jump in their credit score. That is if the person adding the user has a decent credit limit and low balance on the card. Remember, while this is a risky strategy, one can see their score rise into respectable territory quickly.

New credit

While some people have too much debt and credit, some do not have enough. To get a nice jump in a credit score, one can open a couple of credit cards or other loan accounts. This will allow a person to see a quick rise in their score even if they do not use the card or account. Remember, it is all about available credit and a consumer with more available credit will enjoy a higher credit score than his or her counterparts with little available credit.

 

With these four tips, one can see a drastic rise in their credit score. Remember, the sooner you get into good financial habits, the less you will have to worry about your credit. If you don’t know much about finances and that is why you have a bad credit score, it may be a good idea to see a financial adviser or do some research online so that you can have a clear understanding of the do’s and don’ts of money.

 

This article was written by Dixie, a freelance writer that writes for business, finance, women’s interests, and the home niches. She obtained her financial information from the professionals at the Legacy Lending Group, a financial institution that deals with fha mortgages in California. For more financial tips and ideas of how to build your credit, click here.

 

Yakezie Carnival at Budget for Health
Carnival of Retirement at Mom and Dad Money
Aspiring Blogger Fin. Carnival at Aspiring Blogger
Carn of MoneyPros at Money Soldiers

Aqua advance credit card: a boon for those with a bad credit score

Many people face financial setbacks during the course of their lives. For some, the effects of the financial setback can stay with them for a considerable time, with poor credit scores owing to defaults or County Court judgments counting against them.

Even without defaults or adverse County Court Judgments, it may be difficult to get a credit card or loan. Someone starting out in life, for example students or those new to the country, may have no credit history. Even people who have recently moved to a new area, and who are not yet registered on the electoral roll at the current address, may find their credit card application rejected. Financial institutions do not lend to people on whom they have no information, or whom they have no reasons to trust. Even household tasks, such as not paying utility bills on time, can have an adverse impact on credit scores, especially if the utility provider has entrusted the bill to a collection agency.

For those looking to improve their credit history, simply using a credit card correctly and in a thoroughly capable manner is a good way to build up a positive credit rating. When punctual repayments are reported to the major credit reference agencies, such as Experian and Equifax, the credit score will gradually improve.

Some cards offers an opportunity to set the score straight, and rebuild or establish a positive credit score. This credit card is available to students, part-time workers, unemployed, homemakers, new immigrants, and almost anyone who has bad or no credit ratings.

The primary benefit of acquiring an aqua advance credit card is to improve credit ratings. Aqua report to the major credit reference agencies and as such, those who make prompt payments on their purchases, would get better credit scores. Aqua advance credit card encourages borrowers to make repayments in time, by offering reduced APRs for timely payments.

Building a positive credit rating does not have to be done by making timely repayments alone. As the amount of debt to be repaid also impacts the credit rating, not drawing the full amount of available credit will also act positively on your credit score. Aqua advance credit card offers credit limits up to £1600, allowing the cardholder to draw only a portion of the available credit, and thereby keep the percentage of debt capacity low.

Cancelling a credit card may be counterproductive to the credit score. A cancelled card would reduce the overall available credit, and increase the percentage of debt capacity being availed. It would also nullify the efforts of maintaining a long credit history, one of the factors contributing to a high credit score.

Use Low Interest Loans

Piggy Bank          If you are one of the unfortunate ones where at the end of the month you have bills that are owing and you do not have enough in the bank to cover them you will be faced with the situation of paying partially what you owe. No one ever desires this but people are often faced with it due to a number of unforeseen conditions. This could be from surprise car or house repairs, a job layoff or a number of other reasons. However if this happens to you the first thing you will want to consider is how to pay off the bills you owe on while paying as little interest as possible.

In order to pay as little interest as possible you must first go to your bank and tell them what you are facing. Most times a bank will be able to offer you a loan with lower interest rates than any credit card or what any other bill will charge for late payments. If you own your house or a car or can put up any considerable bank accepted collateral this is not difficult receiving a line of credit. Lets say for example they offer you £5000 loan, you then use this amount to pay off your bills and then only worry about paying back the loan amount. Now check this amount against what a credit card company would charge, or a hydro bill etc, It is almost for sure cheaper. Other than borrowing off a friend or family member who you know well enough that they don’t mind, a bank should be the first place to go when faced with this situation.

However if you are in a position where you don’t even have enough personal worth to consider a bank loan, you will want to explore other options in order to pay off your debt. Consider selling anything you may have via an online venue or with a local news paper etc. If this is not a viable option, you may have to go with a higher rate of interest but do compare your options as there can be considerable differences even among credit cards or other venues.

After you have solved the issue of paying back what you borrowed for, I recommend an all out assault on saving money in order to put a little bit away for a rainy day. Do whatever it takes as it may save you far more in the long run. Eat cheaper food (not unhealthy, just cheaper) turn your heat/ac down, walk more instead of using an auto, do whatever it takes and save a little bundle for the future to avoid a further situation like this.

 

Buy Now Pay More Later

16376_20100126Life unexpectedly will through you a curve ball financially from time to time. There could be a major appliance that dies on you. Your car could face major issues that need repairing in order to allow you to get to work. We can all imagine and come up with scenarios where we are faced with a financial fee we where not expecting. If you do not have some kind of emergency fund available to take care of repairs or other mishaps, you could find yourself in a little financial trouble. So what do people do in this situation?

Many department stores and service retailers will offer a buy now, pay later deal. This does exactly what it says, it allows you to buy what you need/want and months or years down the road then you start making payments or buy it outright. This kind of arrangement can help you out in the short term to allow you to get what you need but what is it really doing to your wallet? While this sounds like a good contract, what you really need to ask yourself is if you will infact be able to pay for it down the road.

