This article provides advice on how to repair bad credit. It recommends securing an FHA loan which are government guaranteed and sometimes cover down payments or closing costs. It also advises paying down credit card balances that are over 50% of the credit limit to improve your credit rating. The article warns to carefully research any credit counseling agencies before hiring one to ensure they are legitimate. It also notes that credit settlement plans can hurt your credit score so it's important to understand all options and find one that won't negatively impact you long term as the credit companies only care about their bottom line, not your score. The tips include living within your means, closely reviewing credit card bills for unauthorized fees, and taking steps like these outlined will help fix

1. Advice To Repair Your Bad Credit

2. Is your credit terrible? The helpful information in this
article will show you how to begin repairing your credit
and become financially functional.

3. Getting a traditional home loan can be difficult, if not
impossible, with imperfect credit. Try to secure an FHA
loan; these are federal government guaranteed. Some
FHA loans even cover a down payment or your closing
costs.

4. If you have credit cards where the balance is more than
half of your credit limit, pay these down right away. If
any of your balances climb past half of your available
credit limit, pay them down or spread the debt around
other accounts, otherwise, your credit rating gets
tarnished.

5. Try to keep a balance of less than 50% of your available
credit on all of your cards. When balances are over
50%, your credit rating goes down significantly, so try to
either spread out your debt or, ideally, pay off your
credit cards.

6. Before you hire a credit counselor, make sure that you
have done your research. Although some credit
counselors are truthful and legitimately helpful, other
credit counselors are not honest and upfront with their
motives. There are many scams out there. Smart
consumers will always check to see that credit
counseling agencies are, in fact, legitimate before
working with them.

7. Before you agree to any sort of repayment plan to settle
your debts, consider how this will affect your credit
score. You should know all about the methods you can
use if you are going to enter into an agreement with
someone. Creditors just want their money and really
aren't interested on how it will affect your score.

8. Before you agree to any sort of repayment plan to settle
your debts, consider how this will affect your credit
score. Some methods of credit settlement can be a blow
to your credit score, so it's important to check into your
options and find one that won't hurt you in the long
term. The credit companies are looking at their own
bottom line and are not concerned with your credit
score.

9. Start living within your means. You will have to change
your thought patterns in order to get your debt under
control. A lot of people rely on credit to maintain an
unrealistic lifestyle, but when the credit runs out, all
that's left is a very big bill. Instead of spending more
than you can afford, take a long hard look at your
income and expenses, and decide what you can really
afford to spend.

10. Take a look at credit card bills to make sure that every
item is one you have charged. If you notice unwarranted
fees or surcharges, contact the credit card company to
avoid being reported for failure to pay.

11. As you can see, your credit report no longer has to play
the lead role in your worst nightmares. You can fix your
credit and no longer have it hanging over your head
constantly. If you do the tips listed here, you will surely
get a good credit report that lots of people dream of.

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