7 Ways to Repair and Rebuild Really Bad Credit
There are always going to be more new ways you can go about repairing and rebuilding your credit than you can even imagine, especially when you have really bad credit. The trick is to figure out what to do in your situation and what can help you with your budget and your history to move up the credit score scale and get your life on track. This list is a good way to see what might apply to you, but it is always a good idea to consult a credit counselor at a non profit organization if you have bad credit or are in debt so that you can get another set of eyes to look over your situation.
1. Get a copy of your credit report! No plan for repairing or rebuilding your credit is complete without a look over your credit report.
2. Look over your budget. If you do not have one, you need to make one. You want to have your credit report and your budget written out and on the table when you go to make a list of how you plan to improve your credit score range.
3. Save up an emergency fund of at least fifteen hundred dollars. This way you will not end up charging up debt if you suddeny need new tires or have a dental emergency or anything else comes up.
4. Get a secured credit card. Use this card lightly and pay the balance off in full each month so that you are not wracking up debt and are building up a history of on time payments.
5. Pay down your debts. This is always the thing you can do that will have the biggest impact on your credit report.
6. If you have an old credit card that is not showing up on your credit report because you have not used it in a long time dust it off and use it lightly to try and help age your report. This is a small factor on your credit report, but every little bit helps.
7. If you have old late payments on your credit report on an account that you are still with have made your payments on time with them since write them a good faith adjustment letter to try and get the late payments removed from your credit report. It can’t hurt you and will not take long to try.