repairing credit

Helpful Tips for Repairing Credit Problems

Repairing credit problems is a task that will take time and dedication. With hard work and determination though, you can achieve your goal by using some tested, effective strategies. Our credit experts have compiled a list of straightforward tips and tricks to help turn your credit score around. Let’s get started!

Repairing Credit Is Simpler Than You Think

If you do these things, you will be able to fix your credit score much more easily.

Request Your Free Credit Report

While sometimes you will have to pay a fee to get access to your credit report, there are also ways to get a free look at your credit report as well. There are three major credit reporting bureaus, and they all have their own guidelines when it comes to requesting a copy of your credit report.

When you join with Experian, you can get a free credit report every thirty days. When you join Equifax, you get six free credit reports every year. TransUnion gives you a free look at your credit report every year.

It is helpful to get a copy of your report from each agency, because this can help you find any errors that are lowering your credit score. Generally speaking, the information in your credit report will be accurate, but mistakes do happen sometimes. When they do, you will know where to go to dispute them.

Dispute Any Credit Report Errors

If you do see any errors in your credit report, you need to dispute them as soon as you can. This is something that you can do online, over the phone, or by mail. Some people feel that the best method to dispute them is through mail.

By disputing your credit report errors through the mail you can include any supporting documents that will help prove your case. This will also help give you more documentation to support you if there are any future issues that come out of the error.

Settle Charge Offs

One of the worst things that you can do when you are repairing credit is allow for any charge offs to appear on your account. This is when you neglect to pay a bill for 180 days or more.

This will have a severe negative impact on your credit score and is one of the worst credit mistakes that you can make.

If you have an account that is approaching charge off status, you should contact the lender and see if you can renegotiate the payment to avoid this.

Most lenders will let you set up a payment plan and it is better late than never when it comes to paying these off. A settled charge off will have less impact on your credit score as more time goes by.

repairing credit score

Pay Down All Of Your Debts

If you have outstanding debt, this will have a bad effect on your credit score. If you are working on repairing your credit, you need to focus on paying down all of your debts as quickly as you can. There are a few ways to do this, but the most popular are the avalanche method and the snowball method.

The avalanche method suggests that you focus on your debt with the highest interest rate and pay that one off first. Then you continue paying off your debts in the order of which ones have the highest interest rate.

The snowball method suggests that you focus on the balance you owe. With this method you start with the smallest balance and pay that one off first. Then you focus on paying off your other debts in order of increasing balance.

Pay All Of Your Bills On Time

It can be tricky, but you also need to focus on paying all of your bills on time if you are serious about repairing credit. Your history of paying your bills on time is the single most important factor in determining your credit score.

If you get into the habit of not paying your bills on time every once in a while, this can have a disastrous effect that undoes all of the hard work that you have put into repairing your credit score.

bad credit title loans

Getting Help With Tennessee Title Loans, Inc.

Repairing credit is something that will take a lot of time and commitment. In the meantime, it can be hard to get help if you need to get emergency cash to cover an urgent expense.

If this is the case, one option that you can consider to get the help that you need is applying for bad credit title loans from Tennessee Title Loans, Inc.

If you are interested in getting bad credit title loans to help you cover your emergency expenses, there are just a few things that you need in order to get started:

  • Your driver’s license or another valid form of government issued photo ID
  • The lien-free title to your vehicle
  • Your vehicle for inspection
  • Your most recent pay stub to prove your income level and ability to repay the loan

Final Thoughts

It will take dedication to improve your credit score, but the benefits will change your life.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Daniel Dewitt

Daniel Dewitt is a lifetime blogger with a finely-honed ability to break down, analyze, and interpret economic trends for the layman. He's fiercely invested in spreading financial literacy and helping everyday people gain the tools they need for their own economic success.