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Are you suffering from a bad credit history? If yes, you are not alone. There are millions around you suffering from the same problem. Do not fall prey to companies, who claim to know the shortcuts and loopholes of credit repair. They may even land you in legal troubles by creating a completely new file and suppressing the facts. Here we shall offer some sure shot measures on how to repair bad credit to help you heal your credit ratings. 1. You must stop using your credit cards as soon as possible. You can keep away all your credit cards except the one that you might need during the emergencies. You might find it difficult to get a new credit card with poor credit score. You won’t worry about applying, when you have at least one account open. 2. You must be honest with yourself while evaluating your financial status. You can come out of your debt only when you understand your financial situation well. 3. Look for errors. It is hard to believe but true that nearly 40% of credit reports have errors in them. In case you find any errors, you must report it to them. You must only use a certified mail to keep track of when you received a mail, who sent it to you and also who received mail on the credit bureau’s end. You can then ask the credit bureau to send you the corrected report to those who have requested a report on you in the past 6 months. 4. Look for the omissions. Legally you are allowed to add information in your report that can improve your ratings. 5. You must have a plan in mind. Whether you look for another job, go for credit counseling, pay your bills or file a bankruptcy, make sure to stick to the plan. Your credit score will improve only when you make a plan and take an action. 6. Creditors do not want you to default as they want their money. Most of the creditors shall work with you to devise a reduced payment schedule. If you can keep reporting to the credit bureau, your credit score won’t be affected. So, make it a point to stick to the new negotiated plan, as in that case the creditors won’t renegotiate in case you fail to comply. 7. Time is the best healer. Most of the items get dropped after 7 years. This can be good news in case you are trying to correct and improve your credit. Most of the bad items will get dropped with passage of every year and good items will be included. This will eventually heal your bad credit score. These are the simple steps that must be followed to make your credit score look healthy every day. This can lead to a complete path of recovery. Wish you all the luck in your attempt to heal your credit score! Leaf Credit Solutions can help you improve your credit scores by determining your credit history. Get in touch with our experts if you are worried about how to repair bad credit. To know about credit repair organization act, you may also visit Wikipedia.
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