Nowadays, your financial possibilities in terms of getting loans are determined by your credit score. If you have bad spending habits then you would have done more harm than good and your score would be lower.

It even seems almost impossible to bring back to that score, to a good enough number if you have such a mountain of debt. Even when you have paid off your debt, you would have been labeled a ‘high risk’ borrower and you would have forever forfeited the chance of accessing loans with low interest.

It is best if you can find time to DIY credit repair to get rid of bad debt. If you see that there are mistakes, handle them quickly and have them resolved as well; follow up to make sure that every error is rectified. If you are to access any rental agreements, mortgages or loans in the future you have to follow these steps.

However, you might have to choose to get help from a professional credit repair company if you lack of time to DIY for credit repair.

A professional credit repair company like Sky Blue will work with you to get rid of your debt and fix your credit history. The work a credit repair counselor assigned to you will make lenders have more faith in you in the future when you are ready to borrow again.

The Sky Blue Credit Repair company has been operating with almost twenty years of experience behind them; within the credit business.

They deliver strategies that work very quickly and are effective as well. This is simply great news for anyone who has a bad credit score and needs to have it fixed.

To access their services you have to be in agreement to pay $49 and there is also an initial payment of $49. This takes care of all the admin costs to open your Sky Blue Credit Repair Account.

Their process is simple and easy, even if you want to close out your account with them; there is no hassle or fees to pay.

There are several areas of service that they offer: a) unlimited credit report disputes, b) unlimited creditor and collection intervention and c) couples discounts.

a) Unlimited Credit Report Disputes. The unlimited credit report dispute has to do with Sky Blue Credit Repair company conducting a full credit report analysis.

If there are any anomalies they will show up and you can contest them being on your credit report. If all goes well your report will be adjusted to show the changes and their removal.

b) Unlimited Creditor and Collection Intervention. The unlimited creditor and collection intervention allows you to give Sky Blue Credit Repair the permission to represent you with your creditors.

You will have professional leverage and less stress to deal with. You will see that they work very quickly to handle your case.

c) Couples Discounts. The couples discounts are simply being able to pay one cost to open an account for both you and your spouse. They also have a 100% service guarantee.

Sky Blue Credit Repair Customer Testimonials:

“An absolutely fantastic experience from the start, brilliant and friendly. I recommend Sky Blue to anyone with credit issues.” – Robert B.

“The bad marks are gone, my scores are up, and I was just told that my report is “solid gold”. I feel like a new person! Thank you so much!” – David W.

“The entire experience was a pleasure, the price was right, and the results were amazing. Thank you!” – Mary R.

For your information, Sky Blue Credit Repair company has NO single complaint on record against them, talk about being a master in their craft!

Sky Blue Credit Repair: Our Top Choice among Credit Repair Companies!

Sky Blue Credit Repair has our vote for the best credit repair program available. It is our opinion that they have taken the business to a whole new level. This is far more than just a dispute factory.

Sky Blue focuses on making sure you are left with truly usable credit – credit that meets prospective lender guidelines so you can really benefit in a tangible way.

We especially appreciate the Sky Blue Credit Repair focus on personalized customer service. The one-on-one attention is part of a comprehensive approach that makes them so attractive.

They include unlimited credit bureau disputes, debt validations, credit score consultation, guidance with building new credit, and even assist with rehabilitation of student loans if needed.

We also really like the fact that Sky Blue Credit Repair only charges a single low monthly fee without requiring any upgrades. One price covers everything needed to clean up and restore your credit. They also offer a great 50% discount for spouses if you sign up together.

Sky Blue Highlights:

• Credit repair services offered since 1989
• A focus on the highest ethical standards
• One-on-one customer service
• A unique approach designed to build truly usable credit
• $49 setup fee followed by $49 per month – half price for spouse
• All inclusive – No confusing program options or costly upgrades needed

Mmm, don’t believe all you have read here! Just check them out at Sky Blue Credit Repair and see if you are interested to increase credit score through credit repair! ^.^

Note: Fellow Malaysians, Sky Blue is a credit repair company in the US, okay? Mmm, is there any credit repair company in Malaysia? Let me check out if AKPK offers credit repair advice as well!

I have about $25,000 of debt but can still pay monthly payments on time and have never missed a payment.

If I try to get a personal loan as opposed to a debt management program, which looks better to creditors?? My credit score is around 650-670. I am thinking of going to a non-profit credit counseling agency to see what they think.

I still have some stocks and bonds totaling $6,000. I do get paid consistently and have been trying some internet surveys to make some small money on the side to my job.

