Having a bad credit score can hurt you when it comes to everyday things, like renting an apartment. If you need money immediately, before you can improve your score, we can help with personal loans for bad credit. In order to repair your credit, there are a few steps you can take. It will also raise the ability to borrow money on affordable terms.
Review and Dispute
The three credit bureaus you should be familiar with are TransUnion, Equifax, and Experian. They are required to give you a free copy of your credit report once a year. Credit Karma allows you to see your credit reports for free and for as many times as you’d like. If you are trying to cross reference and reports are different, that’s okay. Nothing is wrong with either company.
If you see derogatory marks on your account, you can dispute said marks. If you see a collection account appear on your report, there is a dispute button that allows you to remove your liability. Hopefully, within a certain amount of given, your entry will be removed from your credit report.
Settle the Incorrect Late-Payment Entries
If you see that there is a late payment when you know you paid on time, you can dispute the late payments (just like you did with derogatory marks). Payment history affects your credit score. Make sure everything is entered correctly to fix this.
Improvements
Other, but not all ways to improve your credit are:
- Ask nicely when it comes to fixing an error. Did you know that creditors are they ones instructing bureaus to remove entries from your credit report? Build a rapport and ask to remove the error.
- If you increase your credit limits, you develop a better ratio with your payments. Improving your ratio is as simple as paying down your balances. Always monitor your debt.
- If you open another credit account (hopefully one that does not charge an annual fee), you can increase your credit card use ratio.
- Always pay down outstanding balances.
- Don’t close old credit cards—closing a card can lead to a decrease in your average credit history.
- Lastly, always pay your bills on time.
If you find yourself in a bind, contact Short Term Loans today for information on personal loans for bad credit.
