Poor Credit? Make These Changes to Get Back on Track

Having poor credit can affect you in many ways. Not only can it make it next to impossible to qualify for housing and car loans, but it can affect how much you pay in deposits for your utilities and can even prevent you from snagging a rental or a good job. Repairing poor credit might seem impossible, but making these changes and following these tips can help you get back on track.

Request a Copy of Your Credit Report

Before you can start making changes to your credit report, you have to know what’s on it. You can request a free copy of your credit report once a year through each of the credit agencies, or you can sign up for a credit monitoring service that will give you this information for a nominal fee.
 

Fix Old Mistakes

If you have negative entries on your credit report, you should do what you can to fix them first. In some cases, your creditors will remove the negative entry in exchange for you paying a set amount of your debt. Look for a “Pay for Delete” letter template online, and send one to each of your creditors.
Even if you are unable to get the negative entries reported, you should consider paying them and having the entry amended to say that you have settled your debt. Although this doesn’t look good on your credit report, it will at least show future lenders that you have taken responsibility for past debts.

Get Credit in Your Name

Along with repairing old negative entries, getting new credit in your name and handling it responsibly can help you improve your score. Although it might seem impossible to get credit in your name right now, you might be able to get a small personal loan or a credit card through a department store. Paying these bills on time and avoiding maxing out your lines of credit will help you get positive reports on your credit.
 

Pay Your Bills On Time

It is absolutely critical to pay your bills on time if you want to change your credit situation. Even utility providers, landlords and others can make negative reports on your credit report, so don’t give them a reason to. If you find that you are unable to pay all of your bills on time, contact your creditors so that you can work out some sort of payment arrangement.
 
Following these suggestions is sure to help you get out of bad standing with potential creditors but sometimes getting the help from experts like Exelby & Partners Ltd is the only option you have available. Getting on the road to rebuilding your credit isn’t easy, but following these tips will help you make the right changes. You will be sure to see an improvement in no time!