A goodwill letter usually asks creditors to overlook the past due bill and accept your payment as if it had been received on time. The end result is left up to the creditor to decide whether or not to erase any negative marks on your credit report.

A secured credit card requires the cardholder to make a security deposit, whereas an unsecured credit card doesn't. Both can be a great tool for building a positive credit history and improving your credit score; each has its advantages and disadvantages.

Debt is like a crushing weight on anybody experiencing it. That's why debt consolidation loans are so appealing. But debt consolidation loans are always the best option. It is important to weigh the impact of getting a new debt consolidation loan.