You can improve your credit score! Bad credit doesn’t have to be a long term state of being!

If you are constantly being turned down for loans. Or been told that you need to provide a security deposit for your utilities. Then you probably need to do some work on your credit.

Credit repair doesn’t happen over night and it’s important to recognize that it’ll take time, combined with a lot of discipline, if you decide to make to fix your credit or hire a company to fix your credit for you. But, the results can be well worth the attempt.

Here at BadCreditResources.com we pride ourselves on providing you with the tools to improve your credit on your own, or if you choose to, we have links to a reliable credit repair service. If you don’t know where to even start with your credit repair journey then you have come to the right place. This site has hundreds of tricks and different tips to help your get your credit situation under control. Only read on and start to get your life back together.

Adjust your thinking and preconceived notions of credit repair

Most people approach credit repair just like they do weight loss. The first thing they do when they try to lose weight is to throw out all the “junk food” or carbs in the house. That may work for weight loss but not credit repair. Resist the temptation to cut up and throw away all of your credit cards. Its better to create a plan to start paying off existing debt and removing negative and erroneous items on your credit report.

You don’t want to close all your credit lines for another good reason. You need to be able to show lenders that you are a responsible payer. If you close all your credit lines you lose a good opportunity to change the way potential lenders view you.

This is not the time to go shopping for new lines of credit

While its important to build credit while you repair your negative items. You need to be smart about it. Look for lenders that will approve clients with bad credit. Do not foolishly apply for every credit car or line of credit without first reading the requirements. If they require a good credit rating, then don’t apply. Even if you have a low debt ratio! Most companies use a computerized process for approving new customers. If you don’t have the credit score they want, you are wasting your time AND hurting your credit. Numerous pulls on your credit report at one time will result in the lowering of your credit score. Inquiries will stay on your credit report for 24 months.

If you need a bad credit personal loan – look in the right places!

The amount of debt you have on your credit report will effect your credit score greatly. For some people, apply for a debt consolidation loan will help them a lot. But some people can not get approved due to their credit score. That’s when a bad credit personal loan may come in handy.

Make a list of your debts, including amount of debt and interest rate you are paying.   Do your research.  Find out w/ the bad credit loans interest rate will be.  There is no point in moving debt onto a higher interest rate line of credit.

Tip:  Keep in mind that bad credit personal loans tend to have a higher rate than regular personal loans.  You can qualify for a rate reduction if you have some form of collateral. If you cease making payments, the  lender may repossess your collateral.

Start forming good credit habits

• Sign up for automatic bill pay so that you never miss a payment.
• Create a budget plan that will allow you to pay off your debt quickly.
• Strive to bring down your debt to income ratio to 30 %

In Japan, they have a method of doing things called the Kaizen method. It takes big task and breaks them down to small steps. Credit repair is like that. Make it your goal to do something everyday to improve your credit situation. Get in the habit of monitoring your credit. And really watch your budget. If you have a lot of negative and incorrect items on your credit report, dispute them. If you are not comfortable with that. Contact a reputable credit repair agency to help you.