1. Instill discipline when it comes to managing your finances. Dont make matters worse. Youre by now in tight situation, so save yourself from more trouble. This means that you should minimize your everyday expenditure, stop relying on your credit line, and begin to put aside cash for paying your over dues. Your overdues wont be fixed without you doing anything about it. In the end, you will need to look for methods to collect sufficient funds for the accomplishment of the same, and this starts by instilling discipline in the financial aspects of your life.
2. Settle your dues. As we have mentioned previously, your overdues wont be fixed without you doing something about it. They will not vanish. You will have to find ways to fulfill them. Credit repair starts with the satisfaction of your existing debts.
3. Utilize old credit cards. Heres a neat little trick. Industry experts suggest unearthing your old, but valid, credit cards. Because their time of issuance should be earlier than your current credit lines, credit bureaus will give them greater weight, given that they are still active for an ample span of time. Utilize your oldest credit cards every other month or so, by making small purchases. Then promptly pay the bills as soon as they arrive. This way, credit bureaus will take notice that you are accountable with your previous credit lines, and that will manifest positively on your credit standing.
4. Question doubtful statements. If you have purchases on your credit card bill that you think you didnt buy, question them immediately. They will be isolated from your records, and they will be excluded in calculating for your FICO score pending their motion.
5. Question all the inaccuracies you will see. Some erroneous entries in your credit record can significantly affect your credit score. Your credit record may reflect a lower credit limit than what you have been afforded, for example. Or due dates may have been wrongly put, showing how more behind you are. Examine your credit statement carefully, and have these mistakes corrected at the soonest possible time.
