Help Repair Your Credit With These Great Tips!

Do you find that issues with your credit score prevent you from sleeping? The advice

provided here will help you fix your credit and ease your mind.

The first thing you should do when trying to improve your credit is develop an effective plan

and make a commitment to adhere to it. You must be committed to making real changes in

the way you spend money. Purchase nothing but the essentials. Put each potential purchase

to the test: is it within your means and is it something that you really need?

If you have a poor credit history and can't qualify for a credit card, get a secured card. In

order to get the card, you will have to fund the account as sort of an insurance that shows the

bank your debts are going to be paid. If you use a credit card responsibly, you will go a long

way in repairing your credit.

Look at the credit card accounts you have with a balance over 50% of the credit limit. Pay

those off until they fall under this number. If your credit card balances exceed 50% of their

limits, it will lower your credit score, so spread your debt over multiple cards, or better, pay

down the balances.

Consumers should carefully research credit counseling agencies before choosing one with

which to work. Many counselors are on the up-and-up and are truly helpful. Others just want

to take money from you. Some will try to cheat you. You should always find out if a credit

counselor is the real thing.

Make sure you research a credit counselor before you visit them. Many counselors are

honest and helpful, but others may be less interested in actually helping you. There are a lot

of people out there that are trying to take advantage of those who are down on their luck.

You should research any counseling service you are considering prior to initiating

communications with them.

Make sure that you pay more than the minimum balance owed on all of your credit cards to

improve your credit. Work on paying off credit cards that have the highest interest rates or

high balances. This action will show creditors that you are being responsible with credit.

Make sure you review all of the negative marks against you on your credit report. While the

credit item itself may not be in error, if you can find a mistake in the date, amount, or any

other factor, you may be able to have the whole item removed from your report.

Dispute every error you identify on your credit report. Draft a dispute letter that will go to each

credit rating agency that shows an error, and prepare any supporting documents. Send any

correspondence by recorded mail to ensure proof of receipt by the agency.

Live within your means. This might require a re-thinking of your lifestyle. In the not too distant

past, credit was easy and people could stretch themselves too far, but now the economy is

paying the price of those days. Take a hard look at your financial situation to come up with a

realistic spending plan.

Investors