If you are reading this article, you may be concerned about certain inaccuracies or problems that are listed on your credit report or maybe you have had some financial problems in the past that has led you to damaged credit.
Maybe you would like to buy a house or a car and are worried that your credit might not be up to par with what is needed to get a great interest rate or maybe you have been the victim of identity theft and are trying to pick up the pieces.
If this is you, rest assured, you can repair your credit and get the piece of mind that you need to take positive steps in the right direction.
By following the steps that are discussed in this article, you can repair your credit.
The very first step that you must take when you decide to repair your credit is to order your credit report.
There are three major credit bureaus, Equifax, Transunion and Experian, and you are entitled to a free credit report from each of these companies each year.
Take advantage of this.
The best way to stay on top of your credit standing is to be aware at all times what is on this report.
Next, when you get your hands on these reports, compare the information on all three reports and deviate a system that will mark inaccuracies or other aspects that need attention paid to them like a maxed out credit account.
If this information is highlighted or marked, you will know what you have to follow up on to repair your credit.
The next step to take is to understand that you have the right to dispute any information that you find on your credit report.
All of the credit bureaus will have information on their websites as to how you can go about disputing any information that is reported by them.
For information that is accurate, you now have to go about setting it right.
Begin with paying your past due accounts and contact the companies or collection agencies that hold the accounts to arrange a payment plan if the balance is too big to stroke a check for.
You will find that when you are open and honest about how much you can afford to pay each month on a past due account, creditors are willing to work with you.
It is as much in their interest as it is in yours to pay down these accounts and get them closed.
As far as credit accounts that are current on your report, work to make sure that you can stay current.
Consider enrolling in a credit counseling program that might be able to help you lower your interest rates and keep your payment the same each month until the account is paid off.
Finally, it is important that you bring accounts that are close to being maxed out or if you are already over the credit limit, under that number.
A major part of your credit score is the ratio between how much you owe on a credit account and how much the overall line of credit is.
Therefore, it is wise for you to try to get that number as low as possible and keep it there.
If you can follow these steps and manage to live by these rules on an ongoing basis, you will see your credit score rise gradually as your debt becomes more manageable.
After you have accomplished this, the next step of course is to not go into debt again.
There are a variety of resources available to you to help repair your credit and live within your budget.