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email TOLEDO, OH (WTOL) - A rebuilding credit workshop on Saturday, March 21, aimed to help folks fight financial problems . Several banking and legal experts were fielding questions and offering advice.
Fifth Third Bank's Linda Ewing says you can turn your credit around in three easy steps.
First, get a free credit report at AnnualCreditReport.com.
"Credit scores are going to indicate what your interest rates are going to be. If your credit score is high, your interest rate will be low and your payments will be lower, so you can save money."
Second, contact debtors. Linda says most companies will work with you, if you're struggling with payments.
"You need to notify them that you have a problem and you want to work through that. Not dealing with the issue means your creditors will turn you over to a collections agency."
Third, make a budget and stick with it.
Ewing says it starts with writing down every penny you spend. Notify your creditors that you have a problem and you want to work through it.
"Not dealing with the issue means your creditors will turn you over to a collections agency."
Experts say whatever you do, make sure you deal with the situation.
Linda says you can win the battle. "There are ways to turn it around...It may take a while, but you can get out of debt."
Today's financial workshop offered several websites helpful in rebuilding credit.
- Get Your FREE FICO® Score & Credit Report
- Link to Consumer Credit Counseling Service
- Your Money NOW online.org - Ohio Treasurer website
- Link to the Lucas County Treasurer
- Link to the Federal Trade Commission