Bearing a bad credit score can indeed be a pain for any individual.
None of us are prepared for it.
But once that happens we start looking out for means to improvise our credit scores.
There are numerous tips to fix bad credit scores quickly.
Let's take a look at the effective tips to fix bad credit score quickly · Request a copy of the credit report from all 3 main credit bureaus of the country.
Then locate the errors & inaccuracies mentioned there.
Next, write to the concerned departments or organizations and request them to correct the difficulties as far as possible.
· Repay the outstanding bad debts as much as possible.
This would help you wipe out at least some of the existing black marks in the report.
This would lead to a very positive effect on the over all score.
· Close some of your existing credit card accounts.
It would lower the over all credit in your name, thereby would add to you scores.
· As much as possible, do not spend with your credit card.
· Manage your finances in a planned manner.
Make a budge for the household and other expenses and make sure that you stick on to the same.
You surely can not ignore the necessities, but ignore the luxuries.
· Set reminders or manage a system where in you submit all the payments on time.
This would add to the positive remarks in the credit report.
· You must not apply for too many loans.
· Also do not pay back your old loans new loans using your credit card.
· Consolidate your debts.
It reduces your credit amount to a great extent and makes the makes your finances quite manageable.
· In case you are not able to make monthly payments on the due date, call up the lender or the bank in time, that is, before you have actually missed the payments.
In case they approach the collection agency first it would add a black mark to your credit score.