25
Sep

credit repair worth it

Given the financial difficulties we face getting by in our increasingly complicated world, it’s not a surprise so many people struggle with our credit and our credit scores.

If you’ve been the victim of identity theft or have gone through one of life’s many money-related challenges – you’ve lost a job, been divorced or suffered the loss of a spouse, or have had to declare bankruptcy – the impact on your credit can seem almost impossible to fix.

Even worse, if you owe on back taxes, student loans or childcare payments, it often feels like you’re unable to ever get ahead of those never-ending credit-killers.

But making the steps to improving your credit standing are indeed possible, with the results meaning better access to loans, more attractive interest rates, and that generally positive feeling you get when a bank, a car loan company, or a credit card says “yes.”

Taking Action to Improve Your Credit

Fixing a severely impacted credit score is not an easy job, nor is it an overnight project, despite what you might have seen from fly-by-night companies online who’ve promised to instantly wipe clean your credit history.

Any reputable credit repair firm will be very honest in letting you know that the road to a better credit score requires time, effort, and some professional leverage in helping to dispute or entirely remove the items that frequently cause a credit score to dip into the danger zone.

It’s also up to you to start taking action to protect, rebuild, and enhance your own credit score, and that means a personal commitment to making wise financial choices.

A re-evaluation of your current credit situation is a must-do. How many credit cards do you currently have? What sort of balances do you hold, or carry as revolving credit on a month-to-month basis?

How are you doing for credit utilization – that is, are you using more than 30 percent of the available credit limit on any (or all) of your cards? Can you commit to a budget, and begin to wean yourself off of living on credit cards? Is it time to rethink the money you spend on entertaining, a very expensive cell phone plan, or your cable package?

Dig Into the Back Pages of Your Credit

Start by looking at the full details of your credit report, which you can get for free from one of the three national credit bureaus, or through your bank or credit card company.

As you examine the list of creditors, does anything stand out as being incorrect, or not reflecting the reality of long-closed accounts? Is there a history of late payments, an account that went to collections, or items that simply don’t seem to be correct?

If you’re ready to spend the time and take the effort to clean up your credit, it’s certainly going to be worth it in the end.

Are there experts out there whose job it is to fix credit? We can help, if you would like some professional help.

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