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Credit Repair - 5 Ways To Improve Your Bad Credit Score

Apr 14, 2008
Credit debt is one of the largest problems in the United States today. Many people o not realize that a bad credit score can negatively affect their lifestyles. This article will show you a few simple ways to increase and bad credit score.

1) Pay off all bad debts immediately.

The best thing that you can do for an immediate effect is to try and payoff all your outstanding debts. No matter what the charge is, you need to pay off all debts as fast as possible. As you get your checks take some time and budget in small payments to clean up your credit history. Do not do it in a way that you become even more in debt. Just figure out a little plan and pace yourself with amounts.

2) Be extremely careful when it come to co-signing anything.

For the time that you are spending to pay back debts, you should be very careful when cosigning for anything. That is, if your credit score will still allow you to even co-sign at all. If it is something you can do without, do not even bother with it. This is a time when you need to keep a close "hawk" eye on your expenses. Joking around right now is not an option. As everyone knows, your credit score number

3) Seek credit counseling from a well known institution.

This option is not really considered, but it is mostly for those who are in really bad debt. What you need to do is find a well known successful credit counseling company. There are a lot of them out there that turn out to be scams. They will help you to pay of the complete debt immediately and set you up with a payment plan for them without hurting your credit. Be sure not only to do research on the internet, but also ask friends and family to get the best possible options. But remember, before taking this step, you need to be sure that you have enough money to pay for their services.

4) Try to make purchases with cash instead of credit.

This next tip comes from basic experience and common sense. If your credit is in bad standing, then use cash. Some people do not feel safe carrying around cash, but it is an easy way to save credit. Keep in mind that your credit score will drop even lower if you use it while it is in bad shape. Do not keep too much cash and go crazy, just do this until you rebuild your credit score.

5) Limit the amount of credit cards you own.

Just as any other person with good credit and organization skills, you will need to limit the amount of credit cards you have. The more credit cards you have and actively use, the harder it will be to manage your payments. You need to have the ability to track your credit cards, including payment due dates, interest rates, fees, and charges you have made. If you can limit the amount of credit cards you own especially at this time, it will really help in the long run.
About the Author
For more information visit these two websites: Credit Help and IRS Taxes. You can also get home business tips here: Earn Money Online
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