subject: Do You Have Bad Credit? [print this page] There are two basic paths you can take to fix your credit. You can always do your own research and handle the situation on your own. Or, you can seek outside help to assist you in taking the right steps and guide you along the way. There are things to consider no matter which direction you choose. Depending on your situation, one path may be better than the other.
The same resources these credit repair companies have are also available to you personally to help increase your FICO scores. This includes the ability to call the credit card companies and negotiate a lower payment that meets your financial situation or budget. Many credit card companies see this as a positive step in your financial responsibility since most people just stop paying their bills all together as the alternative. The truth is, all they want is for you to make a payment, any payment will do, so by coming up with an affordable payment each month benefits them as well as you.
Most of the time you can solve these problems quite easily by getting a copy of your credit report and looking for mistakes or errors. The majority of companies are willing to fix anything they have reported in error. However, sometimes if there is something lagging, you may need a professional to help. There are many lawyers available that will draft you a letter to these companies for a fee.
There are many situations that it is beneficial to contact an outside agency for assistance. There are many companies, including non-profits that can help you overcome almost any credit crisis.
The best advice is to take action now and do anything you can do each day to improve your situation. If it involves calling your creditors and asking for assistance in lowering your interest rate so you can afford the payment each month, do it! The longer you avoid fixing your credit, the deeper you end up in the sea of debt and despair. Even if it only brings your score up by 1 point, do it. It will pay off in the long run. Soon you will find yourself in calmer waters ready with clean credit. It's well worth the time and effort. Be consistent and dedicated and you will have better credit within the year.
