Warning: Creating default object from empty value in /home2/jackie/public_html/wp-content/themes/headlines_enhanced_v3/functions/admin-hooks.php on line 160

Credit Repair: Making A Friend Out Of An Old Enemy


Repair Fair
credit repair

Image by Ars Electronica
Future hopes on a number of different levels are pinned on so-called green technologies: on one hand, they could help reduce the rapidly increasing global demand for energy, or even offer alternatives to finite resources like oil and coal; on the other hand, as highly committed politicians and young start-up entrepreneurs have long insisted, they could be a driving force behind the revival of our sputtering economy. In this spirit, Ars Electronica is staging a “Repair Fair” to spotlight a small selection of outstanding ideas, concepts and best-practice models that point the way to a brighter future. Visitors can take an up-close-and-personal look at green transportation when they take one of a whole fleet of electrical vehicles out for a spin on the E-Mobility Parcours. Additional informational material will be available on site and in the Infolounge.
Baby Jet

credit: rubra

It is likely you have done something to damage your credit rating at some point in your life, whether it was a shopping spree, a predatory loan or just being a victim of bad economic luck. Luckily, there are some things you can do to make things better. Here are just a few of the ways you can do that.

Don’t use credit cards a lot. Try to use cash instead for all of your purchases and bills. If you absolutely have no other choice but to use a credit card, pay off the balance in full as soon as possible.

Before using a credit counselor, it’s important to research them completely. Some credit counselors offer real help while others have more dubious things in mind. Some are just people trying to scam you. Before you conduct any business with a credit counselor, check into their legitimacy.

Carefully go over your credit report to check for discrepancies that might be invalid. Credit reports are not perfect. Incorrect information is sometimes reported, and errors can be made when compiling your report. If you notice any errors, file a credit dispute. Although it takes some time, it will remove the discrepancies if they’re proven to be invalid.

If you see any erroneous information on your credit report, file a dispute so you can have the information removed. Send a letter to all agencies involved. Include the errors you noted along with supporting documents that prove that the information on file is erroneous. Send your dispute package with a return receipt request so that you have proof that it was received by the agency.

You may feel some pressure to go with a payment plan or send in big payments that you cannot afford when trying to fix your credit. Know what your budget is and stick to it. Slowing down your repayment will slow down the repair of your credit, but it will not be nearly as bad as defaulting on payments that you cannot handle.

Lenders won’t bother to look at those statements and therefor they are a waste of your time. The statement will only draw further attention to negative reports on your credit history.

Each time you get a new credit card can negatively effect your credit score. Opening new lines of credit can hurt your score greatly, even if you get approved. Once you open a new credit card, your credit score will become lower.

Keep track of your battle with credit bureaus to have incorrect information removed from your credit report. You should keep a diary of all phone calls, emails, or letters you send. Send your dispute via certified mail so there is proof of you mailing it and the sender receiving it.

Take the time to carefully go over your monthly credit card statement. Always check to make sure that you are being charged correctly, and not being double charged or charged for items that you did not buy. Do not trust the credit card companies to have your back, guarantee you do not pay debt that is not yours yourself.

Doing so can help to keep good credit. Late payments to credit cards are reported to the major credit agencies and can hurt your chances for securing a new loan.

To rebuild bad credit, it can be a good idea to get rid of your extra credit cards. You should only have one. Transfer your balances to this one card, with the lowest interest, if this is possible. You can pay down one credit card in full, rather than chipping away at many.

Restoring your credit rating looks at first like an uphill battle, but with sound effort and the right advice, that battle can be won. Apply the tips you learned here and get started on your way to good credit.