How to Repair Your Credit Status and Improve Your Credit Score

Without a doubt, there is nothing more unsettling than having debt lined up and collection agencies call you to pay back your debt. Once you’ve paid it off, you may feel like the biggest burdens in life have been lifted from your shoulders. However, what happens after you’ve paid back your debt? Do you spend your sleepless nights worrying about your financial or credit status and will it ever go away?

Should you look more into your “credit status” and try to improve it, or should you neglect the idea altogether?

In the famous words of Bert Lance, “If it ain’t broke, don’t fix it.”

In the case of having a negative credit status or terrifyingly low credit score, we suggest that you indeed should.

Fixing your credit score will take time

Well, of course, nobody wants to hear that, especially because you’ve already paid off your debt and can’t be bothered spending more time worrying about anything related to it.

Unfortunately, there are no quick fixes, and should you ever be offered such, you should know that it is bound to backfire somehow. Debt assistance for improving your credit score fast will only get you into more trouble. The best way to repair your credit and get it in the clear is to manage it responsibly and remain consistent over time.

If you’ve failed to do so in the past, then you should divert your attention to repairing your credit history. By doing this, you’ll be able to improve your credit score.

How to salvage your debt and improve your credit score

The best way to repair your credit and improve your credit score is to make payments on the correct dates. If you’re still up to date with your payments, you should continue to pay on or before the required date to maintain your credit score. However, if you’re account is in arrears, you must arrange a payment date with the relevant debt collectors, credit card or loan providers, to ensure your credit score won’t be disrupted too much. Failing to pay any type of debt according to the correct dates, could completely disrupt your credit and derail your credit score.

Another way to improve your credit score is to reduce the total amount of debt you have. This can only be done if you stop using your credit cards. To reduce the amount of debt you owe, you must take note of all the credit providers you owe and create a payment structure for yourself, to ensure that you are reducing your debt effectively each month. By making regular payments, you’ll be able to repair your credit score in no time.

Tips to help you stay on track with paying off your debt and protecting your credit history

  • If you’ve skipped a payment, reschedule the date of your payment and stay up to date each month.
  • Remain aware that just because you’ve paid off your debt or collection account, does not mean that it will be removed from your credit report.
  • Always pay your bills on time, no exceptions.
  • Should you have trouble paying your overdue accounts, consult a registered credit counselor or contact your credit providers to make a proper arrangement that suits both parties.

Get debt counselling and debt review help from Credit Matters. Call us today! 086 111 6197