3 Must Do Steps to Repair, Rebuild, and Protect Your Credit
Have you ever been trapped by acute financial misfortunes resulting from a bad credit score?
All the same, you are not the only person presently going through it. One of the biggest victims of financial crisis and economic recession is your credit score.
Sadly enough, your credit score can determine not only the credit you get and at what interest rates you'll pay, but it can affect your insurance premiums adversely and your ability to secure a job.
It is a big problem that bothers the minds of victims, and someone wonders how they could rebuild or repair their credit after being bankrupt. Find below some of the must follow steps:
1) Ensure to fix any errors in your credit report. It's bad as much as necessary if you ever made your mistakes in the past, but you wouldn’t want to be punished for the error you didn’t make. Get a free copy of your three credit reports every 12 months and correct any errors you find that could be damaging your score.
2) Catch up with any default or missed payments. If the problem was caused by encountering a problem during payment with your payment processor, work out a payment plan with your creditors to avoid future occurrence.
3) Ensure that all your payments on any debt, rent, and utilities are paid promptly in order to build your credit score. This will also assist you in getting the trust of companies who will be ready to give you a letter of recommendation when you plan to apply for any credit.
Evidently, you can't maintain or build a positive credit history if you don't have excellent credit rating. It is a fact that it takes credit to build and get credit. You can begin by opening a secured credit card and start depositing money that is equal to your credit limit savings account so that the bank can collect any payment you miss to pay. This will drastically eliminate the issue or event of missed payments.
It’s a truism, no matter how much money you have in the bank, if you have bad credit, you’re going nowhere fast. To avoid being victim, click here to download your free copy of 10 Simple Strategies To Finally Boost Your Credit Score.
I'll be going over the very specific steps that will take you from no credit or bad credit to good credit.
Cheers to Better Credit!