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If you are buried under the weight debt that you cannot repay, the Vantage Acceptance debt relief programs offers solutions without long-term damage to your credit. Learn how to find new credit after settling your old debts.

Debt Myths
Some people believe that debt relief is a simplified version of bankruptcy. They think that if they settle their debts, their credit will be ruined. This is not true. While your credit will take a hit, the damage is usually short term. Many borrowers receive new offers of credit while they are still in the debt relief process, in fact.

By taking advantage of new credit offers, you can start rebuilding credit. This is an important step to boosting your credit score and getting more favorable loan terms for your next big purchase.

How to Find New Credit
You could check your credit report as soon as you have finished the debt settlement process. You get one credit report from each of the reporting agencies per 12-month period, for free. Once you settle your debts and finish paying off the agreed-upon amount, the lenders will report your debts as resolved / paid and your credit score should increase. If you have paid off a debt and it does not say that it is resolved, then you need to contact the credit reporting agency to have the error removed. Know this, the credit bureaus need consumers to have credit. They receive compensation from creditors. Think about that.

Once you are satisfied that your credit reports are accurate, you can begin rebuilding your credit. The easiest ways to start are by getting added as a co-signer on someone’s account and accepting a prescreened credit offer.

Prescreened credit offers are mailed to your house. Since you have been pre-accepted by the lender, the application process is simple. Once you are accepted, review the new credit limit and the interest rate. To build credit, charge only what you know you can pay off in full each month. As you make on-time payments, your credit will improve.

To be a co-signer, ask someone who trusts you if they will add you to their existing credit cards. This person will be liable if you don’t make payments, which is why trust is key. Before you start to use the card, work out payment details with the other party.

Start small to prove to credit bureaus and to yourself that you can manage credit. As your financial management skills improve, so will your credit and your confidence. Remember, Credit got you into this problem, don’t make the same mistake twice.

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