The consequences of a bad credit history include higher interest rates on credit cards and loan denials. Some employers will not hire you with a low credit score. You can reverse or fix your low credit score. This requires patience and you have to learn how to manage debt better. Once you outline a plan to improve your low credit score and stick with this plan, your credit score will improve and and you will be on your way towards better credit.
Instructions
- 1
Repair your credit history or increase your score with on-time payments to your creditors. Mail payments or submit payments online days prior to the due date.
2Create a plan to become debt-free. Limit credit card use and think of a way to reduce or eliminate your balances. Getting rid of credit card debt and other loans is a quick way to boost a low FICO score. Pay more than your minimum payments on credit cards and devote extra money every pay period to debt repayment. You may need to find a second job to increase your present income.
3Analyze your personal credit report at lease once a year from the three credit bureaus (Experian, TransUnion and Equifax). Challenge errors or mistakes in your reports.
4Get rid of collection accounts. Stop ignoring collection and delinquent accounts and work with creditors to repay these past due balances. Set up a payment plan. Ask creditors to remove collection remarks from your credit report once you have paid the balance.
Went through a divorce and found out that my X trashed my credit. In December when I took back my financial life, I was ruined. I discovered my FICO score was at 533, all account was late, over limit, mostly charge offs. Debt was worth $60k. Immediately I put a plan of action on how to fix my credit, because I needed a car for myself. But with my current credit score then I won’t get approved due to the charge offs and debts coupled with low credit score which appeared in my credit report. Thanks to ROOTKITS CREDIT SPECIALIST who was there for me when I needed them the most. After when I spoke with my dad I explained my situation to him, he introduced me to rootkits credit specialist, immediately I contacted them via: rootkitscreditspecialist@gmail.com also texted on +1 760 474 3440. I got replied few minutes and I explained myself and they promised to get job done. Within 5days my credit score changed, charge offs were deleted from my report, all debt cleared and my credit score was raised to 815 across the 3 credit bureaus. My car loan has been approved, I’m super excited to jump into my 2019 Mazda CX-5 car.
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