This article will guide you through a step-by-step credit repair process so without any introductions, let’s get started!
These are the exact steps you need to take with an explanation of the reason behind each below this list.
1) Get copies of your credit report from TransUnion, Equifax, and Experian.
2) Overview your credit report watching closely for errors (bills you did not accumulate)
3) Dispute any errors on your credit report immediately with the three credit bureaus listed above.
4) Once your report is clean, start saving money and cutting back while increasing your income but continue disputing other debts that may occur if necessary.
5) Lay out a budget that matches your monthly installments, and establish a separate budget that comes close to your debts as possible. Create a budget that meets your demands on survival after you have cut back funds.
6) Finally, start paying on your secured loans first, and work through your unsecured loans gradually. If you follow these steps to the letter, you will eventually see where it pays off.
Your primary reasons for doing this:
Reason #1 We can see we need to know where we are out before we can get out of our situation. Having a basic overview of your report regularly can prevent your credit scores and ratings from being affected by errors or identity theft.
Reason #2 This is a basic outline of where you are at, where you are going, and how you will get there.
Reason #3 If you find errors on your report, the first thing you want to do before paying your debts is to clear up the errors that has been placed on you.
Reason #4 Obviously you want to find a solution to repairing your credit, so if you save money by cutting back, finding a way to make more money, and budgeting, you will have a guaranteed strategy to getting out of debt.
Reason #5 Your budges should always match your financial situation and allow you to repay your debts yet survive in the process.
The budgets you set if carefully developed, will allow you additional funds for savings if you plan your strategy correctly.
Reason #6 Once you have begun paying off your credit you will notice results almost immediately.
Is it’s worth all the hard work?..
Doing the required work may seem daunting but I can promise you, the rewards are great.
There may be a rise in your self-esteem and confidence which is the start of a better future for you because there is nothing more rewarding than being free of financial obligations!
Your friends, family and neighbors may even wonder how they can accomplish what you have.
If you follow the steps you will not only notice results of relief, you will also notice an increase in your income.
In addition, if you have any debts that have not hit the collection agencies, find a solution for getting those bills up to date.
You can call your creditors in the first four weeks of late bills and let them know your situation, including your financial status to repay the debt. Often creditors will make arrangements for you to pay each month on your bills.
Make sure you meet your creditors’ expectations, since they took a chance on you in first place.
This is the ultimate credit repair system that will get you out of debt!