Ways to Restore Bruised or Bad Credit

Sometimes life tosses at us a bit more than we can handle. Fact of life, what can you do about it? In times like this itís not uncommon for us to spend more than we can afford. If you absolutely must overspend, try not to exceed the limits beyond which it all goes from the sublime to the ridiculous.

If you credit is bruised, one thing that you should never do is take at face value the claims like: We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever! We can erase your bad credit ó 100% guaranteed. Legally create a new credit identity by removing every trace of your former credit history.

FTC attorneys are unanimous in saying that no such claims can be valid or legitimate. Instead plan for a number of DIY credit repair steps, like the ones below:

Dispute whatever items on your credit you think are wrong, with a consumer reporting company. They are legally obligated to investigate every dispute within 30 business days, unless the claim is frivolous.

Approach creditors informally for credit, especially if your most recent credit history has improved. Some creditors might not be too paranoid about your older payments.

Contact a credit counsellor if you are not disciplined enough to establish and stick to a workable budget. Most credit counselling services are nonprofit, government-funded associations. Just make sure you pick a reputable one.

Most importanly Ė USE YOUR COMMON SENSE! Donít overspend, plan ahead and if unsure ask questions!

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