Three Useful Tips to Repair Your Credit

Three Useful Tips to Repair Your Credit
By [http://ezinearticles.com/?expert=Peter_Lisdorf]Peter Lisdorf

As part of the credit-laden majority, I've had my own share of inconsistencies and irresponsibility as a payer. Though most of them have been due to certain financial difficulties at given periods in time, some just reflect my bad financial habits. And correct me if I am wrong, you share some of mine, too.

Unbalanced credit card purchases, late payments, defaulted loans and seemingly endless revolving debts are common examples of what we call daily doses of credit. We borrow and borrow, until we couldn't pay off on time anymore, which often leads us to arguments with the creditors and collectors. Worse, it leads to a damaged standing in our reports. We don't only gain unresolved debts that may resurface anytime, we also lose our reputation as borrowers. After having experienced looking at my delinquent standing with a distraught ego, I figured out that I should learn how to repair my credit. Some of those that I have learned through time are discussed below.


Pay before the 30th day.

Delayed payments are reported in the bureaus in 30, 60 and 90 days. If you are still trying to come up with funds to pay your overdue payment, make sure that you don't wait for the 30th day, since it will be posted as delayed by then.

Get as much credit cards and use them all.

No, this isn't a silly advice. You can get as much plastic cards as you like, as long as you use them all. The point is that you should never concentrate amounts of purchases on one single card, and never make it almost reach its limit. The best thing to do is make small purchases on each and every card, and of course, pay them all in time. The result - you get a better standing, because your debts are paid in full, on time, and it also means that you can handle many credit lines at the same time.

Negotiate with Creditors.

Since there is little way you can revert a bad standing, you can at least, negotiate with your original creditors and point out that you will pay your loan in full, for as long as they declare it cleared. Some may not be able to pull it off, but trust me, use your persuasive abilities and you will do just fine.


There are a lot of things that you can do aside from sulking in one corner and waiting for your debts to pile up, and your reputation to slide down the drain. It is possible that you can repair it. With the examples mentioned above that I have done through out the years, and by consulting debt counselors, you may be able to find newer ways for yourself. If you do not take action now, it may take about ten years to actually recover from a bad standing. With the right amount of determination and strategy, you don't need to have a bad history forever.

To learn more about how to improve your credit standing try visiting also thecreditreport.info, where you will get your [http://www.thecreditreport.info/credit-score/credit-score-explained-21.html]credit score explained, as well as finding more tips and advice how to build credit using [http://www.creditcreditcard.info/accountnow-mastercard-prepaid-credit-cards.html]mastercard prepaid credit cards.

Article Source: [http://EzineArticles.com/?Three-Useful-Tips-to-Repair-Your-Credit&id=3451899] Three Useful Tips to Repair Your Credit