Great Credit Repair Tips For People With Bad Credit

1. Great Credit Repair Tips For People With Bad Credit By L. Roberts BadCreditResources.com Everyone at some point in their lives has to get credit. Credit is needed to make high level purchases for expensive consumer goods. When people make purchases, but are not able to pay them, their credit score lowers. If you want to repair your credit, then follow these tips. Get Your Credit Reports If you are concerned about your credit, be sure to pull a report from all three agencies. The three major credit reporting agencies vary extensively in what they report. An adverse score with even one could negatively affect your ability to finance a car or get a mortgage. Knowing where you stand with all three is the first step toward improving your credit. Are you a victim of identity theft? Be immediately proactive if you feel that someone has used your credit illegally. Whether it is through attempted identity theft or fraudulent attempts by non-reputable creditors, these attempts can slip by without vigilance on your part. Take the time to research any report to your file and examine the source. Is Credit Counseling Right For You? Discuss your credit situation with a counselor from a non-profit agency that specializes in credit counseling. If you qualify, counselors may be able to consolidate your debts or even contact debtors to reduce (or eliminate) certain charges. Gather as many details about your credit situation as possible before you contact the agency so that you look prepared and serious about repairing your credit. Do It Yourself Credit Repair Only take a do-it-yourself approach to your credit repair if you're willing to do all of the work and handle talking to different creditors and collection agencies. If you don't feel like you're brave enough or able to handle the pressure, hire a legitimate credit repair company. When working to repair your credit, it's important to consider the different ranges that different reporting agencies use. This is important to know, so that you know the meaning of your own score. The main scores used are FICO: 300 - 850, Experian: 330 - 830, Equifax: 300 - 850, and TransUnion: 300 - 850. The higher your score, the better your credit. Once you fall below a 650, you will find it harder to get approved for loans or credit cards. When you drop below 600 you will only qualify for financing thru bad credit lenders. An important tip to consider when working to repair your credit, is to not forget to build credit. You should be actively adding a few new tradelines to your credit report if you have mostly negative information being shown. Ways you can build credit include: Applying for a secured credit card Companies like rental karma that will report your rent on your credit report Applying for unsecured bad credit credit cards that DO NOT use a hard inquiry

2. Realizing that you've dug yourself a deep credit hole can sometimes be depressing. But, the fact that your taking steps to repair your credit is a good thing. At least your eyes are open, and you realize what you have to do now in order to get back on your feet. It's easy to get into debt, but not impossible to get out. Just keep a positive outlook, and do what is necessary to get out of debt. Remember, the sooner you get yourself out of debt and repair your credit, the sooner you can start spending your money on other things