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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| Image source: Pixabay.com |
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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| Image source: Pixabay.com |
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