You may be one of tens of thousands of Americans have damaged their
credit ratings. They've misused or abused their credit cards or prolonged
periods of illness or nemployment have engulfed them in financial distress.
Having been through a financial crisis, they may think they won't ever
get credit again. Not true. Following some simple steps, you can rebuild
your credit in just a couple of years.
1. Avoid overspending and create an honest and realistic budget.
To avoid getting into financial problems in the future, you must understand
your flow of income and expenses.
A realistic budget is your best weapon against overspending.
2. Clean up your credit report.
- Get a copy of your credit
You need to know what the credit-reporting agencies are saying about
- Analyze your credit report and look for incorrect or misleading
- Make a list of all items considered to be questionable or negative.
- Request for correction by writing a dispute letter to credit bureaus.
- Wait for the credit bureaus to investigate your claims..
- Make sure the fix has been made
3. Add positive information to your credit report.
The one type of positive information creditors like to see in credit
reports is credit payment history.
- If you have a credit card, use it every month. Make small purchases
and pay them off to avoid interest charges.
- If you don't have a credit card, apply for a secured
- Pay all bills on time.
4. How long does it take to rebuild credit?
If you follow the steps outlined above, it will take about two years
to rebuild your credit so that you won't be turned down for a major
credit card or loan. After around four years, you should be able to
qualify for a mortgage.
You can get help from the following services:
Academy Credit & Law
Let an Attorney Repair your Bad Credit! The experts at Academy
Credit & Law understand your rights. By utilizing their time tested
strategies you will soon get back the Credit you Deserve. Talk with
a credit consultant today for free to see if you qualify.
Lexington Law Firm's attorneys pursue effective credit report repair
strategies. They claim they have helped over 80,000 Americans improve
their credit standing by removing inaccurate, misleading, and unverifiable
If you are looking to clean up your credit report, make sure you have
a choice about what gets disputed. You decide which items you want disputed
on your credit report.
Do-it-yourself repair kit