If you had difficulty with paying bills in the past but you are ready to improve credit problems that you may have faced, there are a few steps that need to be taken in order to make sure that it goes well for you. Before we get started I want to let you know that fixing your credit is not going to happen overnight and it will take some time as well as effort on your part..
To get the process rolling you need to buy a copy of your current credit report and examine it for errors and negative information. This may seem crazy but it is an important step because a huge number of credit reports contain errors and wrong information that can hurt your FICO scores. While it may not seem like wrong information could hurt you it can so do not skip this step. One way that this can hurt you is if the credit bureaus are listing a credit account limit that is actually lower then your account really has. It gets really bad if the limit is reported low enough to make it look like you have used 50% of your cards limit because anything over 50% is looked at as risky and your scores will drop. You will probably also find old negative accounts that will also be hurting your scores. Most times it is easy to get this negative information taken off your credit report, you just need to dispute it. While it may sound complicated to do this it is really quite easy and a step that needs to be done when doing self credit repair It basically revolves around you writing a letter giving a reason why you disagree with the information listed. You must also include your name, SSN and account number in question. The credit bureaus will look into the matter with the original lender, if the lender does not provide proof then the information will be removed. This takes about 45 days to complete.
An additional step that will help you in your efforts to improve credit troubles is to lower the amount of consumer credit card debt that you are presently are carrying. If you can get your account balance to lower then 50% of the limit you will be in great shape. This is not always the most easiest thing to accomplish but with some effort and serious dedication you can make it happen. You will need to pay off the card with the highest interest rate first then work your way down and finish with the card that has the lowest rate. While it will not have a huge effect right off the bat it will pay off nicely in the long run.
One last tip that I would like to present to you will be that if you are attempting to clear up consumer credit troubles, don't get rid of all the credit that you have. As long as you use your credit cards the right way the will help your credit scores rise once you get them paid down.. If you think that it will be to hard for you to do this then cut the card up making it impossible to use the account. You should however have an emergency card that you can use to cover unexpected expenses like auto and home repair. Just keep the limit on this card low so you can pay it off as fast as possible.
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