Find Your Solution

Establishing and rebuilding your credit may seem like a time consuming, complicated process, but it doesn’t have to be. Credit is only as complex of an issue as we make it to be. If you have been through a traumatic financial event, such as a bankruptcy – credit may seem like your worst enemy. However, it can be your best chance at a new start. Rebuilding your credit can take many shapes and many forms, but it can be done; we can help!

How to Repair Your Credit

So, where do you start? Every credit situation is different, but the best place to start is with a clear understanding of where you are and where you want to be. Where you are is easy to determine by looking at your budget and pulling a current credit report. With these two items you can establish a base of what you have, what you don’t, and what you need to reach you vision of better credit.

Repairing and rebuilding your credit begins with knowing where you are but also knowing what you can do about it. With a current report you can address some easy to address issues, such as inaccurate account details or payment discrepancies, that can lower your credit score. Fixing these easy to remedy issues are often the first steps in any credit rebuilding process.

A good second step is to obtain a low to medium interest credit card or loan that will be reported to the credit bureaus. Making regular, above the minimum, payments is a great way to improve the positive items on your credit report. Completing a credit education program is also a great way of adding key positive elements to your credit report.

There are several additional steps to better credit, here are the top 10 steps recommended:

1. Review and dispute any errors on your credit.
2. Attend and complete a certified debt/credit education program.
3. Obtain a manageable consumer credit card or loan.
4. Provide updated details to each credit bureau.
5. Automate or set up direct deposits for you regular bills.
6. Create and stick to a budget – avoid over spending/leaving outside of your means (related to your debt to income ratios).
7. Keep credit accounts open, even if you can pay them off. Having available credit is better than not having it.
8. Don’t run or let others run your credit too often. Do all your credit/loan shopping in 30 days – running your credit shows you’re shopping and will lower your score a few points.
9. Use common sense, don’t purchase what you can’t afford or accept excessive APR.
10. Setup credit monitoring or identity theft protection-it’s easy to pay a small fee than recover from identity theft.