Credit Repair

3 Simple Steps to Clean Up Your Credit

A low credit score makes life much more difficult. You may not be able to get a home or car loan. If you do manage to get financing, you will pay higher interest rates than do those with good credit, making your monthly payments more expensive and harder to meet. Even your car insurance rates may be higher when your credit score is low. Fair or not, that FICO number controls many aspects of your life. Fortunately, you can begin to improve that credit score right away while planning a long-term credit repair strategy.

Get Your Credit Report

You may have been avoiding looking at your credit score out of embarrassment or fear, but that needs to change. The first step toward fixing your credit is to learn where you stand. You should immediately order your credit reports and learn your scores. The three major credit reporting companies – Experian, Equifax and TransUnion – are required to give you at least one free report a year.

Once you receive the reports, check them for accuracy. If you find an error, dispute it online at the agency’s website.

Get Current on Payments

Late or missed payments are the major reason for bad credit. Experts recommend paying past due balances as quickly as possible. If you do not have the funds for that strategy, call your creditors and try to arrange a reasonable repayment plan. Also, request that they remove the late pay information from your report. That move can almost instantly raise your score.

Credit Repair Companies

Hiring a credit repair company can truly help raise your score, but you have to make certain to find a legitimate one with good reviews. Companies like Lexington Law work to remove negative and unfair items from your credit report. Just one negative credit item can cause your score to plunge up to 110 points. It’s well worth your time to explore hiring a credit repair company. Often, you will see a big improvement in six months or less.

You can compare the best credit repair companies with our comparison tool and see which service is the best fit for you.

People with poor credit often feel trapped. You can’t get the money you need to improve your life at an affordable rate. Or, you can’t get any credit at all. Happily, you can take action today toward fixing your credit dilemma and boosting your quality of life.

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