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Guidelines to help you repair your bad credit score all by yourself…

By: Diana (Credit Resource Staff Writer)
If you are unable to make your bill payments on time, it gets listed as negative items on your credit report. Exceeding credit card balances also have a negative impact on your report and lowers your credit score. In this situation you can get credit help all by your own efforts.You can clean your report and repair bad credit score by following a few simple strategies. Some of the guidelines that can help you increase your score are:(continued below)

Guidelines to help you repair your bad credit score all by yourself…

(cont.)
Prepare a budget: You should plan out a budget for yourself and start saving each month to repay your debts. You can improve your credit score by becoming current on delinquent accounts.

Don’t use credit cards: As a first step to repair bad credit score, you must stop using your credit cards. If you don’t do so, you may accumulate more debt.

Order your credit report: The Fair Credit Reporting act provides you with the right to order free copy of your credit report from the credit reporting agencies (Experian, Equifax and Trans Union).

Clean your report:You should examine your report for incorrect or incomplete listings that reduce your credit score. Next, you should inform the credit bureaus about inaccurate or incomplete items by substantiating your claims with relevant documents. The consumer reporting agencies will provide you with a free copy of your report if the items you questioned result in a change.

Negotiate with creditors: Contact your creditors if you find it difficult to make your monthly bill payments on time. Your payment history makes up 35% of your credit score. So, you should negotiate with them to pay off collections and charge-offs.

Don’t close delinquent accounts: You should not close delinquent accounts including credit cards as it may have a negative impact on your score.

However, if you are unable to improve your score, you may seek professional help. There are different credit repair companies that can assist you to eliminate negative listings from report. Once you fix your report, you should open new accounts and apply for new credit cards in order to further increase your credit score.

About The Author
Diana is a financial writer with more than 5 year’s of experience in finance field & wrote many articles on topic like how to get credit help, credit repair tips, credit card consolidation etc. She is also a member of a forum based community where she shares her experience & knowledge with the forum members & visitors.