Before you start a credit repair program you need to have reasonably stable finances. There is little point in cleaning up your reports if new derogatory information is reporting afresh each month. There are many events that can cause financial strain ranging from job loss to health problems. Credit issues may even stem from poor financial decisions; it is altogether too easy to get in over your head. Whatever may have transpired should be resolved.
Get Organized for Credit Repair
The best way to insure that your finances are stable and will remain that way is to create a budget for yourself. A budget is the perfect companion to your credit repair program. Examining one’s finances can be stressful, but once underway you should feel a wonderful sense of empowerment. The goal of a budget is to make sure that your expenses are not exceeding your income. If, after doing the math, you find that you are spending more than you earn, you will need to make adjustments. Try to think creatively; there are many ways to cut costs without diminishing your lifestyle. A balanced budget is a credit repair essential.
See the Big Picture
Many people starting credit repair programs are very excited about getting their reports cleaned up, and rightfully so! But don’t forget the big picture; your credit scores are determined by both the positive and the negative. It is exciting to see the negative items disappear, but you need to manage the positive side of your credit if you want real credit repair success. Make your payments on time, try to reduce your revolving balances, and if you don’t have any open accounts, rebuild your credit with secured cards. Need help? Just call us!