5 Simple Credit Repair Tips to Help You Fix Your Finances

Your credit score is important.

Your credit score is a number representing your creditworthiness and  ability to handle credit responsibly. It is the number used by lenders,  businesses, and a host of other agencies when evaluating whether or not  to do business with you. We have 5 easy credit repair tips that will help you get back on track.

1. Review Credit Reports

The first easy thing you can do to start improving your credit is to review your credit reports. There are three credit bureaus that collect and track information  about your credit, and each is required to give you a copy of your  credit report yearly for free. These bureaus are TransUnion, Equifax,  and Experian.

2. Dispute and Correct Errors

Did you know that around 25% of credit reports contain an error? If you’re looking for some credit repair tips, checking your credit reports for errors and working to correct them is vital. Common credit errors include incorrect personal information, wrong  account statuses, duplicate accounts, and negative information that has  exceeded the number of years it should remain on your report.

3. Pay Down Debt

We know that paying down debt is easier said than done, and that a good credit score may be needed to access the resources needed to help pay down debt. 

4. Pay Bills on Time

Another simple way to improve your credit is to pay bills on time. Payment history is the most important factor used to determine your  credit score. Those that have a long history of paying their bills on  time are seen as credit-worthy and low-risk borrowers.

5. Explore Credit Repair Options

The last of our credit repair tips to explore once you’ve done the simple things above is to consider credit repair options. Of course, there are credit repair companies out there that can help, but there are also things you can do on your own.

Moral of the Story

Unfortunately, many of us tank our credit before we even know what  credit is or what we’re doing. The good news is that it’s relatively  easy to repair your credit given some time and a concrete effort to do so.

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