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What are effective credit repair techniques?

By Derek Brown
Published: Tuesday, December 22nd, 2009

In case you want to procure loans but have poor credit history, don’t fret! There are ways to improve your credit score and be eligible in future of procuring loans at economical rate of interest. Some of your efforts can surely help you credit repair yourself without taking much of outside assistance. Some of the suggested and effective credit repair techniques are:

  • Check your credit report: in case you think of credit repair first thing should be to check your credit report. Look out for errors and discrepancies. In case you find any, bring it in the notice of the concerned authorities as soon as possible. Also, provide proofs to supplement your argument and save you from botheration. But, remember don’t give away your original support documents. You will surely need them at the later stage.
  • Stop the use of credit card: it is advisable to stop using your credit cards. In case you have multiple credit cards reduce their use and limit it to the use of single credit card only. This will help you reduce the long list of creditors in your credit report and giving it a boost.
  • Save as much as possible: try and save every single penny possible. Limit your spending. Every penny saved must be used in paying off the debts as soon as possible to speed up the credit repair process.
  • Look out for extra income opportunities: try and earn extra and use that money in credit repair process. Pay off your loans and get relived of your creditors.  
  • Negotiate with the creditor: if possible try and negotiate with the creditor for a lump sum amount and pay it off soon. Generally, this amount is much less in consideration to the actual amount to be paid.
  • Debt consolidation: if possible contact some debt consolidating agency and get your debts consolidated. This will reduce the number of loans to your name and give a boost to your credit repair process. Herein, the agency pays off your debts to the existing creditors. All loan amounts are consolidated into one monthly installment saving you from the burden of remembering all the due dates for paying off your debts.  

In case all these measure don’t provide you the desired credit repair, you must take assistance from the professional credit repair agencies. These agencies help you combat this stressful situation with great care and patience.

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