People often make a misassumption that years or months from now they will be in a better financial situation where as often they are in the same as they are today. Knowing this and then being faced with an additional bill to pay in the future can be stressful. Anyone taking out credit for anything has to really ask themselves if they will truthfully be able to make the payments at a future date. If the answer is suspect, it may be in your best interest to avoid it if at all possible. When I say if at all possible, I mean ask yourself how necessary it really is. So often people think they “need” something where as in reality it is just a modern convenience that is not a necessity but rather a desire. While we all want a washer and dryer in our homes, a Laundromat can suffice to clean your clothes until you know you can pay for a washer and dryer.

Buy it now and pay it later often just means buy it now and pay more later. The money you are saving in the short term often just ends up being covered in the financing in the future. To see what the differences are, you can ask what the total cost of something would be if you purchased it all now or what the monthly payments would be once the financing starts. Be aware of this and if at all possible if you are faced with a big purchase, consider purchasing it outright from the start. You will then only be faced with the one bill you will not forget about and no surprises in the future.

Your Own Credit Repair

7411_20080914Your Own Credit Repair (Specifically exactly what To Do And Just what Not To Do).

If you have ever recently been turned down for a financing, or for a brand-new financial institution card, you could possibly need credit ranking repair. Being rejected credit score is typically the outcome of a bad credit rating record, which may happen in 2 disorders. You have really either managed your credit rating improperly, which has actually mirrored in your credit rating state; or your credit file has some incorrect items, for that reason detrimentally affecting your document. In either circumstance, it is necessary that you embark on credit repair job when possible.

What to do.

Listed here is a technique to aid with your credit repair work. You could do this by yourself and can as a result fix your credit rating free.

– Demand a material of your credit report from any type of sort of one of the 3 credit ranking agency. You will definitely be offered the state free of cost of charge if this is your very initial need of the year.

– As soon as you have your state, review it thoroughly. You have to examine all the entryways and mark all those which are improper and which are hurting your credit rating value.

– After you have actually recognized the incorrect access, you should talk to the credit rating reporting companies and educate them to get rid of the wrong access from your state.

– Also if there are some correct entries in your credit record, yet these are negative in quality, you might perhaps still get them obtained. This will go a time-consuming method in ensuring credit rating repair work. There is a specific time frame for which bad access could effortlessly continue to be on your record (typically between 7 and 10 years). If such time frame has really passed, you should certainly create to the credit score agency to delete the bad products from your document.

– Make sure that all your correspondence with the credit rating business and firms is with registered mail. By doing this, you have proof of your needs in addition to when precisely you began the procedure of your credit rating repair work. Maintaining a record will definitely also aid you in situation any sort of kind of erased access is re-included in your record anytime in the future.

– Within 30 days, some activity needs to have been taken referring to the incorrect items on your report. If the credit rating bureaus figure out that the entries signed up with truth inaccurate, they will definitely eliminate it from your document, therefore creating the credit repair that you looked for.

In instance the worry is not dealt with to your contentment, you should continue testing the items on your state till such time that credit rating repair work has really certainly took place.

What Not to do.

Individuals whose credit ranking is minimized or that have a bad credit score state commonly attempt desperate techniques to repair credit and thus end up harming their credit rating a lot more. Many of the specifics offered on credit rating score repair work and credit rating report repair notifies you simply exactly what to do to restore excellent credit rating. We will definitely notify you pertaining to several of the points that you should NOT do in order to fix bad credit.

Send Segregation: Several credit repair work firms entice people with the incorrect guarantees of bad credit ranking repair work by notifying them that they could create a new credit rating declare them by issuing them a new identification. Thus, no matter what any kind of credit rating repair work firm informs you – points like you will certainly not be able to get any sort of loans or even a credit rating card for the upcoming few years, or that you will certainly not have the ability to obtain an activity etc; under no conditions should you acknowledge to the procedure of file segregation to fix bad credit rating.

Deleting exact details from credit record: Some credit rating repair companies make claims to individuals that they could fix credit rating by obtaining exact details of an unfavorable attributes eliminated from their credit ranking states, consequently improving their credit rating ranking. Thus, you must not rely on anybody that educates you that they may mend bad credit score by taking out bad products from your credit ranking record.

Progression Payments: No credit rating repair work company is legitimately permitted to ask for advancement repayments. Thus, you should NOT be soaked up by any type of kind of firm that wishes much higher improvement payments.

Individuals whose credit rating score is sensible or who have a bad credit rating state commonly try desperate means to mend credit ranking and for this reason end up harming their credit also much more. Several of the info obtainable on credit ranking ranking repair job and credit rating state repair work tells you exactly what to do to recover excellent credit rating.

Getting rid of exact details from credit record: Some credit rating repair firms make claims to people that they could easily mend credit rating by receiving exact facts of a damaging attributes erased from their credit rating reports, thus enhancing their credit rating position.

People whose credit ranking is decreased or that have a bad credit score state generally try desperate approaches to mend credit and thus finish up hurting their credit much a lot more. Many of the details supplied on credit rating score repair and credit ranking report repair informs you merely what to do to restore wonderful credit. Erasing precise specifics from credit rating document: Some credit rating repair work firms make claims to people that they may fix credit rating by receiving precise details of a negative attributes eliminated from their credit score states, consequently enhancing their credit ranking. Individuals whose credit rating score is acceptable or who have a bad credit ranking state frequently attempt desperate methods to mend credit ranking and hence finish up hurting their credit additionally much more. Many of the details easily accessible on credit ranking ranking repair job and credit ranking state repair work tells you what to do to rebound excellent credit.