We all can achieve a great sense of accomplishment by tacking a project on our own. Nothing can beat the simple pleasure of changing a tire or building a piece of assembled furniture. You did it yourself. There are other DIY projects that don’t involve physical labor such as preparing your own taxes or upgrading your computer’s RAM. However, of all the do it yourself projects you could undertake one of the most important would be to fix your own credit report. A decent credit score could be all that stands between you and obtaining the rewards of your success like a new car or home loan. This is why tackling your credit repair job shouldn’t be put off until tomorrow; get started today!
At the very moment you receive your first call from a bill collector you can bet that your credit reports has taken a hit. Circumstances like a loss of wages or emergency medical expense can lead to several payments being missed. When that happens, your credit card interests sky rocket and within a matter of weeks, you’re in over your head with missed payments and huge late fees.
Get the Facts
The first step on your DIY credit repair project is to get all the facts. All you’ll need are your credit card statements and your credit report. Both are available for the asking. If you’ve switched over to paperless billing to save the economy then switch back. It’s the easiest way to keep track of your spending and fees by having a hard copy available. As for your credit report, you can get free copy of your report at least once a year. That’s actually one law we should all be following.
Your credit report will not only show you your current situation, but it could also point out some issues that are in error. Any time you can make a correction to one of these errors it can bump up your credit score. These you can fix yourself by contacting the agency who is reporting the error and showing them proof you made the payments.
Make the Call
The next step for your DIY credit repair is to contact your credit card companies to discuss your options. Although these might seem like faceless entities out to get your money, they actually can be very cooperative if you give them the opportunity.
Pay On Time
A bill collector is another situation all together. These are the independent agencies where your unpaid accounts go to and these are the folks that can be ruthless in their attempt to collect money. You can avoid these hassles by making your own contact and arranging a new payment schedule. It’s not as complicated as you might think. The real problem will occur if you do nothing. Ignoring missed payments won’t make them go away. When it comes to fixing your credit, taking the proactive approach is always the best approach.