Online Class: Understanding and Managing Your Personal Credit

Credit governs everyone's lives. It is what allows people to buy a house, get a car, have a credit card and generally live a life they cannot really afford. Sadly, many people get into a debt spiral that soon goes out of control. They have trouble keeping their head above water, and soon they fall under as the weight of debt drags them down.

Thankfully, credit can be managed and all it takes is having the ability to change how one lives their life. By implementing the lessons explained in this course, an individual will be able to take their credit and repair it.

This is not to say that it will be easy. If anything, it will be very difficult to do. They will be struggling to keep their head above water, but as they persevere, they will be able to slowly fix their credit and get credit relief.

There are many ways that a person can get rid of debt, and they are covered in this course. These include:

1. Understanding Credit
2. Understanding a credit score
3. Understanding how credit is affected
4. Understanding Credit Cards
5. Understanding Foreclosure
6. Understanding Bankruptcy
7. Understanding the Debt to Income Ratio
8. Understanding the Debt Spiral
9. Finding Debt Counseling
10. Finding Debt Consolidation
11. Learning to live within one's means
12. Learning how to budget
13. Knowing how to stay on track
14. Understanding Credit Reports
15. Fixing Credit Errors

These must be done right, and cannot be rushed. To get out of debt and realize credit relief, one has to work hard to do so. This course will explain how to repair credit using the tips that have helped millions of other people raise their credit score hundreds of points through know-how and determination.

Courses Frequently Bought Together:

Investing 101: Stocks, Bonds, and Mutual Funds

Housekeeping 101

Cross-Cultural Communication

Course Motivation

Typically, any large movement of financial capital is dependent on credit, and this becomes dependent on the reputation of the individual for how much credit they are allowed to borrow, often called creditworthiness.

Credit has become a huge part of our lives and it is actually very hard to get away from it. Many companies these days will offer credit to their customers as part of a purchase agreement. It is rare these days, when you make a payment at the till, that you are not asked if you want to get the company's credit card for cheaper purchases. Many choose to go with these store credit cards on impulse alone, which can have problems for many in the future.

There are several forms of credit that a person or company can have, with the most common being:

• Credit Cards
• Mortgages
• Car Loans
• Lines of Credit
• Leases
• Loans

These are just a few of the types of credit a company or person can have, but they are by far the most common of all the types.

In the United States, credit is a way of life, but what are the stats that relate to it? How do you compare as a consumer to other consumers with your credit situation? Are you above, or below the average, and do you have something to worry about?

In terms of total consumer credit on credit cards, it equals an astonishing $1.7 trillion. Each American has an average of about $8,562 credit card debt at this very moment, and the total finance charges that are paid by Americans each year is about $50 billion.

Most households -- 78 percent -- are deemed credit worthy by the lending industry, but that being said, about 1.3 million people declare bankruptcy each year.

One very good indication of how much people are in debt is their debt-to-income ratio. This ratio, which will be addressed later in more detail, determines just how much someone pays from their net income toward debt payments. Right now, the average ratio is about 14 percent. That means that the average consumer uses 14 percent of their yearly income to pay their mortgage, as well as auto and personal loans, and credit cards. That means that if you make $33,000 per year, net-income, then you pay $4,620 each year in debt payments.

Credit is a unique beast. It is something that everyone uses, and everyone needs, but it can be a double-edged sword for many. While it can give you a house, car, and items you really cannot afford, it can also spiral out of control and begin to hold you down as you attempt to rise above the debt water before you are swept away.

Credit is something that you have to deal with, and sometimes you deal with it the wrong way and you lose your credit. What do you do in this situation? Well, thankfully credit is something that can be repaired. You can fix your credit; it just takes time. That is the one good thing about credit, it is not set in stone and it can be repaired. In this course, you will find out how.