The Biggest Life Changes that Personal Credit Repair Entails

Personal credit repair issues commonly surface when life altering events occur.  Two of the most common life-altering events that affect credit are death and divorce. Because both events bring substantial financial change, many times, the change requires the assistance of a professional credit counselor. With the assistance of a counselor, a person  can once again begin to manage their affairs and get back on solid financial footing.

Life Change #1: Death of a Spouse

A non-working spouse faced with death, must handle the family finances alone. The daunting task can lead to bankruptcy or financial disaster. Credit counselors and repair services can help the non-working spouse make the transition into the world of payments. A credit counselor can help establish a working plan and even consolidate the family bills into one low monthly payment. Also, the credit service counselor can help ward off collectors to help while the spouse finds employment or negotiate lower balances to pay off.

The spouse may also be working, but can find themselves in a situation where the income is drastically reduced. The bills may be too much to handle alone. A credit counselor can also help  the spouse get through that financial hardship with consolidation or negotiation.

Life Change #2: Divorce

A divorcee’s credit is equally affected because they are typically accustomed to two incomes in a household. A person who has been dependent upon their mate for financial support, may find they are unable to continue their standard of living. A credit counselor can help them establish one low monthly payment that fits into their new living expense standards.