Credit repair can be simple, but it requires some time and effort on your part. If you are willing to follow a few basic steps, you will see drastic improvement in your credit score. Below is a credit repair to-do list that will help you improve your credit report before you know it:
- New Accounts. This may seem like odd advice, but rebuilding your credit begins with opening new accounts. Your credit score will not go anywhere without open and active accounts. It is important to understand that not all forms of credit will repair your credit equally. Credit cards from stores do not give you the same advantages as cards like MasterCard or Visa. Thus, it is important to select your new accounts carefully. If you do not qualify for traditional cards, obtain secured cards and start rebuildling your score immediately.
- Manage Balances. Your credit will only improve if you manage your balances. The higher your card balances, the lower your scores will be.
- Dispute Errors. It is important to closely monitor your reports. If something on your credit report is incorrect, take immediate steps to correct the error. Mistakes on your report can cause damage to your score, so take steps to dispute anything that is incorrect and follow-up to make sure the reporting bureau corrects it.
- Savings. Having savings set aside is important. If you have a month where you are struggling to pay your bills, having savings can prevent you from making late payments. Unforeseen events will happen, so take steps to be prepared. A single late payment can affect your credit score.
Having a good credit score is important to your financial health. Taking simple steps to improve your score can have a big impact!
If you live in the area of Surprise, Arizona, contact The Dodds Law Firm, PLC, at 623-209-8923. The Dodds Law Firm, PLC, serves clients primarily in the areas of Fair Debt Collection Practices Act violations, Chapter 7 and 13 bankruptcies, and issues of Unfair or Deceptive Business Practices. Mr. Dodds and his staff know how to listen carefully, and how to explain the law and procedures involved in a legal matter, as well as your rights and options, so that you can make informed choices.
