If you are looking for ways to fix your credit score fast, then read on. Because of the huge amount of time required, more often than not, like to discuss this procedure in terms of simply repairing or re-establishing your credit instead of actually repairing your credit score. Fixing it fast sounds like such a fast process, however apart from a few exceptions, repairing usually involves a significant amount of time.
For this reason, the best way to start fixing your financial situation is to do so gradually. Start small, such as paying down your debts one by one. Start with the smallest payments and work your way up the scale. Pay your minimum balances on all your accounts except your payday loans. This will give you an idea of where you stand. If you have enough cash on hand, you can even transfer the balance from your card(s) to your savings account.
Now that you have an idea of what your position looks like, start removing the smallest debts from your current list of creditors. The more debts you remove, the easier it will be to raise your score. Keep in mind that it will take at least a few months before your debts are gone. Do not get frustrated if you have to deal with unruly creditors as this is only temporary.
Once all your debts have been removed, contact each of your creditors and inform them that you are now officially retired from the field of credit cards. Explain to them that you are now working full-time on other accounts first and that you would like to move all your payments to these accounts first. It is important that you leave the door of communication wide open with your former creditors. Let them know that you have been working with your financial advisor and are now working on your other remortgage. Explain to them that they should continue to work with you until all your debts have been fully resolved.
Next, get a quote for your remortgage from a reputable company. Fix your credit repair so it will cover the monthly payment and not make a hole in your pocket. Get professional help to negotiate for a low-interest rate. This will be the best way to fix your credit score.
In conclusion, it will take at least a month before you will be completely debt-free. Just be patient as this will be a very slow period of time. Another important step in credit repair is to review your available credit reports carefully to see what mistakes you made in the past. Use the services of a credit counselor to find out what accounts are open on your account and close. This will be very helpful in determining your new credit score.
This post was written by Kristian D’An, owner of Lux Credit LLC and CCA board certified credit repair specialist. Lux Credit offers credit repair services for those looking to improve their credit!