In the United States, as well as many other countries, there are laws in place allowing people to mount disputes regarding their credit reports if discrepancies are found. This can salvage your credit score, which is largely based on the results of one's credit report. Repairing your credit score can be a simple thing, provided you have proof to back up your claims.
Given the importance of good credit, diligence dictates that you follow a methodical way of reporting the inaccuracy and providing supporting documentation so that the repair process goes quickly and efficiently. You just can't call the credit bureau in disgust and start hollering at the clerk about the mistake. While a wrong credit report does make one angry and frustrated, that's no reason to let off steam. Follow the steps below and adhere to the rules.
First of all, stop applying for credit cards and don't attempt to open any additional lines of credit. This will only hurt your credit score, exactly what you don't need if your score is somewhat shaky.
Bills should be paid promptly; skipped payments will lead to you being backed up on bills and at risk of not being able to pay, further damaging your credit. Even though there may be no immediate consequences for skipping a payment, it may come back to haunt you later.
Keep your credit card payments at a level higher than the minimum payment. Don't overextend your credit limits, your score will thank you later.
Debt consolidation may be a good idea. If you are paying on many debts, the varying interest rates on these debts may be costing you more than you think. Seek some advice from a financial planner on this, it is definitely convenient and may save you money.
Pay with cash, if possible - lots of people walk around with heavy-duty plastic in their wallets. Dare to be different. Take the cash out and pay for your merchandise and services with it.
Try to build a relationship with your bank and other financial people involved. With a bond of understanding and trust built, your financial service providers may be more willing to give you a break on minor credit issues.
Credit is both vitally important and easily damaged. Don't put off doing what needs to be done to repair bad credit. Keep current on your payments and keep records - you can then send these to credit bureaus.
Keep this in mind - if you find a problem on your credit report, make sure it gets fixed!
Given the importance of good credit, diligence dictates that you follow a methodical way of reporting the inaccuracy and providing supporting documentation so that the repair process goes quickly and efficiently. You just can't call the credit bureau in disgust and start hollering at the clerk about the mistake. While a wrong credit report does make one angry and frustrated, that's no reason to let off steam. Follow the steps below and adhere to the rules.
First of all, stop applying for credit cards and don't attempt to open any additional lines of credit. This will only hurt your credit score, exactly what you don't need if your score is somewhat shaky.
Bills should be paid promptly; skipped payments will lead to you being backed up on bills and at risk of not being able to pay, further damaging your credit. Even though there may be no immediate consequences for skipping a payment, it may come back to haunt you later.
Keep your credit card payments at a level higher than the minimum payment. Don't overextend your credit limits, your score will thank you later.
Debt consolidation may be a good idea. If you are paying on many debts, the varying interest rates on these debts may be costing you more than you think. Seek some advice from a financial planner on this, it is definitely convenient and may save you money.
Pay with cash, if possible - lots of people walk around with heavy-duty plastic in their wallets. Dare to be different. Take the cash out and pay for your merchandise and services with it.
Try to build a relationship with your bank and other financial people involved. With a bond of understanding and trust built, your financial service providers may be more willing to give you a break on minor credit issues.
Credit is both vitally important and easily damaged. Don't put off doing what needs to be done to repair bad credit. Keep current on your payments and keep records - you can then send these to credit bureaus.
Keep this in mind - if you find a problem on your credit report, make sure it gets fixed!
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