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HOW DO I REPAIR MY CREDIT?
by: Cornelis Camp
There is no doubt that if you live long enough on this earth, you may encounter some hard times. Even the most famous, influential people have been gone through financial strain at some point.
Dwayne “The Rock” Johnson had $7 to his name before he made it big in Wrestling. Both Tyler Perry and Steve Harvey, each, lived out of their car for a period of time. Barbara Corcoran from Shark Tank failed at 22 jobs before she decided to borrow $1000 and pursue her dream in real estate.
Whenever you go through financial hardship, your credit can take a big spiral downward. This can be detrimental to your future. A lot of you might ask, how do I repair my credit?? Remember that repairing credit is like losing weight. It's not easy and it does not happen overnight. If you ever come across a program that “guarantees” quick credit repair, run in the opposite direction.
These schemes may do more damage to your credit. The best thing to do is patiently manage it over time. Notice the keyword, patience. Here are some steps that you can do to help get started on your road to recovery.
Steps To Help Repair Your Credit
Check Your Credit – How do you know what your credit score is?? The best way to find out is to run a free credit report. This will give you an updated credit score and allow you to check to see if there are any errors. You want to keep an eye on this because if you find errors, report them to the credit bureau.
Reduce the Amount of Debt You Owe – This is something that I am working at myself. Debt can easily be accumulated, especially if you have a credit card. It's so easy to just pull that card out to pay for whatever it is that you probably donʼt need at the moment. If you have debt from several areas (credit cards, car note, student loans, etc.), select which one you owe the most interest on and start to pay that section first. Meanwhile, keep making the minimum payments in the other accounts. Oh, and be sure to cut up ALL credit cards!! That is what got you here in the first place. As hard as it is, try and start paying with cash.
Setup Payment Reminders or Automatic Bill Pay – Paying your bills on time is one of the best ways to contribute to your credit score. This will improve your score and will help maintain a high score. Set reminders to make payments on time or you can do like I do and enroll in automatic bill pay. This way every month, I donʼt have to worry about what is due on what date. It is automatically deducted from my account. You can set this up through your bank.
Once you get your credit back up to a viable score, you should do everything you can to keep it high. Remember all the difficulties and stress you dealt with when your credit score was low. This should be a constant reminder in your head that you are going to do whatever you can, not to visit that place again.
Having several years of experience in customer service as a Certified Systems Administrator and Ministry Leader for a large congregation. I bring over people for over 28 years in serving people in C....