A common question I hear a lot these days: Is it possible for me to successfully repair my own credit or do I need to hire an expert? The Answer: It depends! It depends on the grade and quality of insider information you have available to yourself and your level of knowledge on how to apply it.
Before we go into the relevant steps, a few explanations first: Bad Credit does have a multitude of root causes.
Whether it stems from - bankruptcy or foreclosure - divorce - medical emergency followed by enormous hospital bills - lack of discipline in paying bills - identity theft - etc.
the result is always the same: Your scores keep you from moving on in your life when it comes to purchases of big ticket items that require financing such as - a home - a car - or simply trying to rent an apartment Other consequences are increased cost of basic things such as - many types of insurance - a cell phone - utility firms requiring hefty deposits - etc.
Therefore, to put any effort or money into improving your scores, is time and money well invested.
Whether you consult a Professional or a Service or are determined to fix your credit all by yourself, below are 7 essential steps to get it accomplished.
Step 1 ""Opt out"" from receiving junk mail credit offers.
Step 2 Pull a free Tri Merge Credit Report.
(Experian, Trans Union, Equifax) Step 3 Evaluate the Report together with a knowledgeable Professional, i.
e.
Mortgage Broker or Loan Officer Step 4 Open trade lines, use them frequently and pay them off every Month like a Clockwork Step 5 Dispute Basic Issues on Your Credit Report.
Step 6 Take Advanced Action Plan for the More Serious Credit Issues.
(Negotiations, Settlements, and Payment Plans.
) Step 7 Empower yourself with information that helps you manoeuver through the process