When you think about your credit repair situation, do you always see yourself at a desk confessing to a professional about your credit habits? Is credit repair something that you absolutely don't see yourself handling on your own? Well, with this article we have the goal of trying to talk you out of it a little because it's indeed possible to handle the credit repair process entirely on your own, only if you follow a few guidelines though.
Surely, the first step is to get your credit report, and learn to do that for free and from home if possible. Learning how to get your hands on a full official credit report is essential to getting your credit repair started. With your credit report, you can check on all the information and act on it. The first step to handling your credit repair on your own with your credit report is to check for any mistakes. If you find some, you can initiate a dispute yourself and immediately improve your credit situation this way. Then, once that's done you need to move on to the accounts that are above their normal limit.
Quit triggering the limits alert
These overloaded accounts generally represent a big portion of what is making your credit score so bad and sending you into needing credit repair. Bring these amounts back to a normal level (perhaps start with 50% of the limit and if possible bring them down to 33% of the limit) and don't make them go back to an excessive level if possible. Don't lose the progress you've made at all cost.
Now for the late payments
Then, it's the late payments you've been dragging along that need a fix. When doing your credit repair yourself, it's very important that you take all the data and prioritize the right accounts. Figure out which accounts are hurting your credit score the most and work on them first. Don't hesitate to spend time on the phone negotiating a few payment arrangements if needed. In this case, you're acting as your own negotiators so don’t neglect this job.
Laying a pattern of new healthy credit
And finally, no credit repair is complete without applying for some new credit conservatively and managing it correctly. Only you know when you're ready to take on some new credit responsibly, and that should come after a few responsible action steps on your end. Your credit reputation isn't only about how rich you are, but how you can manage that resource. In other words, you constantly take on what you can handle and pay back on the creditors trust you for that. This is what credit repair is about and this is the mentality you should have after you've repaired your credit yourself. And the good thing is, once you've made the effort to repair your credit yourself, you have a much better understanding of the dynamics of credit and what could send you into the need for credit repair in the future. That's surely an advantage compared to going up to a professional and simply doing, and paying, what you're told.