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Some Easy Ways on How to Fix My Credit


Some people may have difficulty in paying of their debts most especially those incurred through their credit cards. I was also caught in this situation but I was able to get through it by following some tips on how to fix my credit.

A credit report is one way to start. credit repair You need to request a copy of your credit report from any of the credit bureaus. Check for errors and immediately call the bureau and the credit card company if there is one. It’s your responsibility to fix the discrepancies in your credit report.

If your debts are too high, you may contact one of the many nonprofit credit-counseling organizations to come up with a debt consolidation plan. During this time, a counselor will help you in consolidating your loans. Your counselor will also be the one to contact your debtors and negotiate to reduce or eliminate your finance charges.

By doing so, your monthly payments can be lessened to up to 40%. Cooperate with your counselor to pay off all your debts. In addition, start re-establishing a good credit by paying your rent or mortgages on time, staying in the same residence and job, making and sticking to your budget and maintaining your checking and savings accounts.

Close all your credit accounts and cut up all your cards. As much as possible use cash cards or debit cards for your purchases. Buy only those that you need and use your savings to pay off your debt.

Start paying your debts. You can either close the small loans first, so that you have less financial institutions to negotiate with. Or you can start paying off those with largest interest rates. You need to start paying off the principal of the loans.

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