Having a bad credit score may stop you from getting the best financing deals. You may still find home loans or auto financing however they just end up taking more points away from your less than perfect (or more aptly named as a couple of points higher than 100) credit rating.
To resolve this, do you find a bad credit repair company, do you do this on your own by buying a self help book or do you just pray to the gods so hard your knees start to get calluses? There is no fast track bad credit repair solution in the market (although some companies may claim this), it will take hard work but here are some ways that you can help your credit score:
1. Bad credit repair companies
They may cost more but professional help is always the best. Just beware of scam artists who ask you to pay a large sum before any type of service or result is provided. Do not fall prey to those who also advise you to scam your own credit information as legitimate credit repair companies would never ask you to do that.
2. Do-It-Yourself books
Check your local library as you may not have to buy the book to actually read it and gain its knowledge on bad credit repairing. There are a lot of them out there like Credit Spurt, How to Get Out of Debt, Stay Out of Debt & Live Prosperously (Based on the Proven Principles and Techniques of Debtors Anonymous), Debt-Free by 30: Practical Advice for the Young, Broke, and Upwardly Mobile and Credit Card Debt: Reduce Your Financial Burden in Three Easy Steps.
3. Personal credit check
You may want to check out your own credit information as this can help you asses your situation more fully. It is totally free and you can check the three credit bureaus for this: Equifax, Experian, and TransUnion. Once you have obtained a copy of your own credit rating, you may want to double check the details. The details of your report maybe in error like cards that are no longer active but still have balances in them or debts that are already fully paid but are not updated. It also happens, much like in identity thefts, that some debts are placed under your name without in point of fact having had availed of them. This will require legal action to take care of and initiate a bad credit repair.
4. Pay them off
And the obvious but not so easy to do, paying off your outstanding debts. Instead of buying that HD, flat screen TV that you have been salivating about, why not pay off that red total on your VISA that comes every month? Put off a shopping spree in Hong Kong and use it to pay your mortgage. It may not be easy to do especially if you are used to living it up, but who says bad credit repair is easy?
These are just some of methods of bad credit repair. Some may find it easier to let the professionals do it but others may have qualms in having to pay services when that money can be used in repairing real debts. Whichever step you decide to take, you need to thoroughly think it over.