How To Improve Credit Report

July 13, 2016

There are steps you can take to improve your credit report. As your Clearwater debt collection defense attorney, we at the Law Office of Michael A. Ziegler want to give you the information to get back on track and start rebuilding your credit.

Credit Improvement Tips

When your credit report is bad, you can suffer lifelong consequences. Most people have experienced debt or financial difficulty in their lifetime, and don’t know how to start over.

The first step is to stay informed. Knowledge gives you power, and knowing where you stand and what you owe will give you the ability to fix it.

Good Credit Tips From Our Clearwater Debt Collection Defense Attorney

Check your credit report regularly to ensure that you are informed of your situation. If your credit report shows that you owe money, make sure that the report is accurate. Often, there can be errors on reports that show a debt is owned, when in fact, it is not. Additionally, sometimes a debt may be older than what it appears on your report, and the collect may no longer be legally entitled to collect on a debt. If you find these issues, you should contact an attorney.

Based on your research, if you have legitimate, timely debts that are being reported, you will have to evaluate how to address the debt. Options including payment plans, debt negotiations, and bankruptcy. The more informed you are, the better you can handle the situation.

Find out what type of communication is needed to ensure that you are creating a situation that works for you and will bring you out of debt.

Stick With the Plan

Once you’ve determined your course of action stick with the plan.

Once your debt has been resolved, you want to keep your total credit usage under 30% of your available credit. This formula not only helps you to make your payments on time, but it signifies to creditors that you are managing your credit allowance in a responsible way.

Sort through your bills and figure out when everything is due. Set reminders for yourself, so that you can stay on schedule. Try the “Mint” app to manage your bank accounts, set payment reminders, and get a realistic view of how and when you are spending your money.

How to Rebuild

The most efficient way to rebuild your credit after paying your debt is to establish a positive credit report. Start by obtaining a credit card, even if it is secured, and make small purchases and regular payments. Showing that you can establish new habits and exhibit responsible spending is the main goal.

Remember that rebuilding your credit takes time. If you identify debts that are inaccurately reported on your credit report, contact the Law Office of Michael A. Ziegler to evaluate your options.

It can take seven to ten years for delinquencies to leave your credit report, but you can continuously improve your credit score by taking consistent, regular action over time.

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About the Author

Ziegler Diamond Law: Debt Fighters, provides effective legal services to consumers in Clearwater, Florida, and throughout the Tampa Bay area who are facing home foreclosure, unmanageable debts, debt collector harassment, or other debt-related problems.