Los Angeles, CA -- (SBWIRE) -- 11/11/2013 -- If someone has ever had to deal with poor credit, they have also probably asked that all important question; how does one go about repairing their credit? In this article is three ways to do just that. Credit ratings are extremely important to take care of; there are many reasons that a person’s credit rating can be bad; missed or late payments, foreclosures, and many outstanding debts just to name a few. The following is some helpful information about how to repair credit.
1: Pay Off Debts/Cut up Cards
The first thing to do is work on paying off all old debts and cutting up old credit cards. Pick one card to keep, look at the interest rates, amount owed, and credit limits, and then choose the best one to keep and cut up the rest. Most companies will be willing to work with customersby giving payment plans or reduced rates, people that are working on repairing their credit must take advantage of that. When many people think about how to repair credit they often overlook paying off debts that do not have anything to do with credit cards. Even outstanding hospital bills can hurt someone’s credit score.
2: Check Report/Correct Errors
Many people do not believe it but up to 40% of credit reports contain errors. To improve their rating, a person must start by checking their credit report and examining it closely to see if there are any errors. If they do find errors,they must then take detailed notes about each one, then pursue correcting them. Contacting the companies that the error lies with is the easiest way to go about this.
3: Help from a Friend
When someone thinks about how to repair credit there is one very important thing that is often overlooked; the fact that another person’s good credit can help improve that of someone with bad credit. If a person has a family member or close friend with really good credit, they may be one step closer to repairing their credit. All someone has to do is get that person to make them an authorized user on their credit card. This will give them a good account that will be added to their credit report and overall improve credit rating. Just be sure that not to overuse the privilege.
Knowing how to repair credit is not something that can be learned overnight, but the three ways described here will get a person well on their way. Just remember to start out by getting rid of all unnecessary credit cards and start paying off old debts. Then move on to checking credit scores/reports, looking for errors, and correcting any errors found. Also, if someone has a friend or family member with really good credit, they should ask to be added as an authorized user on their credit card to help raise credit score. Above all remember that time is essential, nothing happens overnight so be patient.
About Mark Clayborne
Mark is the best-selling author of the book –Hidden Credit Repair Secrets available at Amazon.com.He is also a certified credit consultant, FICO Pro Expert and proven writer with over 100 articles written in the area of credit repair. To learn more on How To Raise Your Credit Score. Click here.
Media Contact
Self Credit Repair Learning Center
434 S Ardmore Ave
Los Angeles, CA 90020
213-632-9974
http://www.selfcreditrepairlearningcenter.com
Rose Banks-PR contact
Support@selfcreditrepairlearningcenter.com