Jaime Charouf Blog: Make Your Bad Credit go away!

Make Your Bad Credit go away!

Make Your Bad Credit go away


Credit ReportIt is not uncommon for people to have the need to fix their credit. The below article will demonstrate ways to increase your credit regardless of what it is.


First of all, you have to know your actual credit score. Many different sites can give you your score, and some will do it for free. Knowing where you stand in the credit world is essential when beginning your repairs.


Develop a payment plan with a creditor. Having a payment plan will help save you money. Pay off the creditors who will not work with you to settle your debt first.


After going over your report, note any of the negative information you uncover. Everybody makes mistakes and credit scores are not 100% guaranteed right. That's why you should check for mistakes and unfair charges. It is important to identify these errors so that you can fix them.


You should always be informed about your rights and your state laws concerning collection agencies and their practices. For instance, not paying your bill is not a reason to send you to jail. There are laws that vary state by state, but you are always protected from unreasonable threats and verbal abuse from credit agencies. Make sure you know what your rights are.


You must keep your credit card balance beneath 30%. Your wallet will thank you if your balances are low. You will pay higher amounts of interest on a high balance, which makes it more difficult to pay off.


You can try to see if you can set up a payment plan for the bills that are already in collections. You can try doing this before the bills are in the hands of debt collectors. If you keep avoiding collection services, you risk worsening your problem. Talking to debt collectors allows you to work out a payment plan. Honesty is the best policy when making arrangements for repayment. They may be able to adjust your payment plan to make it more manageable or may even lower the amount that you owe. If you are upfront with creditors, they may work with you.


Follow these suggestions if you want to fix your credit score. You can start fixing your credit on your own.


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Jaime CharoufCDPE, REO, Loan Originator, Financial Professional, Broker/Owner



















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Comment balloon 1 commentJaime Charouf • August 24 2012 09:32AM


Good advice on how to repair your credit.

Posted by Schuylkill Appraisal Services (Schuylkill Appraisal Services) over 8 years ago