It happens to many people; you get sidetracked and your credit takes a hit. Depending on how long you let your credit slide, it may take a while to get your score back up and recover from your issues. However, it is not impossible to repair your credit, and you can take care of most of the necessary tasks on your own.
The first thing you should do is draw up a budget and stick to it. Account for every penny you spend. Then make sure you have plenty of money to catch up late payments and start making every payment on time. It can take months and even years for late payments to fall off your credit report, so don’t get discouraged.
Next, set up a plan for paying off your debt. Start with the smallest account first and pay as much extra on it as you can to get it paid off. But don’t close zero balance accounts if they aren’t charging you any fees. A large part of your credit score is your debt to credit ratio. Having unused credit available on your accounts will help your score immensely.
You should also dispute inaccurate information on your credit report and get it removed. You shouldn’t suffer for things you didn’t even do. This can also help improve your credit score, and generally takes only a few weeks to accomplish.
Another thing you can do to fix your credit is talk to a credit advisor. CRE Credit Services can help you with this task. We will sit down with you at your first appointment and go over your credit report with you. We will then offer you credit advice and education to help you take the steps to repair your credit. There is no cost or obligation, so call us today!