What things should I look for at the credit counseling agency?

I am sure they are of the same reasons given by others who were or are in debt management plans.

Let me share with you top 10 reasons why people with credit card and personal debts, including myself, have turned to debt management programmes to pay off the debt.

May the reasons stated below help you make up your mind whether a debt management program is the right debt relief option for you.

1. You have tried out self repayment plan but it doesn’t help much to decrease your debt balance. I did try out self credit card debt reduction from April 2007 to August 2008 and managed to bring down my credit card debt from RM63,809 to RM40,344. But since then, the amount of debt balance didn’t decrease much.

2. You are so deeply in financial crisis that you need to get rid of your debt before any legal proceeding such as being sued for bankruptcy starts. Although I was able to bring down my credit card debt through self debt reduction plan, I still decided to turn to AKPK debt management program.

Why? Well, I couldn’t bear with the late payment fees and over-limit charges imposed by banks anymore; the amount of late payment fees and over the limit charges was so much that it made my efforts of paying down my credit card debt a waste of my hard-earned money.

3. You don’t want to be disturbed by irritating and harassing phone calls from debt collection agencies. Ask anyone who has been behind their payments or has missed a few credit card payments, they will tell you how stressful and depressing it is when it comes to handling calls from banks and collection agencies, and also piles of notices and warning letters.

4. You would like to lower the interest rates on your outstanding balances so that you are able to save money. From 18% interest rates to 6% or 7% interest rates, I must say that it’s a huge saving.

5. You don’t want to pay extra charges due to late payment. One day in August 2008, I told hubby that I had had enough of paying the never-ending late payment and over-limit fees charged by banks that brought us to nowhere, but increasing credit card debt!

6. When your budget is too tight, a debt management plan allows you to lower your monthly payment. Due to economy downturn, hubby’s meager income and my decreasing online income made us opt for lower payments for our credit cards.

Previously hubby and I had to pay more than RM2,500 for the credit card minimum payments. But with AKPK’s debt repayment plans, we are allowed to pay much much lower payments to our creditors. My DMP is RM320 per month while hubby’s DMP is RM360.

7. You have no idea about managing your own debt at all and you need proper guidance.

8. You have multiple bills and you can’t manage them efficiently.

9. You find that you need a professional credit counselor to assist you to work out a budget based on your income and commitment.

10. Your credit score is in a bad shape and there is a need for you to rebuild it through a proper debt management program.

A: Yes. You NO longer can use your credit cards; all your current and valid credit cards will be terminated once you are in the program.

Q. Is it true that no banks would approve my new credit card and loan applications?

A: Yes. As long as you are in the program and haven’t settled all your credit card debt, no banks would give you credit cards or loans.

Q: What about after I have successfully paid off my credit card debt?

A: Yes. You can apply for a credit card or loan again after your full settlement.

And judging from what I know about Malaysia’s banks, I am pretty sure that you can get a loan again and fast so long as you have CASH as down payment.

A good example was my car loan. It’s about 3 years ago. Of course, I was still able to manage my credit card debt at that time and never heard of AKPK.

The bank officer that was in charge of approving my car loan kept telling me that my credit card payment records were far from satisfying and it’s kind of difficult for him to approve it.

Well, in the end he still approved the car. Why? I traded my old car and I could get back at least RM5,000. With RM5,000 paid as the down payment for the car, tell me, which bank would say no?

Q: I heard that my credit score will be damaged once I am in the AKPK debt management plan. Is it true?

A: Since you are thinking of visiting AKPK credit counseling agency, it’s my guess that you have already missed a few credit card payments or you have stopped making payments to banks, right? I am sure your credit report should have been tainted badly because of these missed payments, right?

So, does it matter much if your credit report is hurt a bit more by you being in the debt repayment program?

In fact, being in the program helps rebuild your credit rating. Your monthly repayment to the credit counseling and debt management agency shows that you make payment every month.

Judging from my experience with Malaysia’s banks, so long as you have CASH …   You know what I mean, right?

Q: You seem to say a lot of good things about AKPK. Do you earn a commission for each referral?

A: I HOPE AKPK pays me commissions for all the information and good stuff about AKPK mentioned by me.

Of course, NO.

Q: Then, why do you talk about AKPK all the time and recommend it to every Malaysian who is in credit card debt?

A: The reason is simple. I am sick of seeing people selling credit card debt reduction solutions to people like you and me who are so deeply in debt and desperately trying to find ways to get out of debt.

