Removal of Late Payment from a Credit Report

Did you go through your credit report? If you have not gone through it, then it's my request to you go through it. I am sure you are going to find some errors related to late payment which was not late, or may be you have already paid it. If you have already paid the late payment then make sure that you get it in writing, so that you can avoid these small errors in the future.

Do you know how can you remove these late payments from your credit report?

You have not paid for 30-90 days, and then you will charge for late payment in your credit report. This is shown in your credit report to reflect your credit personality. If you want to remove this then you need to put some effort but its not really hard. The first thing which you need to do is to give a call to the lender and give an explanation of your situation. Ask them to remove it from your credit report.
If this doesn't work, then you need to dispute it with the credit bureaus by making continuous calls. If you are able to dispute it then it shows that you are serious. If you can show it to them that if you are in good standing, you will make it sure not to make any late payments and you can easily get it removed.

Effect on teens due to this economic recession

Are you affected by this Global recession? May be yes or may be no… But, there are so many people in this world who are affected by this recession severely and have lost their jobs. They are unemployed and did you ever think how their child is getting affected due to this job cut in various job sectors?

To help financially and to assist their parents in this situation, the teens are sacrificing their wishes like playing sports, participating in activities and buying new clothes for schools or any other occasions. Even there are many children who are moving to new towns along with their parents in search of new jobs.

Along with their parents, many teens are also looking for jobs to assist financially and also to earn some extra money, but they are also not getting any and have remained unemployed. To come out of this hardship, teens have become very smart in their spending habits. Now-a-days, they avoid buying clothes from branded stores; they are seeking for discounts and offers.

This recession has really affected so many families and indirectly the children and teens that all have to sacrifice their wishes for the time being, but once the economy recovers, everyone hopes to get employed. So, lets all be smart in our finance related issues.

Increase in Medical Bankruptcies in America

Do you know that the average US citizen has money in their account just to run for 4-5 weeks with no income? If money supply in their account stops then they will become bankrupt. Now, just think that you lose your job in this situation in this time of economic recession.

At this period of time if any of your family members falls sick and the expenses are so high that the medical insurances cannot cover up those expenses, then you won't be able to pay the medical bills and you will be bankrupt. The health care system in America is broken and the prices have become really high. And, due to this, more and more people are becoming bankrupt due to medical bills which they cannot pay.

Do you know one strange fact? In America, the most popular reason for filing bankruptcy is the medical bills which cannot be paid. The Americans are leaders or rather to say toppers in credit card debt, higher prices in food, high price of drugs and in the meanwhile if any medical emergency arises, then they become bankrupt.