When the credit report is in your hands, review what is on it. If you know for a fact that a certain issue has already been resolved, send a letter to that credit agency together with the supporting documents so your credit report can be corrected.
For those who have outstanding balance, the case is different because you need to pay for it before you can get a settlement letter which should also be given to the credit agency for filing.
Until that happens, you have to find some way to pay for it. You can get better terms by getting a debt consolidation package which is designed to buy you some time at lower interest rates.
Surprisingly, credit repair may be as simple as borrowing money since your credit score may not improve unless you apply for a loan. You don’t have to borrow a lot since a small amount like $500 is enough to get the ball rolling. Again, just make sure this is paid in the agreed upon time and in full.
After reading this, you already have a clear picture as to why credit repair is needed. Could it have been avoided? The answer is yes but it is too late to think about that when the important thing to do is focus on the situation.
Credit repair may be simple or complex and if you can’t do it alone don’t be afraid to ask help from a credit counselor. It won’t be long when you will once again be in good standing and you will once again be given a line of credit.
So you don’t need credit repair again, monitor your expenses and do not spend beyond your means.