Thinking back, I should not blame people who sell the credit card debt solution info. It’s human being’s mentality that FREE info is not worthy; only PAID info is valuable.

I am still paying my credit card debt, but without much stress. Unlike before signing up with the free debt management program, I was so stressed out by high interest charges, late payment fees and over the limit charges imposed by banks and creditors.

Being in a debt management plan means that I get to have a fresh start with my creditors; save thousands in credit card interest charges, late payment fess and over limit charges; improve my credit score; and most important of all, avoid bankruptcy.

How do you know whether you should go for a DMP? You should go for DMP if you are in any of the situations as given below.

* You have unmanageable bills that you no longer can make another month’s minimum payments.

* You’ve tried out DIY debt reduction plan but it has not helped you to pay down your debt.

* You want to stop getting harassing phone calls and warning letters from banks, creditors or collection agencies.

* You want to lower the interest rate on your bills, eliminate late payment fees and waive over-limit charges.

* You want to get out of debt through an affordable plan.

What is a debt management program? A debt management program, also known as debt management plan, is a debt relief program designed specifically for you who can no longer afford your minimum monthly payments.

It works to reduce the total amount of the debt and restructure it into a single affordable monthly payment.

You make One lower monthly payment to One credit counseling agency on One due date instead of multiple payments to various creditors on different dates.

A debt management plan enables you to get out of debt from under your unsecured debt in three to five years instead of ten, or even twenty years if you make only minimum payments to your credit cards.

If you ever find yourself having problems with paying off your credit card debts, the first course of action is to take a look at the budget. Finding ways to cut back on unnecessary expenses can help you pay down debts and keep monthly bills current.

But what if you can’t settle your debt problems with budgeting? Well, seek assistance from debt help relief options to help gain control over your debts so that your credit rating will not suffer badly.

Debt Consolidation. You may turn to debt consolidation as an answer to your debt problems. Debt consolidation enables you to transfer all your high-interest credit card debts to a lower interest credit card, or you put up the equity in your home to get the money to pay off your debts.

While both unsecured and secured debt consolidation options provide lower payments, they are with some drawbacks. Closing numerous credit card accounts and putting all of your debts into one account can negatively impact your ratio of debt to available credit, lowering your credit score.

And if you use your home equity to secure the money needed to pay off debts, you’re putting your home at an unnecessary risk. You face the risk of losing your home if you fail to make payments.

Credit Counseling. Another popular debt relief option is credit counseling. Credit counseling agencies, non-profit or for-profit, offer help with budgeting, and if it is determined that budgeting is not enough to solve your debt problems, they will sign you up with a debt management program.

A debt management program, also known as debt management plan, involves negotiation with creditors to reduce interest rates, eliminate late payment fees or over the limit charges, and lower payments.

You make one monthly affordable payment to the credit counseling agency’s collection account, and the agent forwards payments to each of your creditors.

A DMP can help you get out of debt faster, but it can also have negative impact on your credit score. As a note is added to your credit report stating that you are in a debt management plan, you no longer can get a new credit card or loan. However, the notation is removed once you’ve settled your debts.

Either you decide to enroll in debt consolidation or a debt management plan, it’s important to make sure you’re dealing with a reputable credit counseling agency that is a member of the Association of Independent Consumer Credit Counseling Agencies (AICCCA) or the National Foundation of Credit Counseling (NFCC).

As AICCCA and NFCC regulate and monitor member agencies to make sure that they operate legally and ethically, you save yourself from being scammed by unscrupulous credit counseling agencies that charge high fees or fail to make payments to creditors on time.

To prevent yourself from facing undue stress caused by spiraling debts and damaging credit score, it’s wise to seek help at the first sign of trouble.

I had to resort to joining a free debt management program after failing to see much decrease in my credit card debt. Month after month I threw in chunks of my hard-earned money into making the minimum payments, yet the total credit card debt didn’t seem to drop much.

Was it because I kept adding new credit card debt to my outstanding balance? Noop. It’s because of late payment fees, over-limit charges, cash advance fees, retail interest charges, and miscellaneous fee charges that kept being added into my total debt.

Scary, right? To avoid letting these horrendous fees imposed by banks and credit card companies drags you into a deep debt hole, you need debt management tips to help you get out of debt fast.

1. Credit Counseling. Seek help from a certified credit counselor who can help you navigate through your debt dilemma.

You can either opt for a non-profit credit counseling agency or a for-profit credit counseling company when it comes to credit counseling. The difference is that the former provides free counseling and charges a nominal monthly fee if you decide to enroll in a debt relief program while the latter charges quite exorbitant fees.

