Many of us find ourselves in debt at times in our lives, watching our credit scores dropping almost daily. This does not need to be the end of your credit life, if you know what you are doing.
1. If you are in need of a vehicle, look into finding a Bad Credit Auto Loan Specialist, who could help you into the right vehicle, that provides you with a payment you could make at least 12 straight payments on. Making 12 straight payments to a Chartered Bank or Finance Company can be beneficial in dramatically improving your score in 12 months…WHILE having a vehicle to drive.
2. Get a copy of your credit report from at least 3 major credit sources. Find out if there are discrepancies between them.
3. Determine if the details are correct, and therefore each of the accounts open really are yours. Ensuring your credit has not been hacked is ground zero of fixing your credit score.
4. Examine your credit cards, and what percentage you are being charged interest. Seeing ridiculous interest payments, may be a good incentive for you!
5. Combine your credit cards in to a single card with the most competitive rate of interest. Knowing where you can get the lowest interest rate card is an important step towards credit repair.
6. Pay off even more than your regular monthly minimum as often as possible. Credit Bureaus will take notice of your more responsible approach to your credit.
7. Do not start further credit cards, though, do NOT close your current cards. Show the reporting agencies that you acknowledge the debts and your willingness to pay them down.
Repairing your credit rating could take time as well as hard work, but you will find that it definitely is worth the cost. Should you be looking for ways to obtain pretty much any financial loan, your credit history is definitely the the very first thing looked at by a lender.
For additional info on repairing bad credit please visit www.bcautofinancing.ca