What's the best way to fix your credit?

Question

What's the best way to fix your credit?

Answer 1

For Finance and credit solutions I always recommend this site where you can find all the solutions. http://your-finance.us/index.html?src=NDm4CedDbG



RE :What's the best way to fix your credit?

how can you fix your credit, is debt consolidation helpful, i juat want to know the total amount so i can pay it off in full, my credit report didn't really help so what else could i do>

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Answer 2

Try https://tr.im/1tSN5

Answer 3

I am still trying to fix mine after filing bankruptcy in May 2005. It is not easy...i have down debt consolidating. However, it doesn't help either when people take your identity either which is happening to me.

Answer 4

First of all, it is NOT good advice to use a credit counseling service to repair your credit. It is in your best interest to do the work yourself.



Look at your credit report. Is everything reported accurately? Many derogatory items can be deleted if they are at least two years old. Credit bureaus must verify any information you dispute and if those derogatory accounts no longer have you on file, there is no way for credit bureaus to verify them. Start by going to the bookstore and purchasing "Guaranteed Credit" by

Arnold S. Goldstein. All the tools you need are in this book.



Do you have collection accounts? Contact the original creditors, NOT the collection agencies. Settle those accounts with the provision that all negative information be removed, and get it in writing. The above mentioned book has sample letters covering this area. Most credit card companies will reverse late fees and over credit limit fees and even interest if you settle to pay back a set amount



Leave good accounts open but pay the balances down as much as possible. Debt ratio is a key factor in credit score computation. Paying accounts off helps your score as well, contrary to popular belief.



Don't take the advice of someone who does NOT have the experience in dealing with credit repair issues. I have been dealing with credit bureaus, creditors, consumer counselors and collection companies for over ten years. I have helped friends and family through bankruptcy, collections and credit card over extension.



Just let me add that, when dealing with credit card companies in regards to settlements, this is when you find out if this credit card company is user friendly or not. I have run into some who refuse to negotiate. These companies need to be paid off and closed ASAP. Wait two years after closing and get them deleted from your report.

Answer 5

my profile has a link for bad credit but there at that site is also a credit repair kit might take some of the stress off

Answer 6

I'm not sure what kind of debt you have (medical bills, credit cards, car loan, maybe all of them?). I do know that the only way to fix your credit is to pay your bills on time. As time goes by your debt will be reduced and you'll build a history of on-time payments, which will make your credit score go up. I learned a lot from Fool.com, and Suze Orman. Debt consolidation might be helpful, but only if there's no way you can handle your debt anymore. I believe if you go through a debt consolidation company they'll get your interest rates and payments reduced, but it shows up on your credit report. You might try doing it yourself firt. Call you credit card company and ask for a lower interest rate. Tell them that you have an offer for a much lower interest rate from another company. They want to keep your business, so they'll probably be willing to drop the interest rate. If you have medical bills, work out a payment plan with the provider so they don't send the bill to collections. In fact, I would suggest you do this with any creditor. You want to avoid past due bills on your credit report. Next, save up a little money in an emergency fund. Even just a few hundred dollars could keep you from having to use your credit cards for unexpected expenses (car breaks down, dentist bill, etc). One you have a little saved up, throw every last penny you have toward your debt, paying off the biggest balances/highest interest rates first. You might want to practice frugality during this time. I found The Tightwad Gazette really entertaining and helpful.

Answer 7

Reduce you debt, stop spending, merge balaces to fewer cards, lower credit limits on cards, stop writing bad checks and pay your bills.



Debt consolidation is great BUT you have to stop spending. I know too many people to get everything rounded up and on their way to freedom and then they would run up another credit card and then end up worse off than they were before they begin. People have actually lost their homes because they take out an equity loan to pay off creditcards, but they are so stupid and don't realize they have to stop using the cards! They run them back up again and then cant afford the house payment, the equity loan payment and the high minimum payments on the creditcards.



This is the hardest thing in the world to do. You have to face facts about how much you make and how much spend. You will have to say I need to use coupons, I need to stop using name brands and most of all stop buying everything you want. Buy only what you need!!! And I mean need. Not want need to justify buying it. If you can't find anything that is not a need, then you need to find a better paying job that can cover your taste. As the song says It's not about what you want it's about wanting what you've got.



You just have to find your statements and add it up to get a total. No matter how hard you try, it will never be exact. Esp. if your being hit with fees and high interest.

Answer 8

If you know how to read your credit report, it should tell you everything you need to know. Who the accounts are with, what the balance is, what the payment history is, and how far past due the accounts are. If you have many accounts in default, you may want to talk to a consumer credit counseling company. You will need to make payment arrangements with as many of your accounts in default as possible. That's where you need to start.

Once you clean up the current problems, then you need to start trying to obtain an installment loan, say on an automobile. while you may have to pay a high interest rate, your on time payments to this type of loan will do more to increase you score than revolving or credit card type of accounts. If you have any specific questions regarding reading your credit bureau, you can contact me at any time.

Answer 9

Settle any outstanding debts. Then pay all your future bills on time.

Answer 10

Credit counselors are great and they are free. There are millions online, but be careful to do a background check on them. My parents used Genisis.