Before we roll up our sleeves and take the gloves off I highly recommend that you bookmark this article. You will need to refer to it repeatedly. I also recommend that you get something to take notes with.

You must first get your affairs in order. You can start by creating a list of your income. Remember to include all types of revenue such as pension checks etc… Next you will want to compile a list of all of your expenses such as utilities, rent and or mortgage payments, groceries etc. I’m sure you get the point. If you follow this you will immediately have a better understanding where you are currently going wrong as far as your finances.

Your next step is to directly contact the creditor. If you were previously a good customer in most cases the creditor will be willing to work something out with you. This is an important step towards repairing your credit history. Once you and the creditor have come to an understanding do not forget to request that they remove any negative mark that they may have placed on your credit report. You will always want to get your mutually agreed upon agreement in writing. It will be a lot easier if you write up the agreement and send it to them along with a self addressed stamped envelope.

If you have a damaging history of delinquencies, and a poor credit score, I recommend that you write to the creditor asking them to change any charge-off to a, “paid as agreed”, or “paid in full, on-time.” The same strategies that I am sharing with you right now will also work with collection agencies and credit attorneys as well. The most important thing about using this technique is to remember… DO NOT SEND ANY MONEY UNTIL YOU HAVE AN AGREEMENT!!! In the past I have had students send a payment in with the agreement letter just to find there self standing in front of a judge, and worse than that they lost the case and ended up spending more money.

The next method that I recommend to my students is to start a new line of credit. This method is very easy all you have to do is get an secured credit card, secured loan, or an car loan. Out of the methods that I have listed getting a secured credit card is by far the easiest one. It is also important to note that the balance of your secured credit card should never be more than 20% of the maximum credit offered.

The strategies that I have just shared with you will indeed help to repair credit history, however it isn’t enough. You will also want to correct some errors that you currently have on your credit report. If you were to listen to the media you would believe that the best way to repair your credit is to use a credit repair agency. However if you were to to believe the Federal Trade Commission (which would be a wise choice) they explain that there is nothing that any other agency can do for you that you can not do for yourself. In fact they recommend that you do repair your own credit.

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