Recession brought with it the cold hard truth that nothing is permanent. However safe you would feel with your job, family, and finances, one sweep of fate can wipe out your security in a second.

Many people lost their jobs when companies responded to the economic meltdown by downsizing. As a result, many suffered from drastic financial setbacks including bankruptcy.

In fact, if one sets aside the desperation felt at such times, many will find that there are plenty of ways to use the Internet to make money. Here are five suggestions you can utilize.

But before you go in for any option given below, draw up a list of all your talents and abilities. Add to this list your "soft" skills, and all the things you love to do. This will guide you in choosing the best option.

1. Freelance your skills. Look at the list closely and choose 2 - 3 of your best talents. Use platforms such as Elance, oDesk, Encoder, Freelancewriting and the like to broadcast your skills, and at the same time bid for jobs that are advertised there.

You can earn a neat amount by putting in just a few hours per day through these channels. The investment will not be more than $10-20. However, you will need a broadband Internet connection and a good world-processor.

2. Sell information. Are you an expert in any field? Write a guide on it! Or write a promotional e-book and then hook up with corresponding products so you can sell them through your website.

Of course, for this you need to invest a little in setting up a website, but that too can be done with just $20. But what if you don't want a website? You can simply sell your soft product through Clickbank or on eBay.

3. Sell on eBay. You can sell anything on eBay. Look it up! Understand how it functions and then set up your international shop on eBay.

They advertise for you; they promote your products; they give you a space in the internationally-visible e-shop. In return they will charge a small percentage of the amount you charge for your products. Fair enough; and very profitable! If you're interested in this avenue, it would be good if you researched the "wholesaler" and "dropshipping" terms.

4. Affiliate seller. Clickbank in particular has many soft products that can be taken up by you as an affiliate seller.

When you take up such affiliate products, the "mother company" will often offer free training, a seller website, and promotional advertising texts. This is the best way to learn about affiliate marketing and earn additional income. You might start with 2 - 3 products initially and as you gain experience, you spread out to as many as you like.

You can take up one, more, or all of these options and over time earn a handsome income with the help of the "Net." To be a success you only need to be consistent and willing to work hard!

One of the worst things that you can have on your credit report is a debt collection entry. This shows that at least one of your loans are long past the overdue date, for which the creditor has been hired a debt collection service to recover the outstanding money.

When such an entry finds its way onto your credit report, your credit score is bound to suffer. Prospective creditors shy away from granting you credit because this will seem too risky for them. What should you do in such a case?

Here are three action plans that you can take:

1. Negotiate for the best terms and pay the outstanding - this will require that you work hard at organizing the money due, so you can pay back the whole amount in the shortest possible time. However, before you pay these dues you need to negotiate with the creditor to remove the debt collection entry, which will help your credit report.

Be strong with your negotiations because most creditors will be happy to oblige when they are assured they will be getting their money back. If you pay without negotiating, you'll have settled your debt, but the negative remark will remain on your credit report, which will continue to hurt your credit score and reputation.

2. Give alternatives – you might find a few creditors who will not be too cooperative. In such a case, when you're one hundred per cent sure that they will never send a request to remove the debt collection entry from your credit report, offer the alternative of signing a letter indicating "paid in full" on receiving the payment.

This might not be as good as removing the debt collection entry, but at least it will tell prospective creditors that you did your best in the circumstances. It will say that you did pay back, which is the most critical part when considering a loan application.

3. Close the account – let's say that the creditors are too bitter to agree to the second option as well. You could still ask them to give you a letter mentioning that the debt has been "Settled" or "Paid." This will not be half as good as the ‘Paid in full’ note, but at least it will close your account in your benefit.

This is the minimum the creditors should do and you need to press as much as possible to have this done. In the event they do not agree even to this option, ensure that you send the receipt and all other relevant proof of the payment of the loan to the credit bureau requesting them to update the entry as "paid." This will take a little longer, but it's well worth the trouble.

This brings us to the beginning of the story. As you can see, it can be very troublesome to remove this negative entry from your credit report. Hence, the best option is to ensure that it's not entered in the first place.

Try your best to pay your debts on time so they do not give way to situations that will harm your credit score.