These days, your credit score doesn’t just determine the rate of interest you need to pay for your house or your car. Credit now impacts the way we live.
We live in a world where a landlord will check your credit score to decide whether you can get that lovely apartment overlooking the park. Some employers will not accept an applicant below a certain credit score. This having bad credit could mean the difference between landing your dream job and slaving away in your current position. Now you might not think that’s fair but that’s the world we live in nowadays.
This only means if you currently have bad credit, repair needs to be done as soon as possible. The most convenient method to do this would be to find a credit repair company with significant experience and a good track record. If you cannot afford the services of repair company, no need to fret. Because you can employ effective bad credit repair techniques right now. And while it may not exactly be easy, it isn’t rocket science either.
1. Use Google or any search engine of choice for something other than looking for pictures of Megan Fox and run a search on the The Fair Credit Reporting Act or FCRA and familiarize yourself with it. I won’t lie to you, this isn’t fun. Far from it, but knowing the rules will help you raise your fix your credit.
2. Eliminate as much debt as possible. Try to get one of your credit cards down to zero. Then, and this is important, do not cut off the account. Having that available line of credit in the positive is a quick bad credit repair method.
3. Get a copy of your credit report. All credit bureaus are required by law to furnish you a free copy of your credit report once a year. You can even find sites that will provide you a copy online.
Find any negative information on your report and dispute them. Just remember that bad credit repair is a not a one shot deal. It’s a process that will take time and patience. So don’t shoot out all your disputed items all at the same time. When writing your dispute letters, resist the temptation to try and win sympathy by adding a sob story about why your payment was late or try to impress them with mumbo jumbo borrowed legalese. They really don’t care as much as you would like to believe. So please, keep it short and simple and adopt a professional tone. Successfully disputing negative accounts is a method of bad credit repair that has a lot of impact on improving your credit score.
There you go. Four things you can start doing right now! Add a few lifestyle changes, such as saving on consumption of utilities, and paying your bills on time, and soon enough, you’re on your way to successfully improving your financial situation.