There are several things you should know when you begin the process of credit score repair. Many of those things include things you can do to immediately improve your score, things you shouldn't do, and free counseling available to you.
If you are thinking about working on your credit score repair then the first thing you should do is order a copy of your credit reports. You should verify your contact information is correct. Did you know that by updating just your phone number and address on your credit report it will raise your score one point? Most people don't. The first thing you should do is update all of your personal information with the credit reporting agencies. Yes, this will make your contact information available to your creditors and the phone might start ringing a little more than it already was but since you are on the path to credit score repair then it will be fine.
If you receive your credit reports and you realize that all of your debt is too much to handle and you don't think there is any way you will ever get out of debt then you should seek credit counseling. There are many free credit counseling companies who can help you organize your debt and come up with a positive plan that will work best for you in paying off your debt.
When you are working toward credit score repair then there are certain things that you should not do. The biggest thing you shouldn't do is apply for credit while you are trying to improve your credit. One of the first things listed on your credit report is a list of all of the places who ran your credit score when you have applied for credit. You might see utility companies or credit card companies who have turned you down in the past. The more your credit score is ran by companies when you apply for credit, the lower your score will get. That is right. Every time you apply for credit it is a negative impact on your score. This means that if you are applying for credit through credit card companies and other sources while you are paying off your debt, you might not see improvements on your score. Leave your credit alone while you are paying off your debt. Your score will increase faster.
When you are working toward credit score repair you need to keep your debts organized. Pay on each debt as you can. Be sure to get proof of payment for each debt paid. This might be a slow process for you but it will pay off in the long run.
Credit score repair is a good idea. There are quick things you can do to immediately improve your score like update all of your current information. You should remember not to apply for credit through any company while you are trying to improve your scores, no matter how tempting it is to see if you would finally qualify for something. Also, if the process seems too overwhelming for you to handle on your own, remember you can seek help from free credit counseling companies who can help you and relieve some of the stress.