If you have a bad credit score, it can have an impact on many aspects of your life. You may have trouble getting approved for a loan or credit card because of mistakes you made in the past, or you may find that some companies may be willing to approve your application but only at a high-interest rate. This can be costly, and it’s clear that some steps need to be taken to improve your credit. A question you may have is “Who can help me fix my credit?”
Actions You Can Take
There are many companies that claim to be able to fix your credit as long as you pay them a monthly fee or a large sum of money with no guarantee they’ll be able to fix your credit. Before you rush into paying someone to try to improve your credit, there are a few actions you can take on your own. These include:
- Get caught up on past due bills. If you hope to fix your credit, the first thing you need to do is get any past due bills current. If you’re not able to do that, get in touch with your creditors to work out a payment plan.
- Always pay your bills on time. The one thing potential creditors all want to see is that you have a pattern of paying your bills on time. If you haven’t been paying attention to due dates, it’s time to start paying on or before your due dates. If you think you may have trouble keeping track of due dates, set up automatic payments with your creditors or sign up for reminders to let you know when your due date is approaching.
- Borrow less. Your revolving accounts have a credit limit, which is the most the creditor is willing to let you borrow. That doesn’t mean you should max it out and borrow the entire balance. Most experts advise that consumers keep a balance that is no higher than 30 percent of their available balance. If your outstanding balance is higher, work on paying it down. Consider consolidating credit card balances into a personal loan, but if you do that, avoid immediately using your credit card again.
It’s also a good idea to avoid applying for new accounts too often. If you open several new accounts in a short period of time, you may appear to be a high credit risk to potential lenders.
Errors on Your Credit Report
Be sure to check your credit reports on a regular basis to make sure there are no errors. If one of your creditors is reporting an incorrect balance or late payments on an account that wasn’t late, this information needs to be disputed and removed from your credit report as soon as possible.
If you need assistance disputing errors on your credit report so that you can work toward fixing your credit, Dovly can help. Dovly is an AI credit engine that can help you dispute any errors you find on your credit report. Try it risk-free with our free membership tier. Get in touch with Dovly today.
