Credit Repair Is A Matter Of Time And Patience

credit repair

The best part about finding a third party credit counselor to tackle your credit repair is that you won't feel so alone. It can be overwhelming, frustrating and embarrassing to find yourself knee-deep in debt. Sure, you could repair your credit on your own by reading a few books, buying software, calling and negotiating with creditors, or making an organized checklist of priorities. However, you may prefer the "we're-in-this-together" feeling of working one-on-one with a debt reduction professional who can ensure you're doing your best to pay off old debts and wipe the slate clean with a newer, positive payment history.

If you're wondering how to bring up a low credit score, then you'll be happy to know there are a plethora of ways to do so. First, check your free credit score at www.annualcreditreport.com, and be sure to look up one from Experian, one from TransUnion and one from Equifax. Once you see what you're dealing with, you'll know where to begin in the quest to repair your credit. Next, pay off all your debts, starting with the highest interest credit cards first. If you need help with this area, then you may want to consult www.cccservices.com. While you're paying these off, it's important that you do not close your accounts, as it will look like you're using a larger portion of your available credit. Thirdly, look into getting what is known as "good debt," such as a mortgage, a school loan, a car loan or a self-financed installment loan; anything that will show you can be trusted to pay a monthly bill again.

One way to re-establish good credit is to secure one of the credit cards for people with bad credit. You need to exercise caution while looking over these credit repair offers, as there are obviously many scams preying on the poor. An unsecured credit card paid each month on-time and in-full is one of the best ways to demonstrate the "new you," the one who can be trusted with a loan or line of credit. At www.credit.com, there are a number of offerings from Visa and Mastercard for people with low credit scores. Some of these interest rates are as low as 9.9% or as high as 19.92%, so naturally you'll have to weed through the lot of them for the best deal. This option should only be exercised if you can be disciplined enough to use it only for credit repair purposes. Maybe you'll use your card to buy gas each month or you'll pay for your cell phone bill each month, using your bank's auto-bill-pay to ensure that you never make a late payment or miss a payment.

If you're having trouble paying your bills, then you're not alone. According to www.cccservices.com, 30% of Americans are having trouble paying their bills. Did you know you could lose as much as 100 points from your credit score by missing one monthly payment on a credit card or one utility bill? Thirty percent of your credit score is comprised from your payment history, so credit repair requires paying your bills on-time. You may be wondering "What about those credit repair companies?" For people with insurmountable debt, going through Consumer Credit Counseling Services is probably a good idea. You may pay a little more in the long-run, but your life will be more manageable today, allowing you one monthly payment, debt settlement deals and a solid financial plan.