There is no simple way to go about cleaning your credit report, it just takes diligence. The tips to help you repair bad credit we will discuss will take time. As, many people fall into the trap of thinking that there is some sort of magical short cut to clearing their credit report.
Sadly this is simply not the case, and despite all the amazing claims made to clear your credit and give you great credit, the only way to clear your report of bad entries is to simply pay them all back.
If you feel bad simply because you can’t meet your bills expectations at the moment they arrive, then you are not alone. Even the best of us are struggling to meet some expectation that the system has placed on us.
We calculate weekly the amount we spend on groceries, which are constantly increasing, as well as other bills that are constantly on the rise.
It seems at times it is a no win situation, but the fact is there is always a solution to most problems.
The problem most times is some of us do not have the means to find those solutions.
Staying ahead of your payments each month can help you avoid bad credit. If you research the marketplace before coming to a purchasing decision, you are well on your way to avoiding bad credit and repair credit hassles.
You want to consider all applications, including credit cards, student loans, mortgages, and car loans carefully to avoid being overcharged. Making the wise decision ahead of the game is the ultimate solution to maintaining good credit.
If you trying to re-build your credit status you need to find the resources that can help you get results.
The marketplace offers credit repair kits, which can lead us in the right direction to repairing credit, but the disadvantage is that many of the kits are expensive. Let’s face it, not everyone has the money to spend on products that claim to help us.
Some of us struggle harder than others just to survive. Life is forever changing and in order to keep up with the changes we all have to find a solution.
The first thing you should do is cut back on your credit card use.
You will have to stop spending so much so that your repayments can start to go back to reducing your balance rather than just keeping it where it is.
If you think you will have trouble cutting back on your spending, then perhaps you should think about removing your credit cards from your wallet or purse, and leaving them at home. An even more drastic step is to cut them up.
You should also make sure you are making more than the minimum repayments. Making minimum repayments will never clear the debt, or at least it will take you a very very long time.
What you should do is make as much above the minimum payment as you can afford, concentrating most of your repayments on the cards with the highest interest rates.
If you are having real difficulty meeting repayments, then you should perhaps consider contacting the credit card company. Tell them of the situation and ask them if they can do anything to help you.
First, get a free copy of your credit report.
This is better than an agency, since you can do it yourself. The credit reports are also available from the three major credit reporting agencies, namely,
Experian, Equifax and Transunion. They are also on the internet, and you should download all the reports from each of them.
Scrutinize each transaction listed, and compare them with your stubs of spends and payments.
Should you find any discrepancy or have a doubt, contact the credit agency and ask for clarification or corrections.
This requires immediate attention and action to help yourself in beginning to repair your bad credit. Set up a timeline after reporting it to the credit agency, and check with them again.
Exert your right to get your doubts removed within a specified time frame.
If you still find you have bad credit, you should seriously monitor your spends. Plan your finances in a manner by cutting down other spends, paying up to the credit agency, the full amount due. Often, the credit agency may give additional time, if you have a problem, but that adds to your expenses.
In talking to the credit agency there is a good side. By approaching them, you are conveying your seriousness to repair your bad credit. It is appreciated by them. This saves them time and effort. You must however ensure that you keep your word.
If you do not see a way out, then you may want to go this route to repair your bad credit.
In most cases, you can do a Pro Bono Bankruptcy, which means you will represent yourself in the courtroom. I just wanted to let you know that if you file a Chapter 7 Bankruptcy, you will have monthly installments to make, but if you file Chapter 13 Bankruptcy then the courts wipe out all your debts.
The problem is that bankruptcies remain on credit files for up to ten years or longer. If you can avoid bankruptcy do so, however it is not the end of the world if you do.
I know people personally that filed bankruptcy and was able to get loans for mortgage, cars and so on. If you know what you are, doing you can do anything no matter how bad your situation is.
Avoid Debt Consolidation, simply because it is means you will be paying fees and costs to others to get out of debt, which only adds up the bills. You might want to consider a Debt Counselor from a respected organization. It makes sense to check out any business first before spending money or asking for services.
The BBB offers free information on organizations, businesses and corporations.
Once you have investigated the service then you will know if the people are really trying to help you. Any service that tells you they can get you out of debt in no time at all is pulling your leg.
The fact is even when you pay your bills your credit will continue to list all the bad debts. The report will only say after the debt listed – Resolved.
It is important to get copies of your credit reports from TransUnion, Equifax, and Experian. You can find any information you need online.
Knowing your status is life is one of the tips to help you repair bad credit.
Are you ready to find financial freedom? If so, check out the companies recommended to you by Inker Street Consumer Credit Advice.