Money Smart

In the United States, your credit rating tells a lot about who you are. If you've been careless with your finances and incurred a lot of debt or maybe filed for a bankruptcy, you are considered high credit risk and no creditor will trust you with a loan. What's the best way to get back on your feet financially? First, try to settle all your dues. If all you can afford is the minimum payment on your credit cards, so be it. At least you're trying to pay. The worst thing you can do is to stop paying at all. Live within your means and save for rainy days.

It might also be a good idea to take advantage of bad credit loans. Consolidate your debts and aim for a lower interest rate. There's a lot of things you can do to get back in track. Be pro-active. Start now.