Improving Your Credit Record - A Step-By-Step Guide!
When you are looking to improve your credit record, it is easy to fall prey to scam artists offering to do the work for you in exchange for high fees. This article will help you understand the credit repair process so you feel confident moving forward.
1. Get a copy of your credit record from all 3 credit bureaus.
2. Determine if there are errors in any of your credit records.
3. File a dispute letter with the creditor and the credit bureau for any errors you find in your record.
4. Stop using your credit cards now!
5. Set-up payment reminders so you pay your bills on time.
6. Establish an emergency fund for future unplanned expenses.
7. Develop a workable budget to live within your means.
8. Consider taking on an additional part-time job to add income.
9. Try to negotiate lower interest rates on your credit card debts.
10. Pay off your existing debts using the "snowball" method.
11. If you cannot discipline yourself, then consider the use of an accredited consumer credit counseling agency.
The process of repairing your credit and improving your credit record is not especially complicated, but it takes serious discipline and commitment. The peace of mind that comes from taking positive steps to improve your situation can be profound. The steps outlined in this article will set you on the right track for a solid future of good money management.
Repairing your credit is worth the effort you put into it
Credit repair can seem daunting at first, but with the right approach, you can have a better credit score sooner than you think. So take back control and make it happen.
1. What is the difference in the three credit bureaus?
2. How can bad credit reports be disputed?
3. What responsibilities do creditors have in regards to your claims?
4. Do you need a credit monitoring service?
5. Should you drop my credit cards?
6. Should you document contact with creditors about my report?
You may not be an expert on credit repair, but you have resources available to help you. Be proactive in solving issues with your credit.
Credit Repair: Avoid the Scams and Improve Your Credit Score
Many illegitimate operations promise to help you improve your credit score -- overnight -- for a fee. However, you can improve your credit score for free if you know your rights and are willing to do a minimum amount of leg work.
1. Learn the signs of a credit repair scam. (Why should you learn the signs of a credit repair scam?)
2. Request your credit report from each of the three major credit reporting agencies. (Why should you request your credit report from each of the three major credit agencies?)
3. Dispute any inaccurate information on the report. (Why is it important to dispute inaccurate information on your report?)
4. Negotiate with creditors to pay off outstanding debts. (Why is it a good idea to negotiate your outstanding debts with creditors?)
5. Continue to pay your current bills on time. (Why should you pay your current bills on time?)
6. Don't close accounts for the sake of closing accounts - the length of time open matters. (Why should I keep my old credit accounts open?)
7. Don't dispute positive information. (Why shouldn't I dispute positive information?)
8. Don't talk to creditors or credit reporting agencies on the phone; keep a paper trail. (Why is it important that you not talk to creditors or credit reporting agencies on the phone and keep a paper trail?)
Repairing your credit is not an overnight process, and you should be wary of anyone promising you immediate results. You can do it yourself, for free, if you're willing to do a little research and learn about your rights.