If you have bad credit, you know how much trouble it can cause. Don’t let yourself be held down any longer by your credit history! Read on to find tips and tricks specifically geared for people in your situation looking to repair their credit score and move on with their lives.
When trying to rid yourself of credit card debt, pay the highest interest rates first. The money that adds up monthly on these high rate cards is phenomenal. Reduce the interest amount you are incurring by removing the debt with higher rates quickly, which will then allow more money to be paid towards other balances.
Report older negative items even if you know they are correct. If you report an item, the agency will contact the owner of the debt to confirm that it is an accurate debt. Many agencies either do not have the time to respond or no longer have the records available. It’s worth the time to see if you can get these removed.
If a credit collection agency balks at removing incorrect items, consider taking them to small claims court. The law gives you the right to sue for damage to your report, the expense of removal, and the emotional stress involved in dealing with it. In many cases, you can win by default as they fail to show up.
Report good information to credit repot agencies to help increase your score. If you have a job that is not listed, have it added to show job stability and increased income. If you owe taxes and have paid them on time, have that information added as well, to show that you do have the ability to pay debts.
Even if your credit card allows you a grace period, if you are trying to repair your credit, make at least the minimum payment every month. Skipping payments tells the credit card company that you are broke, irresponsible or both, even if your card agreement says it’s okay to do. If you want to repair your credit score, you need to show creditors that you are serious about making payments on a regular basis.
If you have credit cards, make sure you’re paying off the entire balance at the end of the month. This will help keep you from getting into a spiral of debt. If you let your credit card bills start piling up, it becomes nearly impossible to pay them all off.
An important tip to consider when working to repair your credit, is the fact that until your credit improves, the chances of getting a new or newer nice car are slim to none. This is important to know because sometimes, it may be even harder to get a decent car than it is to buy a home. This all depends on the dealer and the amount of risk they are willing to take on.
As you can see from this article, repairing your credit is an attainable goal that can save your future. Don’t hesitate, apply these tips today to get your life back on track with a credit history that you can be proud of. Start on these steps now and repair your life!