The sooner you confront your debt, the less damage it
will do. Understanding how much debt you owe may
keep you from creating new debt. Now that you are
seriously in debt, you need to work extra hard to repair
your poor credit. To repair your credit, follow the
If you want to repair your credit but do not qualify for a
regular credit card, consider a secured credit card. These
accounts are much easier to get as you will have to fund
the new account ahead of time with a deposit to cover
any purchases. Using this new credit card in a
responsible manner will help to build back up your good
Excessive interest rates can be contested. However, it is
best not to sign contracts containing them in the first
place. When a creditor hits you with incredibly high
interest rates, you may have a case for negotiating to a
lower amount. You did sign a contract and agree to pay
interest. You may wish to make a legal claim that the
interest rate charged exceeded your state's statutory
When trying to rehabilitate your credit, it is important to
work with each credit card company you are indebted
to. If you do this you will not go into debt more and
make your situation worse than it was. Politely ask if it is
possible to have your minimum monthly payment
adjusted or due date changed.
Don't attempt to fix your credit in a way that will result
in you breaking any laws. You should steer clear of
internet programs that show you how to clear your
credit. Creating a new credit file is very illegal and you
can be easily caught. The end result of getting caught
during the crime could be expensive legal fees and a
possibility of time behind bars.
When you are attempting to improve your credit score,
carefully comb over your credit reports for negative
information. Even if the item itself is correct, any small
mistake in the item, such as an inaccurate date or
amount, may let you have the whole thing taken off
your credit report.
Contact the credit card company and ask to get your
card limit lowered. This will prevent overextending
yourself and lets the company know about your
responsible borrowing habits. You could get credit easier
in the future.
When you start fixing your credit, pay down balances on
the credit cards as soon as you can. Work on paying off
credit cards that have the highest interest rates or high
balances. This builds the positive credit history that
creditors like to see.
Read every credit cart statement you receive in full.
Errors are not as rare as you might think. Go through line
by line for accuracy, and to prevent getting charged for
an item or service you did not actually get. The
responsibility lies with you to verify that each charge is
Your future will be a little brighter if you fix your credit.
You can do many things free of cost to fix your credit.
Make the tips in this article work for you and enjoy your