How to Fix My Credit and Check My Credit Score

A bad credit score won't do you any favors when you're seeking financing. Having a poor history of debt management is stressful and difficult to overcome. Difficult, but not impossible. With the right strategy and a positive attitude, you can repair your credit. The first step is to obtain your credit report so you know exactly where you stand. Once you determine the damage, you can go about fixing it. It won't be easy and it will take some time, but be smart and stick with your plan and you will see improvement.

Instructions

1

Obtain a copy of your credit report from the government's Annual Credit Report website. You are entitled to one free copy in a 12-month period. The report pulls your scores from the three major bureaus: Experian, Equifax and TransUnion.

2

Review your credit report for errors or inaccuracies. These can make an already bad credit score even worse. Contact the credit bureaus immediately to begin the removal process, since it can take up to 30 days to remove the incorrect information.

3

Identify the major problems in the remaining items. Rank them by severity of delinquency. Plan to attack the more damaging items first.

4

Create a budget. Start with necessities like rent, mortgage, insurance, utilities and food. Next, allocate funds to the debts listed on your credit report. See if you have enough to meet your minimum payments.

5

Contact your creditors and attempt to negotiate. Don't deal with the first person you contact. Specifically ask for somebody with the authority to modify your account. Ask for a lower rate, reduced payments or even a reduced principal amount. Show a willingness to work with your creditors and there is a good possibility they will work with you.

6

Stick with your budget and make your new payments as agreed. Once you become delinquent on a modified plan, you will ruin the good faith you've built and your creditors will no longer be sympathetic.

7

Run your credit report again after a year of steady payments, and see how you've progressed. You can also pay for a copy in a shorter time frame if you are willing. If you've stuck to your budget and worked with your creditors without falling back to delinquency, you should notice an improvement in your scores.