Your desire to "fix my credit" is really simple. Get your debts paid using the 10% solution. Pay yourself first, and the confidence and attitude that builds from having money in the bank will help you as you work on your credit report. Simply put 10% away and then pay your bills. You are your most important creditor. This will help you create an emergency fund in case of disaster. When you have money in the bank, you'll feel much better about tackling your big problems. If you are going to get serious about the steps to "fix my credit please", you need to adopt the 10% solution.
Debt snowball strategy goes hand in hand with the 10% solution at helping you "fix my credit." [http://www.fixmycredittodayblog.com/2009/11/07/how-do-i-fix-my-credit-after-ive-been-turned-down/] There are a lot of places to read about the snowball strategy. Start with all your debts. Line them up by interest rate and minimum payment. Normally, you will work from the highest interest rate to the lowest interest rate. Every debt except the one with the highest interest charge gets the minimum payment. The highest interest debt gets everything you can throw at it. All income that is not part of your 10% or part of paying for absolute necessities goes against this debt. Once this debt is removed, you can move to the second on your list. Take all the money from your first debt, add it to the second debts minimum payment and keep building your snowball.
The steps you need to take to "fix my credit" have three simple parts.
First step is to figure out where you are exactly as far as your credit report is concerned. You can do that by getting a copy of your current report for free at annualcreditreport.com. You can't know if you are making progress in improving our report if you don't know where you began. Getting your report is a good first step.
Cut your spending to only the required items. No discretionary spending. If its required to live, then you can spend it. Otherwise, blast your debts using the snowball strategy above to get out of debt quickly. Remember your goal is to "fix my credit." Everything you spend outside of what's needed to live takes you further from you goal.
Talk to your creditors about reducing what you owe. This can take the form of interest rate reductions, balance reductions, or smaller minimum payments. This can give you greater leverage at getting your bills paid and lead you closer to an answer of "fix my credit."
Getting our of debt needs to be your focus. Its the single best way you can work to "fix my credit." This strategy will pay off better in the big picture than any other strategy you can use. While the game of "what's my credit score," can be confusing, it really has a couple of easy parts. Its a collection of the history of how you pay your debts. To achieve your goal of "fix my credit", make your future better than your past.
Debt snowball strategy goes hand in hand with the 10% solution at helping you "fix my credit." [http://www.fixmycredittodayblog.com/2009/11/07/how-do-i-fix-my-credit-after-ive-been-turned-down/] There are a lot of places to read about the snowball strategy. Start with all your debts. Line them up by interest rate and minimum payment. Normally, you will work from the highest interest rate to the lowest interest rate. Every debt except the one with the highest interest charge gets the minimum payment. The highest interest debt gets everything you can throw at it. All income that is not part of your 10% or part of paying for absolute necessities goes against this debt. Once this debt is removed, you can move to the second on your list. Take all the money from your first debt, add it to the second debts minimum payment and keep building your snowball.
The steps you need to take to "fix my credit" have three simple parts.
First step is to figure out where you are exactly as far as your credit report is concerned. You can do that by getting a copy of your current report for free at annualcreditreport.com. You can't know if you are making progress in improving our report if you don't know where you began. Getting your report is a good first step.
Cut your spending to only the required items. No discretionary spending. If its required to live, then you can spend it. Otherwise, blast your debts using the snowball strategy above to get out of debt quickly. Remember your goal is to "fix my credit." Everything you spend outside of what's needed to live takes you further from you goal.
Talk to your creditors about reducing what you owe. This can take the form of interest rate reductions, balance reductions, or smaller minimum payments. This can give you greater leverage at getting your bills paid and lead you closer to an answer of "fix my credit."
Getting our of debt needs to be your focus. Its the single best way you can work to "fix my credit." This strategy will pay off better in the big picture than any other strategy you can use. While the game of "what's my credit score," can be confusing, it really has a couple of easy parts. Its a collection of the history of how you pay your debts. To achieve your goal of "fix my credit", make your future better than your past.