Bad Credit Rating

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Bad credit can create problems in your life in numerous ways. A poor FICO credit score rating can block you from getting a credit card or drive up the interest rate on any credit line you do receive. It can increase the amount of deposit you need for utilities, down payments on loans, or even stop you from renting a place to live.

Sometimes life’s circumstances put you in situations where your credit score takes a hit. Your credit report will reflect the actual payments you’ve made, but it never mentions any unique circumstances that may have happened to you.

One thing is for certain, you need to know what the score is on your credit report, and repair bad credit swiftly. Here is how you can accomplish the goal of fixing your credit rating …show more content…
They can take months to change, and then take more time to alter your current score. The first way to begin repairing your credit is check every single item on your report for accuracy. Then, check your score frequently to make sure it contains accurate information. There is a process you need to follow to report errors, so start with this step immediately.

Clear Up Bad Credit and Collections

This may be the most difficult step for some. It could actually involve professional advice. If your credit rating is bad because you have charges written off or sent to collections, you need to correct these problems. Sometimes it may involve filing bankruptcy, but it doesn’t have to.

When you’re faced with an imposing number of bad marks on your credit report, seek the advice of a professional agency. There are steps you can take to bring your payments back in line without filing bankruptcy.

Make an effort to get debts that are in collection revisited by the creditor, or strive to satisfy the bad debt claim. This can take time, but it is essential to increase FICO score numbers on your report. This is an important step in your quest to repair bad …show more content…
Again, you can seek the advice of credit repair agencies, but much of the job to repair your bad credit will be your responsibility.

You can do it by following a few simple suggestions. Here are three steps to begin the process to increase FICO score numbers, which will start you on your way to repairing bad credit.

• Begin Your New Credit Life – Depending on how much damage you’ve done to your credit standing, this step could be more involved. However, no matter at what level your score is now, you must start somewhere. Do not haphazardly start applying for credit.

This can actually do more harm than good. Go for a secured credit card first, one that you are guaranteed to get. Sure, it’s little more than a debit card where you maintain a balance, but these cards do update your report.

• Keep Records – If you weren’t diligent in keeping payment records in the past, start now. Keep a detailed accounting of all your payments. Include due dates and the date you paid all your bills.

This will prove as an account record for any future errors, plus it begins to establish good credit responsibility. Since a missed payment can set you backwards, this will also keep you timely in your
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