If someone has bad credit how do you repair it?
First, pay off or catch up all past due collection accounts and any revolving accounts you do still have out, make sure you make your payments on time.
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All the best to you.
First get a copies of your three credit reports there are plenty of websites where you can get 1 free copy per year if depending on what state you reside in.. or if you have a negative mark on your credit. Try Experian and they should have an option to get the 3 in 1 report. You can elect a snail mail copy or an instant access downloaded copy.
Go through your credit reports (ALL THREE because most times the information is slightly different.) Check all of your accounts, transactions and take inventory of what's right/wrong. If you find discrepancies you will have to start making phone calls to investigate and clear up any incorrect information.
If you find the information is correct then gather up your cash and get ready to negotiate with your creditors. Most of the time if you have the money you can negotiate to reduce any payoff amount. For example, my co-worker had a $23,000 credit card debt that was sent to collections about 2 years ago. He called to collection agency and offered $10,000 to wipe the account clean and they accepted.
Prioritize your list and put together a game plan to pay off your debts. You can try consolidating the debt if the numbers work out in your favor. Stay consistent with your payments and within 6 months you'll see your credit score climb...
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