...And how to bounce back!
If you’ve had money challenges, it’s important to remember that even major credit “dings” don’t have to be financially fatal. It’s still possible to rebuild your credit and repair your credit score.
Money challenges can occur for a variety of reasons, like divorce, illness, job loss or the reduction of work hours. If you have high credit card debt or have had to use payday loans, you may want to consider a debt consolidation loan. Personal loans or a Home Equity Line of Credit , if you own your home, could be debt consolidation options. Sometimes, consolidating outstanding debts into one loan can reduce your monthly/periodic payment and the total interest amount you pay.
Using an online tool, like Ent’s free SavvyMoney Checkup , to assess your finances can help you create a workable budget and identify opportunities to curb your spending, pay off debt and build your savings.
If you have damaged credit due to a financial crisis, be cautious of credit repair companies. They cannot legally take any actions that you cannot take on your own behalf. They often provide only temporary improvements of your credit score (for a fee), sometimes by removing accurate information that will later reappear.
If you have a loan with Ent and:
- Need immediate assistance with protecting your credit, making payment arrangements or potentially avoiding foreclosure or repossession
- Or, are in danger of falling behind on Ent loan payments
Contact one of Ent’s Member Solutions Specialists today at (719) 574-1100 or 800-525-9626 ext. 6950 .
For more information on debt counseling or debt management plans, visit Ent’s confidential financial counseling partner, GreenPath .