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3 Quick Bad Credit Repair Tips

April 3, 2013 by  
Filed under Blogs, Credit Repair

by: .

bad credit repair

Fixing your credit is one of the most important journeys you may ever embark on. The impact good credit will have on your credit and your life is simply unquantifiable.

Here are 3 quick tips to follow while repairing your credit:

#1: Pay Down Your Credit Cards

30% of your credit score is calculated from how well you use your debt. Concentrate on paying down your high interest credit cards and you will not only save yourself money but also increase your credit score.

#2: Keep Your Accounts Open

15% of your credit score is calculated from length of history. This mainly focuses on the average age of open accounts. Keeping your oldest accounts open and active will lengthen your credit history and increase your credit score. But don’t forget the flip side of the coin, opening new account will shorten your average account age and lower your credit score. So keep your old accounts open and limit yourself on opening new accounts.

#3: Pay Your Bills On-Time

Your payment history accounts for 35% of your credit score. Even if you have had issues with paying your accounts late in the past, it’s not too late to turn your credit around. Make a decision to pay every one of your bills on time from this day forward.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

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5 Simple Credit Repair Tips

by: .
credit repair

Improving your credit score doesn’t necessarily have to be overwhelming.

You can begin to take control of your life and your credit by following these 5 easy tips:

1. Pay your bills on time

I know it may seem commonsense, but this needs to be mentioned. The most important step in improving your credit is paying your bills on time. A recent late payment can drop your score 60-100 points, so do yourself a favor and pay on time, every time.

2. Don’t Co-Sign for Anyone

It’s difficult to say no, especially to close friends and family. But if you’re going to improve your credit, you can’t risk someone else ruining all of your hard work. If your friend can’t qualify for a loan without a co-signer, maybe they should work on fixing their credit instead of putting your credit in jeopardy. Fixing your credit is all about taking control, you can’t control whether someone else is going to pay their bills or not, so don’t co-sign for anyone.

3. Keep Your Balances Low

Don’t let your credit card balances sink you. Paying them down doesn’t just make financial sense, but also improves your credit scores. 30% of your credit score is calculated from how well you manage your credit and your available utilization rates. So pay down your credit cards and watch your scores improve.

4. Limit Your Inquiries

Every time you apply for credit an inquiry shows up on your credit file. Applying too often lowers your credit score and makes you look desperate for credit. Limit yourself to one inquiry every 6 months.

5. Be Proactive

If you have derogatory accounts on your credit report, be proactive. Don’t sit around waiting for for 7-10 years for them to fall off your credit history. Get involved, contact the creditors, the credit bureaus, collection agencies, third party furnishers.

Investigate the information in your credit reports and get everything verified, validated, checked, re-checked. Do some research, read a few books, learn about how the credit system functions, and most importantly learn your rights.

You are protected by the FCRA, FACTA, FDCPA, CROA, and many other laws.

If you don’t have the time to do all of your own due diligence, hire a reputable company to represent you and fix your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review