One of the most important financial tools that you can have in your life is your credit score. Over time, there will undoubtedly be situations where your finances will go up and down which could potentially cause blemishes on your credit report. It’s important to remember that although these issues may make your credit go down, they are entirely fixable so you can have the score that you deserve.
Step 1: Get Your Credit Report
The first thing you’re going to want to do is find a resource that will give you access to your credit report, either for a flat rate fee or entirely for free. Make sure that there aren’t any inaccurate entries that aren’t of your doing as these are quite common and can be quite harmful to your record.
Step 2: Call the Credit Bureaus
In the event that you do find mistakes on your credit, make sure that you contact the credit bureaus as they are legally obligated to investigate any disputes with your credit history. You may also have to contact the creditors in the event that there are charges that you wish to dispute against your credit history.
Step 3: Goodwill Adjustments
We all know what it’s like to have late payments as they’re quite common. You would be surprised to know that the majority of creditors will forgive some late payments and adjust any blemishes on your credit report. Generally this is only applicable if you have a positive relationship with the lender. You can easily research goodwill adjustment letters to get an idea of how to put your financial struggles into words.
Step 4: Repayment Plans
Another great opportunity to remove negative marks on your credit score is to develop a repayment plan with the creditor. They may be willing to get rid of any blemishes as long as you promise to pay your dues and ensure that you are regular with your payments. Make sure that you take the time to get the agreement in writing from a manager to protect yourself.
Step 5: Patience is Key
If you try all of the above steps and none of them seem to work, then patience is the only way to get rid of blemishes off your credit. Time is one of the best things that can heal a negative credit score and by making sure that you have on-time payments and make smart credit moves, your credit score will be back to normal.
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