Improve Your Credit

Having challenged credit in this day and age is costly and can be stressful, but it's not an end all. Bad credit won't plague you forever if you don't give up hope, and you are willing to do something about it. There are things you can do right now to begin improve your credit score.

You must stop using almost all your credit cards.

Making credit card purchases and accumulating more debt is not the right thing to do in a bad credit situation. You are literally digging yourself deeper into debt. Put your credit cards away until you have more control of the situation.

Next get a copy of your credit report

You must retain a copy of your credit report from each of the three major credit bureaus to find out which accounts need work and which are just fine. This is simply because you cannot begin to repair your credit until you know exactly what areas of your report you need to work on.

Clean up your credit report

Most credit reports contain unnecessary negative information. If your credit report does in fact contain incorrect information, then you have the right to have those items disputed and removed. Your credit report will include information about disputing inaccurate information with the credit bureaus.

Catch up on delinquent accounts

Your credit report has different areas. Of those areas, a huge chunk (35%) is determined by your payment history. Delinquent accounts will have a severe impact on your credit, but once they are made current, by consistent (over the minimum on time payments) it can positively impact your account a lot as well.

Do not put in any more credit applications

Think of your credit as being under construction at this point. As we all know, when there is construction going on, we don't want anyone snooping around the premises that aren't here to help. So as long as your credit is under repairs, you should avoid making any more applications for credit. More than likely that you will get turned down for credit and the applications will only decrease your credit score.

Keep accounts with balances open

You may be tempted to close out credit card accounts that have become delinquent, but beware, because doing so will most times negatively affect your credit. Don't close any cards with a balance or available credit. Do not close your card if it is your only card, or your oldest card (newer borrowers are riskier in lenders eyes) By all means, keep the credit card that has the best terms open.

Call your creditors

As much as you would hate to communicate with your creditors, you might be surprised to find that you will receive help from them. Many creditors have temporary hardship programs that will reduce your monthly payments until you can get back on your feet.

Pay off your debts

30% of your credit score is made up of the amount you owe. So paying off your debts will improve your credit situation. If you don't have the money on hand, then cut back on some poor spending habits (cigarettes, stay in some weekends instead of going out, cook instead of fast food etc) to speed up the process. It will be a sacrifice, but the financial freedom you gain from being able to leverage your credit will be worth it.

Seek professional help

Resources, like consumer credit counseling, are available to assist you. If you are overwhelmed by your credit situation, seek professional assistance. You can locate a credit counseling agency on the world wide web. I personally deal with Financial Destination Incorporated. Credit Repair is only a small part of what you can learn from them. They teach you to leverage your credit, and how to change your mindset so that you will not continue the cycle and return to having challenged credit.
for further information go to www.fdirep.com/124952

Please remember to be patient.

Most things under the sun worth waiting for are worth having. Your credit wasn't damaged overnight, so don't expect it to improve in that amount of time. Stay in touch with the creditors and keep at the foregoing tasks and over time you will see an improvement in your credit.
That's all I have for now
God Bless you all