Quick credit repair might seem impossible if you’ve been having credit problems. It’s easy to think that once your credit score is damaged you might never be able to fix it. Fortunately, it’s possible to take just a few steps and achieve quick credit repair that can make a huge difference in your score.
Step 1 make sure you make the right payments on time. If you’re having financial problems, just this first step caIf you’re having problems with your credit, you’ve probably gotten behind on at least one debt. Late payments or missed payments can dramatically damage your score.n seem difficult. But if you figure your income and expenses and there’s just not enough there to make the minimum payments, then you need to contact the companies and let them know you’re having a hard time.
If this doesn’t work and you still can’t pay, you may want to look into a quick credit repair program that negotiates for you to pay a percentage of what you owe in smaller payments. It’s important to do something so that you don’t keep getting farther and farther behind.
Step 2 Manage the balances on Your Credit Card Balances. If your balances on your cards are more than 40-50% of their limits. You can pay more on each card if you want. But you’ll get more of a feeling of satisfaction if you choose one card to work on first. Make the minimum payments on the other cards, and pay as much as you can on that one card. Using this method, you’ll see the balance of that card drop more quickly. Once that card is paid off, chose another card and start applying what you were paying on the first card to it in addition to its minimum payment.
Step 3. Contact Experian, Equifax, Innovis and TransUnion and request your free annual credit report. Look them over and contact them about any errors. These are 3 easy quick credit repair tips than can really improve your score right away.
Amazingly enough, someone’s life can be drastically affected by three numbers. Here’s a look at the consequences they can bring. You should review your personal credit reports at least once per year. If all 3 scores form all 3 credit bureaus (equifax, transunion, experian) are above 720, congratulations! You have excellent credit; stop worrying.
If you’re scores are not above 700, no problem—let’s get to work. Take solace in the fact that the national average score is around 676 according to the Gallup Organization. If you’re scores are below 400, 500, or 600, there’s definitely room for improvement and only one way to go—up!
This Book Credit Restoration for Entrepreneurs will help you get started.
Want to know how your personal credit will affect your business? Don’t miss the Do It Yourself Credit Repair Workshop!
Obviously, if you currently have poor or bad credit history, it’s best to work on improving the status of your credit first before submitting your business loan application. Otherwise, you may just get declined by your lender. Banks and lending companies seek out applicants with good or excellent personal credit history.
You see the advertisements in newspapers, on TV, and on the Internet. They all make the same claims: “Credit problems? No problem!” “We can erase your bad credit – 100% guaranteed.” Do yourself a favor and save some money, too. Don’t believe these statements. Only time, a conscious effort, and a personal debt repayment plan will improve your credit report.
This workshop will include:
• How you can improve your credit worthiness and legally dispute negative information on your report.
• How to obtain a free credit report and understand your credit rating.
• Understanding the credit scoring system.
• Secrets to getting business capital with less than perfect personal credit.
Bring a recent copy of your credit report and get it reviewed by an expert!
Inland Empire Women’s Business Center
SPACE IS LIMITED!
Register online at www.iewbc.org Tuesday November 2, 2010 Time: 6pm -8pm
Cost: $10.00 Online or $15.00 at the door
Author of Credit Repair For Entreprenuers, Speaker, and Business Finance & Credit Advisor