The ABC"s of Restoring Credit

Repairing your credit is not hard as long as you have patience, time, and discipline.
One obvious thing to do is to reduce balances.
Maxing out credit cards decreases your credit score.
Try not to spend more than sixty percent of the card's limit.
It is recommended that you only spend twenty percent of your cards limit.
If that is impossible for you call your card company and see if you can get your limit increased.
If your credit is too poor to get a regular card you can sign up for a secured one all the while keeping the limit under twenty percent; this is especially important if your card is new.
Another thing you can do if you cannot get your own card is to sign up for a family member's card as an authorized user.
This is a quick way to boost your rating but you must also be careful that you do not hurt your family member in the process.
It is okay to get more than one of these accounts.
Fourth, do not procrastinate on the repayment of loans.
The lenders are there to help you pay the loans back.
It is also very important that you do not throw away any collections letters.
Under the Fair Debt Collection Practices Act you have thirty days to force the collector to validate the debt.
If they do not have proof that the debt is yours they must cease all collection efforts and not report to the credit bureaus.
It is important not to be desperate.
Do not be so desperate to get your credit together that you end up paying an account that may not be yours.
Exercise your credit rights and clean your credit score up.
If all else fails call a professional to help you get your credit back on track.