There are many different reasons why a person’s credit can be ruined. Whether you’ve gotten in over your head in debt, made one too many late payments, or have been forced to file for bankruptcy. Regardless of the reason your credit has been destroyed, rebuilding said credit is thankfully not out of the question. When it comes to the daunting task of bringing your credit score back up and getting back on your feet financially, it is important to note that there are many scams out there that aim to get people in further trouble. However, by meeting with a bankruptcy lawyer in Oklahoma and taking the proper steps to get back on your feet, you will be able to restore your good credit and once again take control of your finances. Keep in mind that there is no quick-fix when it comes to improving a credit score. This is something that takes time and patience. If you manage your finances responsibly over time and work hard to take care of any outstanding negative accounts on your credit report, you are guaranteed to see an improvement.
Below you will find tips for how to restore your credit the right way:
Tip #1: Be Aware. You cannot possibly fix your credit if you don’t understand how bad it is. Annual Credit Report’s website allows people to view their credit report from all three major credit reporting bureaus once per year. By taking advantage of this and making sure you look over all the information available that may affect your credit score, you are better prepared to deal with any problems that may come up. If any of the three reports differ drastically, there may be a problem and you should contact that company. All three reports should be pretty similar. Take note of the things that are causing negative marks, such as late payments or failure to pay. Knowing the problem is half the battle.
Tip #2: Dispute Any Errors. Once you have looked over your credit report, notate any errors or inconsistencies. At this point you should bring it to the attention of the credit reporting bureau by sending them a letter or filling out an online dispute form. Many people make the mistake of assuming that, because it’s on your official credit report, it must be correct. Mistakes do happen, and it is important to be diligent in making the right people aware of them.
Tip #3: Good Behavior. Restoring your credit score and having a good report report requires doing the right things on a consistent basis over long periods of time. Paying your bills on time is key, and it is also helpful to establish a budget for yourself.
Tip #4: Tackle Debt. This may seem like a no-brainer, but one of the best things you can do for your credit is to work hard to pay down your dent. If you have credit card debt, aim to keep your balances at 10% of your available credit limit in order to maximize your credit score in the debt category. Simply put, do your best to make paying off your debts your first priority.
The above tips should provide you with a good starting point when it comes to rebuilding your credit score. While this may seem an impossible task, it is attainable with a little knowledge, hard work, and patience.