Credit repair is very important. If you have bad credit and cannot get approved for any kind of loan, you need to get your credit in order. The good news is that you can repair it yourself.
Can I Fix My Credit Myself?
Yes, with the right information and guidance, you can improve your credit score.
Below are steps you should take:
1. Check Your Credit Report
Your report has all your credit information, and you can get a copy from the three major credit bureaus: Experian, Equifax, and TransUnion. Check your reports from all three bureaus because some creditors may not report to all of them. You can also get a free copy at AnnualCreditReport.com.
It is good to check your report monthly to see if there is a new entry you did not authorize. Or if there is an account that is time-barred.
2. Dispute Any Inaccurate Information
If you find a new account in your credit report that you aren’t aware of, report it to your creditor. Call each of the three major bureaus and ask them to correct any inaccurate information in your report that may affect your score, ability to get loans, or other forms of financing.
Your credit report also shows if an account is past its statute of limitations (time-barred), so you can dispute and have it removed.
3. Prioritize Paying Your Credit Card Bills on Time
Paying your credit card bills on time helps you improve your credit score and helps you qualify for low-interest rates. You also save money from late payment fees that can be as high as $35.
Pay your cable and utility bills using your credit card to build a good payment history that helps improve your credit score.
4. Minimize Hard Inquiries
Minimizing hard inquiries is an essential step in repairing your score. When you apply for new credit, it shows up on your report as a hard inquiry. A hard inquiry causes a drop in your score.
5. Opt for a Debt Consolidation Plan
If you have multiple loans or credit card bills, it is easy to forget to make some payments. Debt consolidation is an easy way to combine payments into one new loan at a lower interest rate. Consolidating your debts helps improve your credit score if you make timely payments.
6. Set Payment Reminders
Given that you may be busy, it is easy for payment to skip your mind. Setting up reminders helps you make on-time payments that are crucial in improving your credit score and avoiding late fees. If you do not set payment reminders, you may end up paying late fees.
If you are behind on payments, call in advance so they can give you an extension before charging late fees or increasing interest rates on loans.
How Long Will It Take for Credit Repair?
Credit repair may take three to six months, depending on the severity of your delinquencies and bad habits, such as late payments or accounts in collections or bankruptcy records that affect your credit score.
It may take up to 18 months to get your credit score from poor to fair.
Can I Make My Credit Perfect?
So, can you make your credit perfect? Yes! You can do it on your own or work with a fast credit repair company like the Ascent Network to get the help you need. Here are some tips for repairing your credit:
- Pay off any high-interest debt as soon as possible
- Check your reports regularly
- Remove errors from your credit report
- Make on-time payments
Can I Pay Someone for Credit Repair?
Yes, using a credit repair company is an easy way to repair your credit. They have experts and know how to handle all the problems that may arise while repairing your bad credit ratings.
These companies provide credit repair services to help set up payment plans with creditors so that you can pay off any debts on your report. They also negotiate and make arrangements for how you will be making payments on overdue debts.
Credit repair companies are experts in credit laws such as The Fair Credit Reporting Act (FCRA), The Fair Debt Collections Practices Act (FDCPA), and The Fair Credit Billing Act (FCBA). They use their understanding of the law to help leverage them in your favor. Look at credit repair reviews from service providers to make sure they are legit and deliver as promised.
A more positive outlook toward a more financially secure future starts today. Give the Ascent Network a call at 1-877-871-2400. Ascent Network helps consumers all over the United States. It is available locally in Huntington Beach, Coachella Valley, Palm Springs, Cathedral City, Rancho Mirage, Palm Desert, Desert Hot Springs, Indian Wells, La Quinta, Indio, and Thousand Palms, CA.