Creative Methods For Fixing Your Credit

If you have hit a rough financial patch and need to improve your credit, it can be done over time. Paying your bills on time every time is the best way to fix your credit, but there are some tactics that can help improve your credit report.

Have creditors add good information to your credit report
Creditors are not required to report information to any of the three credit bureaus. After obtaining copies of your credit reports, be sure to note if there are any creditors that you have a good history with that have reported.

If not, contact them and ask them to release the information to the credit bureaus. For a small fee, a credit bureau will contact your creditor. Simply call and give the credit bureau your creditors name and phone number. Positive repayment information can help negate some of the negative information on your credit report.

Add a statement to your credit report telling your side of the story
You may include a 100-word statement to your credit report to explain negative credit reports. Write each credit bureau a letter and ask them to include your statement in your credit file. State the facts about your situation. If your credit history shows that you typically pay your bills, a statement can explain away an isolated instance or period of bad credit.

Work with creditors to clear your credit record
If your poor credit resulted from circumstances that were beyond your control, like illness or losing your job, keep in contact with your creditors. Once you have reconciled your account, your creditor may be willing to remove negative information from your credit report or at least report you’ve brought your account current.

If you can’t make your payments, contact the creditor and propose a pay-off schedule. If the creditor has charged-off your debt, they may work with you. You may be able to work out a proposal in which you make partial payments, and the creditor, consequently, changes the information it provides to your credit bureau. Be sure to get your agreement in writing.