Pittsfield, MA -- (SBWIRE) -- 12/03/2012 -- The most important thing to do when embarking on the journey to good credit is for a person to obtain a free copy of his credit report so he knows exactly how much debt he has. Then he can address the question “How can I repair my bad credit?” He should give his credit report a thorough going-over to see if there are any mistakes or fraudulent items. If he finds any, he must point them out to the reporting bureaus and dispute them in writing and by registered mail. After the reporting agencies have a chance to investigate the disputed items, it is likely that those items will be expunged from the individual’s credit report, making his score improve.
Know more ways to repair bad credit score
Some other answers to how to repair your bad credit include lowering the amount of debt one is carrying. This is not as difficult as it sounds; there are many effective ways to do it, one of which is to utilize the equity in one’s house to pay it off. Looking into a loan against an IRA at work or from a cash-valued life insurance policy will get rid of debt fast. If family members or friends are able to help one out with a non-interest-bearing loan, that’s a terrific way to eliminate debt. Picking up a weekend job and applying the paycheck from it toward debt helps pay it off quickly, as does cutting back on “fun” spending such as dinner at a restaurant twice a month or a visit to a movie theater. Use the money saved from making special dinners at home and curling up on the sofa with a bowl of popcorn, a video, and a favorite person to get rid of some financial obligations.
There are more ways to respond to how to repair my bad credit, including setting payment reminders for every bill with the amount due plus 10% and the due date. The extra 10% goes directly to the principal of the arrearage, eradicating it rapidly. These reminders can be listed on the kitchen calendar or set up in one’s computer; the point is to make use of them wherever they’re set up. Be sure to pay all monthly bills on time, as late payments can harm one’s credit standing.
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