Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Categories
Tip of the Day

Tip of the Day Pay Your Bills On Time

Pay Your Bills On Time - We all get behind on our bills every once in a while, but when it becomes a constant practice it starts to cost us...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

For Bad Credit History

Building a damaged credit history is a daunting task, many people have been led to believe that they need the services of a professional to raise their score levels, as you will come to understand most have learnt that rebuilding your credit record only needs dedication, time, discipline.

One of the key causes of bad credit scoring is normally brought about by poor mismanagement of credit, accrual of interests and late payments, getting approval for new credit with a damaged credit is almost next to impossible with a major bank, however you can get new credit from other option i.e a secured credit card, department store or Gas credit Cards, or from Payday loan advances.

At most caution is called for if you are to go for any alternative for credit, failure to pay on these option will land you in worst situation than your previously, look out also for credit companies that prey for customers with damaged credit scores, securing credit from these companies is normally easy but they charge more on interest which will damage you credit history further if you are not able to pay.

How can one rebuild a damaged credit History? As the saying goes, 'if you try the same ingredient on a cake, you will always find the same results' rebuilding a damaged credit history calls for an overhaul on your spending and management habits. Below are steps that one can employ to rebuild a credit history.

Get latest copies of your credit report - analyze copies you receive free from the credit bureau or the major three reporting companies, check for your spending trends and highlight or write down your credit spending strengths and weakness. One is advised to order credit report from different reporting company since different bureaus will report to different consumer credit reporting companies. Also cross check for any added information or errors.

Dispute Information- you have the right to dispute any information from your credit report, instruction on how to do so is normally indicated on the report, you are also advice to include a copy of the disputed report, highlight the information you dispute and have them sent to the credit bureau for investigations.

Tackle past due account - credit history is mainly damaged by unpaid credit, try as much as you can to get current on accounts, do what you can to keep account from being charged off.

Get new credit - after successfully resolving the negatives credit report, work on getting positive information added, incase you have other credit cards and loans reported at the time continue to pay in time.

You may also consider opening another credit account since past shortcomings can keep you from getting credit at a major credit card bureau, make application at a time this will will keep inquiry low and improve you chances to get the account.

If all this seem too hard to get by you can consider getting consumer credit counseling, this a sure way of getting it done. Only consider this option when all others have failed.

Discuss It!
Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Convertible Auction Rate Preferred Stock

Convertible Auction Rate Preferred Stock - a convertible auction rate preferred stock is a certain type of an auction related preferred stock that can be converted into shares of the underlying security an underlying security is a commodity or security, which is subject to delivery when an option is exercised...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com