Discovering that you have a bad credit score is never good news. Unfortunately, a negative credit status reflects on your job and of course your current financial status. So how to deal with it is the ultimate question. Can you do it on your own and follow a credit repair guide or should you just go through credit repair counseling and seek professional advice?
Both are delightful options but considering you are already near financial ruin, an expensive service fee isn’t a good idea. A credit repair guide can do your magic. You’ll find it amusing to learn the tricks to rebuilding a good credit score and until you’re debt-free.
Here is a brief credit repair guide for you to deal with that credit glitch stress-free. First is securing copies of your credit reports. You should know that you are entitled to free credit statements from each of the three credit bureaus such as these three top agencies TransUnion, Experian, and Equifax each year. Usually, the creditors only give your credit reports to a credit bureau where they have subscribed thus sending only one statement to one bureau only. So you must gather copies from the three major credit bureaus and make another set when you will start disputing the information.
Since all the reports given will most possibly have different statements, it is important for you to examine and organize all the information indicated. Errors are common because credit bureaus only generate the credit reports sent to them by creditors and not verify them. Look for everything such as outdated or incomplete information, payments that have been reported incorrectly, inaccurate account histories, charge offs, sent collections, and mere typing errors. Using highlighters or pens can be of great help when you have to emphasize what you need to repair.
After this, max out over the credit limit accounts so you can now start deleting erroneous data. You must send photocopies of your credit reports with mistakes encircled. Send it along with supporting documents to the reporting credit bureau which will be investigated within 30 days. Any record not verified by the creditor will be removed. If changes have been made then an updated copy of your credit report will be delivered to you.
Now you are aware of the monthly bills, you will have to it all balance out. The deal will debts assiduously and then decide how to keep your positive credit score. However, be careful when closing an account when you would want to limit using credit cards/loans since it can give you a negative impact called a FICO score. Fabricate a solid credit history and open a savings account that may show your creditors that you are saving.
Now the tricks of the credit repair guide have been revealed to you. All you have to do is to follow the steps one by one and you’ll get that control back into your life. Do not be afraid of dealing with your debts again and make sure you maintain good credit. It is because handling debts is an everyday ordeal and dealing with it well secures you a stable financial future.