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How can I improve my credit score without outside assistance?

By Derek Brown
Published: Friday, November 6th, 2009

Credit report is of great importance as it gives a crystal clear picture of one’s financial status and also moral and commitment level. If you want to lead a comfortable financial life, it is real important to have good credit scores. This will guarantee you loans whenever needed without much of troubles, low insurance rates, low credit card annual subscription fee and good employment opportunities.

If you want to enjoy all these benefits you must make efforts to improve your credit score. Leave no stone unturned and put in your heart and soul to improve your credit scores. It is you and only you who can help yourself improve the credit scores. Outside help is generally of little or no importance. Follow these simple tips to improve your credit score.

Firstly, have all your credit report prints. Then sit to evaluate them all. Look out for faulty information. Every statement makes a difference to your credit score. A recent study shows that almost 65% of the credit related problems arises due to the negligence and discrepancies in the information on the report. Once you have found out the mistakes, bring them in the notice of Credit Reporting Agency. Submit all the necessary documents and proofs to support your point. In case they are strong enough, the agency will remove that red mark from your credit report helping you to add t your score.

Secondly, try and talk to your creditors. Remember creditors are interested in their money. Negotiate a lump sum amount and pay that to get that red mark removed. This way you will be able to improve considerably your credit score in no time.

Thirdly, respect all your due and honor your commitments. If your credit report reflects that you have been paying your dues well on time, the credit score mounts up the ladder. This way you will soon be able to touch the mark of decent credit score.

Fourthly, try out debt consolidation. Consolidate all your existing dues with one financial institution or a bank. This way the credit report will reflect only one creditor which helps you improve your credit worthiness in the market. Less the number of creditors better it is for the credit score.

Last but not the least, save as much as possible and use the money to pay off your debts.

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