As the economic conditions in our nation worsen so does the number of people with bad credit.
But do keep in mind your bad credit score did not happen over night.
It had to start long before our economic down turn.
Too many years of too much spending and not enough income to pay all of your bills.
In this article I will give you some tips on how you can reverse your bad credit score and put your credit score back to a level you can be proud of.
First, you must admit that you are financially in trouble.
If you have your head in the sand you can never work your way out of it.
You must dedicate yourself to this task and keep to a strait and narrow path.
Second, get a copy of all your credit reports so you know exactly what they are saying about you.
You want to check for any possible mistakes.
This does not have to cost you anything as each credit reporting agency will give you one free report each year.
Third, take any good credit cards out of your wallet and stop using them immediately.
Only buy things you can pay for with cash, a check or a debit card.
Fourth, start by evaluating how you spend your money.
In the beginning you must only spend money on only the absolute essentials.
These are things such as rent, utilities and car expenses.
To start out with you may want to cut out such things as cable, cell phones maybe even that gym membership.
As the bills get paid down you can start replacing these luxuries.
Fifth, start paying your bills on time.
Nothing will prove to your lenders that you are back on track then for them to receive your monthly bills on time.
Lastly, don't hide from creditors, make yourself available and willing to work on payment plans that you can stick to and follow.
You will find that most creditors will work with you because in the end all they want is to be paid back