Most people have big hopes when they start out in life. But there are times when life just works against you and you can find yourself in a hopeless situation. Having a lousy credit score can feel like there’s nothing you can do.
But you can recover your credit score, and it doesn’t have to take 7 to 10 years like so-called “credit experts” will tell you. Having worked with many credit repair agencies, I have seen hundreds of thousands of credit scores go up by using a few simple, tried-and-true methods of repairing your credit. These are legal methods that have been proven time and time again to work.
1) Remove Negative Items
If you want to see the most improvement on your credit score in the shortest amount of time, then remove those stinking negative items! They are a killer to your score and make you look like a deadbeat to any loan officer.
Some people like to take on the system themselves. We have a credit repair guide that shows you how this can be done. We even include a bunch of sample dispute letters to get you started. Just remember to not give up no matter what you get back from the bureaus.
Some people like to hire a service (the same people who don’t like to change their own oil or mow their own lawn).
2) Pay Down Your Debt
There’s no getting around this one. A high debt-to-credit ratio will kill your score just about as much as a bankruptcy. There are a bunch of techniques for getting your ratio to look good to a lender’s eyes, but one thing’s for sure, you can’t be maxed out or you can forget about your score looking good.
3) Build Good Credit
This last steps is actually several steps in one. Having a good credit score mean getting a diverse range of accounts, then maintaining them for a long time. These are the smaller parts of a credit score, but they are the important parts if you’re going for perfect credit.
We know a lot of the information on the web makes maintaining a credit recovery look next to impossible, but it doesn’t have to be. We contend that there really are only a few steps that you have to be aware of to keep your score at a respectable level. But the most important thing is to start today!