Everybody knows that we are in a day and age of having numerous loans, whether it be auto loans, personal loans, credit cards, etc. Unfortunately, sometimes we can get behind on payments or perhaps even having to miss payments or even losing out on them completely. This will affect your credit in a negative way and sometimes it can get pretty overwhelming and seemingly impossible to get back on track. I’m here to tell you it is NEVER impossible to repair your credit.
Following these steps will certainly help get you back up to a decent credit score so you can get the approvals that you want!
First off, the most important thing is regularly checking your credit. There are various ways of doing this and they even have apps that can help you out with this. It’s a common misconception that checking your credit score will lower your credit score. If you do it the right way, then you’ll be fine!
You can actually pull your credit score from each of the three credit bureaus (Transunion, Equifax and Experian) once a year. A popular way of doing it is to rotate through them every 4 months. For example, check your Equifax in January, Transunion in May and use Experian for your September credit report.
Next thing you need to do is reduce your debt. Once you pull your credit, you can analyze how much you actually owe all of your debtors and make up a solid payment plan to get them the money that you owe them. While you’re doing this, it’s best that you don’t rack up any more unnecessary debt.
If you feel like you’re just completely overwhelmed and there’s no way you can handle it, don’t feel helpless! It might be a good idea for you to see an attorney or possibly hire a good credit repair company. Make sure if you go this route then you do your research on the company before you pay them. Unfortunately, there are a quite a few scams out there and doing your due diligence will help you avoid them. A good place to check is always the Better Business Bureau.