Handy Ways To Repair Bad Credit

Credit repair isn’t hard or impossible. It can be done with time and the right steps – as well as the resolve to borrow money on affordable terms and without courting financial disaster. Here are some tips to mend bad credit and improve credit score.

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For starters, review those credit reports with diligence. Now is the right time, so ask from the credit bureaus such as TransUnion, Equifax, and Experian. You may also use a free online service, where you can see your credit scores after signing up and view pertinent information.

Once you have those credit reports, read through them thoroughly, taking several days if necessary. Become familiar with the details contained there, particularly the types of information you’ll need to repair such as incorrect information, past due accounts that are late or charged off, and maxed out accounts that are over the credit limit.

Exercise your right to dispute any inaccurate, incomplete, or unverifiable information in those credit reports. Disputing online is typically faster and easier to do but leaves you with no paper trail, although you can take screenshots of the dispute.

Decide if you want to play the game of some credit repair companies. Once you have decided which way to go, start playing down outstanding balances, which could be difficult to pull off as a short-term strategy to increase your credit score but should be necessary in a long-term financial plan. It will also prevent you from paying as much interest.

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Consolifi is a debt resolution company with the objective of assisting consumers in breaking free from their debts permanently. Learn more about financial wellness on this page.

Financial Advice For Millennials, How To Avoid Credit Card Debt

Millennials have it tough. From the challenging job market to less desirable housing options, not to mention paying off student debt, young folks have to constantly wrestle with their finance. And with credit cards, it’s sometimes a losing battle. Here are some ways on how to avoid credit card debt.

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Avoiding unnecessary purchases is always the top tip people can give millennials with credit cards. This is one problem shared by everyone. Buying things one wants but doesn’t necessarily need can rack up on credit card debt and get out of hand. A good rule of thumb is to ask yourself if you can pay for the item using cash. If the answer is no, do not buy.

Paying on time saves users from nasty fees. New users could easily mistake these fees as simply one-time items like a separate purchase. However, late payments can hike up one’s interest rate if it becomes habitual. Not only does this result in a bigger debt, but it also damages one’s credit rating.

Never lend your credit card to anyone without your supervision. You may be disciplined in how you use your card, but maybe your friend who’s in need doesn’t have as much restraint as you. And keep in mind, on the off chance they don’t pay you back, it’s your credit ratings that suffer.

Lastly, limit the number of cards you have. People who use multiple cards can have problems tracking which one needs to be paid off. Overdraft issues are also common for multiple card holders.

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Consolifi is a debt resolution company that gives clients solutions to permanently manage outstanding debt. To know more about its services, visit this website.