How To Fix Your Credit FAST By Yourself – (Repair Options Near Me!)

Credit Repair Near Me - How To Repair Your Credit Fast

I know how suckie it is to have a low credit score – since you'll be limited in terms of loans or mortgages that you can apply for.

The reason being that, your credit reflects how risky you're in the eyes of lenders – thus, you need to keep your credit healthy.

But the key question is;

‘How can an average person like you fix his/her credit fast – so that you become eligible to apply for better loans or mortgages?

That's what will be answered in this post.

I have gathered some simple techniques that you can implement ASAP – in order to boost your credit score.

After reading this article, you'll be in a better position to go out there and start working on your credit – using some of the techniques shared in this article.

So read till the end if you're serious about fixing your credit.

Disclaimer: I’m not a financial adviser. The information shared in this article is based on personal experience – and it's only intended for educational purposes. You might need to consult a professional financial adviser for professional advice.

With that being said, let’s quickly dive into the meat of this post.

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In order to get started, the first step is to pull your credit report on platforms like Credit Karma, Credit Sesame, or Credit Wise.

Make sure that the report includes all data from Experian, TransUnion, & Equifax.

As soon as you get your credit report, l want you to look at the following metrics:

a) Credit Utilisation

b) Collections

c) Late Payments

These are the main factors that affect your overall credit score – thus, it is important to keep an eye on them.

I will try by all means to explain each of the factors, as well as how you can improve each of them – in order to improve your overall credit score.

a) Credit Utilisation

Basically, this shows how you use your credit cards i.e. are you an extravagant spender or a frugal spender?

It is always advisable to spend less than 10% of your credit amount – so as to keep your credit healthy.

For example, if your credit cards have a combined value of $10 000, you should try by all means to spend less than $1000.

By doing so, you'll be able to prove that you're a responsible person – thus, you'll be considered less risky by most lenders.

By working on this metric, you'll be able to boost your overall credit score by a significant margin – since it contributes about 30% of your overall credit score.

Now, let's assume that you have been recklessly spending most of your credit balance, it's now high time to start paying-off your credit cards.

Although this might take some time, you'll start to see some positive impacts in the long run – since the little payments compounds over time.

And once you've managed to pay a significant margin of your credit card debt, start practicing the <10% rule – so that you wont repeat the same mistake again.

b) Collections

Another important metric to look at is ‘Collections'.

To explain this in simple terms, it's basically a scenario whereby you fail to pay-off your debt within the expected time period (normally 150 + days) – thus, the lender will ‘sell' your debt to debt collectors for a certain fee.

In most cases, the lender will ‘sell' that debt for pennies on the dollar – so as to get some few bucks rather than getting nothing at all.

Thus, the debt collectors will become responsible for collecting that debt – for a profit of course.

In order to deal with this situation, you need to negotiate with the agents – in order to settle the payment.

But remember, these agents pays little pennies for the debt – thus, you wont necessarily need to pay the full amount.

For example, a $10 000 debt can be acquired for $4000 – thus, you can negotiate to pay something like $7 000.

The agents will be more than happy to accept your offer since it is still a profit for them.

Thus, you should try by all means to negotiate payment terms – so that you can pay back the minimum amount possible.

Still on the same issue, it is important to follow-up on the agents – so that you both settle for deletion.

The reason being that, some agents might forget to delete your debt – thus, it will still appear on your credit report even after you've paid it.

c) Late Payments

Another important metric is payment history – since it contributes 35% of your overall credit score.

This reflects how good or how bad you're when it comes to paying your bills.

It normally applies when you exceed the expected payment date by 30 days (the later, the worser).

Thus, it is important to pay your bills on time – so that you wont affect your payment history.

Remember, lenders will look at this metric before giving you a loan – since it reflects how reliable you're when it comes to paying off your bills/loans.

Thus, you should try by all means to pay your bills on time to avoid any challenges.

But assuming that you already have a bad payment history, it is important to start contacting every company that you owe and organise some payment terms.

Although this might sound scary, most companies will be more than happy to negotiate with you – since it is rare for debtors to contact creditors.

Also, it is important to check for errors on your credit report – since there might be some few errors in some cases.

If you find any, simply contact the responsible parties – so that the issue gets fixed ASAP – thereby restoring your actual credit score.

Wrapping Up

So there we go!

These are some of the actionable steps that you can implement in order to improve your credit score.

It's always advisable to keep practicing these techniques – so as to keep your overall credit score healthy.

This helps a lot especially when you want to apply for a mortgage or loan – since a good credit score reflects that you're a trustworthy person who is capable of repaying back the loan/mortgage.