Many people with low FICO scores often wonder if there is such a thing as instant credit repair. They search online for the answers hoping to find some special secret that is going to help them improve their situation. Unfortunately there is not instant fix to you credit problems but there are things you can do to improve them and get yourself to a better place. Keep reading to find out what those things are.
Three Tips You Can Use For Faster Credit Repair
Negotiate Your Current Debts- One of the biggest problems for people with low scores is that they usually have too much debt that they cannot afford to pay. Once you start paying late your scores will drop fast. The best way to get around this is call your current lenders and tell them whats going on, many will work with you and put you on a payment plan. Just make sure not to pay late when on the plan or things can get much worse for you!
Budget Your Money- This is a simple tip that seems almost obvious but most people do not budget. Instead they just wing it every month and always seem to wind up behind. Budgeting is not hard, just list all your expenses down and subtract them from your take home pay. Use the remaining money to pay down your debt faster and make sure to put some into savings for an emergency.
Do Self Credit Repair- Fixing your own FICO score is a great way to get negative items removed from your report. Once you get these negative items removed your scores will increase. This process involves sending dispute letters to the reporting agencies and asking them to investigate the information about you with the lender who is reporting the information. If the reporting lender cannot verify the information then it will be removed.
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