Selling to Repair Credit
If you are in debt it's wise to sell a few items to get the funds
to repay some of your creditors. If you are selling your items to become debt free
you should think long-term and realise that you can gradually replace them all once your
debts are repaid. If you have a mortgage or a car payment or both and can't afford
your payments it is in your best interest to sell everything you can in order to
raise some money. This won't only
get you out of debt but more often than not you may even make extra
cash to repay your debts and possibly have cash left over.
If you don't have
items to sell you might want to look into multiple options available for
repairing your credit and begin the process of building your credit score and
ratings. Naturally if you are deep in debt you will want to cut back on
unnecessary expenses in an
effort to save money to pay your debts.
Often we purchase items that we don't really
need. If you have many things in your home you can have a garage sale
or yard sell. This is an excellent way to make a few extra dollars.
Another great solution is negotiating with your creditors.
If you call each
creditor and explain your situation, they might offer you a lover monthly
instalment that you can afford to pay. Any lowering of the amount is better
than none at all. Finding a solution is not always as hard as it
seems. Let's take a look at cutting back on expenses to get you started on
on repairing you credit.
What is the amount you pay each week on food? Do you use coupons?
Do you purchase products or groceries on sale, or do you pay premium money for
name brands? Lastly, do you purchase groceries in bulk, (cheaper to do so) or do
you go to the store regularly to get only a few items each other day? Smaller
packaging means higher price. To build your credit you know you need
If you use coupons, or purchase items on sale you are saving money and taking
a step toward repairing your credit, since the savings can be applied to your
credit bills. Can you save on gas? Do you travel to buy your goods where you
don't really need to go to as there are cleser options?
Do you spend more on gas simply because you haven't tuned up
your vehicle? What about car sharing.. you could split gas bill
with other people that work at the same place as you? Remember that a penny saved is a
What about at home? Do you cut back on electricity, gas, and other
utilities? Is it possible you can cut back and save some money toward your
credit repair? Maybe you might get rid of cable or satellite.
subscriptions to books, magazines or music? If you enjoying reading books or
magazines, libraries often have books and magazines that you would
normally pay for via subscriptions.
How about work? Do you eat out? Why
not carry a packed lunch to work instead of eating out?
There are other areas we can
cut back on. Areas such as purchasing second hand clothing, shopping at yard sales,
spend less money on vacations and holiday gifts, and so on.
Each time we cut
back we are one step ahead to achieving a stable life. When we work
toward stability we are on our way to repairing our credit ratings and score and
working in the right direction toward fixing our lives.
We could also sell
items on Ebay to earn cash.