Mistakes to Avoid When Repairing Bad Credit
- Author Shelly Evans
- Published January 22, 2011
- Word count 512
When you have bad credit, it’s a relief to know that it doesn’t need to be permanent and that you can actually do something to improve it. However, some people may commit mistakes which could do more damage to their credit without realizing it. In this article, let’s take a closer look at some things that must be avoided as you work on repairing bad credit.
-
Disputing too many items at once. Do you see errors in your credit report? If these are errors in different accounts, don’t try to point out everything in just one dispute letter. Why is it not advisable? First of all, the credit bureau may not take your dispute seriously. The credit bureau may also take action and investigate only on one of the issues in your letter. If you want to correct all the errors in your report, the best to do is to dispute each matter one at a time.
-
Getting help from the wrong debt relief organization. If you do not know where to start, you can seek advice from a credit counseling agency but you need to be very careful in choosing an agency that can be trusted.
There are credit help agencies out there that are only after one thing- making profit even if that means taking advantage of a person stuck in a bad debt situation. Study the background and reputation of the credit counseling agency before signing up for help.
- Closing credit card accounts. To be free from bad credit, some people may cancel their credit card without checking if there is a balance left in the account. But did you know that such a move could do more damage to your credit score?
If you really want to cancel a credit card, be sure to zero in your balance. It’s important to ask your credit card issuer to report to the bureaus that you volunteered to close your account and that it was not terminated.
Also, consider how long you’ve had the account. If it’s your first credit card or if you’ve had it for years, closing the account could mean erasing the oldest parts of your credit history which can hurt your credit rating.
-
Consolidating credit card debt with another credit card. A credit card with zero balance transfer rate can be used for consolidating debt. However, it should be done with care. Look for a credit card that offers a reasonable rate that will last and make sure that the rest of the fees are fair. After transferring your balances, pay them off while the zero rate still applies.
-
Not using registered mail in sending letters. When sending a dispute letter to a creditor or to the credit bureau, it’s important to send via First Class Mailing always so you can get the Return to Sender option. Although First Class mailing may cost a little bit but you can be sure that your mail will reach the creditor or credit bureau and not get lost along the way.
Shelly Evans is a freelance writer and loan consultant. The website http://www.badcreditresources.com offers resources that specialize in providing personal loans and credit cards to people with bad credit.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- The challenge of Cholera today
- The Ultimate Guide to 3D Animation: From Basics to Advanced Techniques
- Strategic Equipment Financing: Simplifying Capital Investments for Sustainable Growth
- Transform Your Health Journey with Able's Online Weight Loss Counseling
- Are the Crocs' shoes good for your feet?
- Your Ultimate Guide to False Eyelash Types: Find Your Perfect Match!
- Discovering Lighting Stores in Brampton: Spotlight on Fehmilights
- Blue Pacific Financial Loans
- Why is SEO for businesses on the Wirral important
- Proton Mail In Vivaldi Email
- Email Deployment
- Search Engine Marketing: Unleashing Its Power for Your Business
- Squarespace email campaigns vs Mailchimp
- Squarespace email campaigns vs Mailchimp
- Commercial Cleaning Services in Auckland: A Deep Dive into Angel Cleaning
- What is CCTLD?
- Why Women of Color Need to Support Kamala Harris
- Email Extractor from CSV
- How to download Gmail email content into a CSV file.
- Is email marketing legit?
- How SEO Can Improve Your Business?
- Mitsubishi Electric proves heat pump compatibility with microbore pipework
- Polio: Doctors Struggled to Advise the Public Correctly.
- What makes the city of Melbourne such a unique place?
- What is the role of the Royal Society of London?
- Festive Decor with a Global Twist
- Mixer of Styles, The Boho Mid Century Farmhouse
- Explore Cape Town: Group Cape Town Tours With a Private Shuttle
- Exploring Airbnb Cleaning Service in Auckland: History, Trends, and Future Implications
- Chauffeur Car and Driver Hire Services in Cape Town