Credit Repair – Where to Start!

The credit report of a person plays a vital role in the loan application process. While a lower credit score can lead to loan rejection, a higher score increases the chances of approval. If you have an overdue student loan or your credit card balance is past due, you probably have bad credit. Poor credit will amplify the chances of rejection and shows that you need to do some credit repair!

Steps to start working on your credit repair

If you want to apply for a loan and want to do credit repair before that, here are the steps to help you get started:

Know where you stand

Before taking a step forward and planning to better your score, you should get a clear idea about where you stand. You need to get your detailed credit reports from the credit bureaus that have Federal Trade Commission approval. There are many websites that offer free credit reports, but you need to avoid them as these reports can be faulty.

Dispute the errors

Once you get the report, it is time to do the analysis. If you can see that you are at fault, start moving ahead with the repair plan. However, if you see errors like some flaw in the information, dispute these errors and ask for updated reports.

Attention to the Bills

A vital step in repairing your credit rating is to start paying your bills on time. Do not stretch the bill payments and pay off your credit card balances, as delay in the bill pay can worsen things for you.

Pay off the credits

If you already have some credit for pending bills to pay, get caught up as early as you can. Consider it like you must keep a clean slate and keep all your payments sorted. It includes all bills minor to major like your mobile phone bill, internet bill, credit card bills, car payments, etc.

 

With these simple steps, you can do your credit repair and make yourself eligible for taking loans. If you do not want to take any risks and wish to find ways to get assured about the approval of your loan application, seek expert help. There are several companies that can help you strategize and do credit repair!

 

 

About the Author:

This article is written by George Pardy, CEO of US Best Credit Solutions, a legal credit restoration company with experience of more than 13 years; licensed, bonded, and registered with the Secretary of the State. They help consumers struggling with a poor credit rating and need credit repair services to accomplish their financial goals, mainly in becoming homeowners.

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