What Is The Best Possible Way To Repair My Credit Rating?
1st April 2009 by Credit No CommentsCheck and save. These are the two elements I used that helped me to successfully repair my credit rating. Mind you, it took a while to do so, but I have successfully alleviated myself from bad credit status to moderate risk without subscribing to any of those credit repair companies or seeking the services of credit doctors. Here’s how I did it.
Check. I knew from the very beginning that my credit rating was less than desirable. However, when I finally got a copy of my credit report, I realized I had too many black marks to be in any comfort zone. So in order to repair my credit rating, I had to check each and every black mark – just to see if all of them were actually mine, or that someone else was using my credit cards without my knowledge. It turns out that 10% of them were clerical errors on the part of the payment agency I was using. I called the lending companies about the errors, and some of them were already removed. Now, I order my credit report regularly to see if clerical errors still appear and to keep my finances in check.
Repay. Repaying loans did not come easy, but I realized that it was the only way to convince some of my creditors to remove me from the bad credit list. Instead of debt consolidation, which is acquiring one large loan to pay off all the smaller loans, I decided to pay off the loans I currently had slowly. I snowballed one creditor at one time, until my debts were paid in full for that one company; and then snowballed another… and so on and so forth. By limiting the number of creditors I patronize, I was able to repair my credit rating and save money at the same time.
