воскресенье, 6 ноября 2016 г.

How to Repair Your Credit

How to Repair Your Credit


How to Repair Your Credit


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Five Parts:Repairing Credit Quickly to Make an Immediate ImpactChanging Your Money HabitsLearning Your Credit ScoreRepairing Negative Information on Your Credit ReportBuilding New CreditCommunity Q&A


We all know that good credit is important, but most people struggle from time to time with too much debt, loss of income, or other financial emergencies. Collection agencies start entering the picture when payments are late or incomplete. People often file bankruptcy hoping for a new start, only to find their future credit is negatively affected for seven or more years. Understanding how to repair your credit is a far better alternative emotionally and financially.


1 Review your credit reports for accuracy. Your report may contain inaccurate information or might be missing important credit information. Contact the credit reporting agency in writing immediately to fix any errors. Be sure to provide complete and necessary information so that the agency can complete an investigation and repair any inaccuracies.[1]


The credit reporting agency is required to investigate and respond to your dispute, usually within a 30-day period. If a correction is made, the creditor must notify all three credit reporting agencies so their files can be changed.


2 Set up automatic payment reminders. Paying your bills on time is the most important factor in figuring up your credit score. Setting automatic deductions from your banking account for house and automobile payments, utilities, and credit cards will help you make timely payments. If auto payments aren't possible, set payment reminders on your calendar or budgeting software.[2]


Make sure to coordinate your future income deposit dates with your automatic withdraws before you set up auto payments. For example, if you are paid on the 1st and 15th of each month, set the automatic payments to be disbursed on the 4th, 5th, 6th, 17th, 18th, and 19th of each month.


3 Stop using credit cards. This is usually the most expensive of debt type, the easiest to use without thinking, and the source of aggressive collection efforts. Keeping zero or low balances on your credit cards will save money and increase your peace of mind. Use cash or your checking account debit card for irregular purchases, keeping your credit cards locked up securely at home.


Don't cancel your credit cards. The debts are not canceled, and your credit report will suffer because there's less available credit as you pay off the debt. If you decide that some credit cards must be canceled, choose the ones with the shortest history.[3]


Original article and pictures take http://www.wikihow.com/Repair-Your-Credit site

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