A little credit repair advice
Posted by admin on October 9, 2008 in Finance :: Mortgage & Debt
It’s difficult for me. My job is in a credit card company, looking after accounts that go into default. You see some sad cases where people default on their payments through circumstances out of their control and you see a lot of people who handle their credit very badly; just spend money till they max out run out of places to borrow from. It’s not my job to advice people how to run their affairs, but if I did I would give them this piece of advice. Never borrow to the full extent of your credit limits, be realistic, and always keep three months credit payments in reserve in case of problems. If things do go wrong, speak to your creditors, try and make a payment plan. The credit repair steps are actually pretty easy if you can change your ways and are willing to put in a little work by writing letters and making a few phone calls. If you find this difficult or embarrassing it may be worth your while to appoint a credit repair company to help you. They will be able to prepare an assessment of your debts and how soon you can pay these sums back, and help you to restore your credit score.