2. Debt Consolidation Loan. You should only consider a debt consolidation loan if you are not able to replace your high interest credit cards with one, low interest rate credit card. This is because you may have to pay for an application fee for a debt consolidation loan, whereas with a credit card you would not.

3. Home Refinancing. Refinancing your mortgage allows you to save hundreds of dollars per month on mortgage payments. With lower mortgage payments, the money saved could be used to pay off your credit card debt.

4. Home Equity Loan. Alternately to home refinancing, you may have enough equity in your home to cash out and pay off your debt. Most importantly, credit card debt is not tax deductible, but a home equity loan is. This means you can reduce your debt as well as reduce your tax obligation by cashing out.

See, you have some viable solutions to help you get out of debt fast without resorting to any debt management program, debt settlement plan or bankruptcy that damages your credit score.

Of course, if given a chance, you don’t want to have to resort to either of these financial relief programs in your lifetime.

Debt Management Programs. Debt management is a program where a consumer credit counseling service company combines all of your debts into one big sum and works out a monthly payment that you can afford. You pay this lower monthly repayment until all the debt is gone.

All the major credit card companies will work with a debt management program rather then see you go into a collection agency.

There is one catch though. During the course of your debt management program, you cannot apply for new credit of any kind anywhere.

Debt Settlement Plans. Debt settlement differs from debt management as instead of paying a monthly payment, you pay the whole amount up front.

In order for this program to work you have to have a large amount of money on hand for a one time sum. Inability to meet this requirement will probably end up with you getting calls from a collection agency.

If neither of the debt relief programs is what you want, then just keep your bills paid on time.

The primary difference between a debt management program and a debt settlement plan is whether you credit score will get hurt.

So, will joining a debt management program or debt settlement plan negatively affect your credit score?

Credit card debt management program usually leaves you in better shape with an easier time of restoring your credit while while debt settlement usually leaves your credit in a blasted wreck and takes a while to restore.

As you know that bad things do have a tendency to happen when you are least prepared, just keep in mind you do have these two choices.

At that time when I was thinking about getting out of credit card debt with a free debt management program, I was already a few months behind my monthly payments and wasn’t able to pay the minimum payments.

Not only were there non-stop phone calls and letters from banks and creditors, I started getting phone calls and visits from third party collection agencies!

If you had been in my shoes, would you have thought about credit score or cared if a a debt management program would damage your credit score?

I didn’t care. What I wanted to do at that time was to get into a shelter for a temporary relief; a credit counseling and debt management agency for a temporary financial relief.

I needed to enroll in a debt management program that could consolidate my multiple credit card payments into one payment and stop all the harassing phone calls, warning letters, third party collection agencies, exorbitant late payment fees and over-limit charges.

Since I was put in the free debt management program in October 2008, I have been able to heave a relief. Paying ONE smaller monthly payment to ONE credit counseling agency on ONE due date enables me to save more money for the emergency funds and pay my credit card debt without much stress.

It’s true that if you have loads of debt but are current on all your payments, your credit score may drop when you enter a debt management plan.

But if you have several late payments or are currently way behind on any credit payments, chances are a debt management repayment plan actually improve your score.

Enrolling in a debt management program is a long term decision, and the fact is repaying your debts is the best thing for your credit score.

I used to be like you too – I was drowning in heaps of secured and unsecured debts; my monthly income was always not enough to pay the minimum payments; the mail box was filled with warning notices and legal letters from credit card companies and there were many times that I just wanted to run to another country to start a new life.

However, you can get out of this terrible debt situation by signing up a free debt management program.

Debt management programs, both non-profit and for profit, are programs designed to help those who can no longer make payments on their cards, and are used as a last step toward bankruptcy.

When you enroll into a free debt management program, a credit counselor will speak to creditors on behalf of you to make negotiations about your outstanding debts, interest rates, and late payment fees or over-limit fees.

A good debt management counselor who is in charge of negotiating with your creditors to reduce your monthly payments to match your ability to pay can help you reduce your monthly repayments to your creditors up to 75%.

The credit counseling agency that takes one monthly sum from you will be in charge of redistributing the funds to all your creditors.

Once you are in the debt management program, your creditors will not contact you to demand you to pay your debts.

Debt management plan tends to have less impact on your credit score, as compared to bankruptcy, but requires that you have sufficient income to cover your living expenses, plus the plan payment.

As a conclusion, debt management program enables you to easily reduce your debts and make single monthly payment to one credit counseling agency on one date.