credit score,personal loans, revolving loans, consolidation loan and more

since recession hit a lot of issues has arise especially banks tightening the way they give out loans. I have been trying for a while to manage my money in a proper way, but I have been frustrated by the way things have changed since recession has become a sore. Here are a few pointers according to my latest experiences. Hope it can shed a bit of light for those out there seeking to consolidate debts or looking for a mortgage etc. Concerning credit score kept inquiries to a limit. Only have an inquiry done to your credit bureau when you are ready to pursue a new loan,mortgage or consolidation loan etc. Make sure you check before going to a bank that your score is at least a minimum amount that banks are looking for, but best if higher. Make sure there is not a lot of inquiries done to your profile within one year each inquiry lowers your credit score. Also, the debts you have should not have reached it's max limit. Keep your debts, especially the revolving loans,credit lines to less than the limit permitted including credit cards. If the credit cards, credit lines, or other revolving loans have reached it's max limit then even if your credit score is high, and no late payments you can still be refused for a personal loan or consolidation loan to bring all debts into one payment. Frustrating, but it is happening. The best option if you have a good wage coming in and all you want to do is put all debts in one payment, but you have been refused then get a note book first off. Then write down all debts and interest rate you are paying. Once you see what your debts are start making bigger payments to the first smallest debt on your list. Meanwhile do minimum payments on all other debts till the small debt is paid off. Then go to the next smallest debt and keep going that way till you have all your debts paid, but do not get new credit. Debts considered normal in life is mortgage and car. If you have to have a credit card keep at a small $$ amount credit limit and make sure if you charge to it pay it up at the end of the month. Well, this is my take on debts and recession. P.S put away at least 10% of your pay in a savings account for a rainy day. Trust me you will be happy when you are in a urgent need of money.