One of the biggest challenges for most people when it comes to credit repair is to actually get things going. We always have the opportunity to postpone things a little more, and that ends up hurting us a little more in more interests and late fees. Therefore, the best you can do is to take the first step immediately, no matter how small it might be.
Check for Accuracy
Before you start your credit repair, make sure to get your credit report and dispute any errors and inaccuracies you may find. Credit repair can be a lot of work, so you definitely don’t want to work on problems that you didn’t create. No matter where you order your credit report, be it Equifax or other reputable credit bureaus, there are always chances that you might get some errors. It’s important that you take the time to verify everything and request all the necessary modifications. Your credit report lands in so many hands and influences so many things in your life that it’s important that it’s accurate. If not, companies and lenders will mistake you for being a non-creditworthy person. If some payments are noted as late while you paid them on time, or that a creditor is wrong, get it fixed. You can do that by phone, mail or even online in some cases. Send it over as soon as you can as it might take time to receive an answer and get your proof together.
Being Selective – Start Pay Down
Once that’s done, it’s time for credit repair which starts with knowing what to fix. Like we said in previous article in this section, late payments and debt are the two things that hurt your score the most. Whenever you have some money available to get your credit repair going, put it on late payments or reduce the balance on your credit card to about one third of your limit. Then, once those areas have been improved, move over to any judgements or loans for studies you might have unpaid. What’s good is that all these areas are within your control. If you’ve had bankruptcy, foreclosure or tax troubles, then there isn’t much you can do about those. Yes, it’s true they hurt your credit reputation quite heavily, however paying your creditors on time from here onwards on-time will establish a new pattern and that new pattern will start to weigh heavier in the credit scoring formula in-time.
So finally, if you can, start repairing your credit yourself and see what you can pull off. And if you think you can’t handle it, then you may turn yourself towards one of those ads you see on TVs. There are experts that you can use for credit repair that have worked great for other people in the past, be sure to ask for references and check them across the BBB. Sometimes too many creditors and credit troubles are too much to manage for a single person, and an expert can help you put it together step by step. Whenever you have an unpaid account or late payments, interests accumulates and starts to hurt you in different ways. Watch your credit report and determine how that’s actually going to happen and what would be the worst case scenario. Get your errors fixed and reduce your late payments and at least pay your minimum due on your bills first, as those may be critical factors for you to live on for your present situation if you need to maintain credit,