What Steps Can You Take To Fix Bad Credit?

Have you been wondering how to fix bad credit? If low scores have become a concern, you are not the only consumer facing this financial dilemma. Numerous individuals are struggling to maintain a high credit rating as the economy takes its toll on their financial capabilities. Missed payments, mortgage troubles, and collection accounts are skyrocketing as consumer try to balance these responsibilities. You can take many steps to begin working toward a better rating regardless of the appearing derogatory items.

Begin by requesting a free report from the national agencies and paying for your FICO score. This information must be evaluated to ensure accurate data is being provided to creditors. Errors lower the score and should be brought to the attention in writing to the reporting bureau. Contact the creditor to see if they will research the claim and have the problem removed before sending an official dispute letter to the bureau.

Consider these further actions to resolve accurate derogatory issues:

  • Make Bad Debts Current
  • Eliminate High Interest Rate Delinquencies or Accounts
  • Consider a Non-Profit Counseling Agency
  • Close Card Accounts or Set Up a Plan to Bring Them Current
  • Liquidate Assets to Cover Debts
  • Avoid Frivolous Spending
  • Make Payments On Time
  • Lower Available Credit
  • Keep Card Balances Below Twenty-Five Percent of the Available Limit

Once everything possible has been done to alleviate negatively impactful records, do your best to maintain a positive credit history. Avoid closing old account unless there is no other alternative because they are important to a long term borrowing reputation. As bad debt is eliminated and the score begins to rise, consider opening a new account to improve the most current reporting records. You may not be able to apply for a major card initially, but have alternative options such as a gas or retail store card. Keep card balances low, repay all debts on time, and do not use credit to live beyond means. By attempting to fix bad credit, you can create a less risky history for outside financial parties and increase chances of approval when a loan or card is required.

TURNSCOR is the industry leading Credit Repair Company that can help you fix bad credit.

No need to invest hundreds or thousands of dollars to pay a lawyer or third party to do what you can do for yourself. This was the sole reason we developed TURNSCOR. The major credit bureaus and creditors would like for you to remain uninformed, thus allowing them to charge you higher rates of interest based on your personal credit scores. This reason alone makes it very difficult to build wealth without a high credit score. Get started today.