Whether you fell prey to the guys handing out credit cards like candy on campus, got carried away on one too many shopping sprees or got hit hard by the recent economic downturn, you probably did some damage to your credit. This article will give you some tips on how you can improve your situation.

If you’re credit needs some work, first you should make a plan you can stick with, and then follow through. You need to change your past habits and build new, better approaches to credit. Only purchase something if you cannot live without it. If you are buying something because you want it, and don’t need it, put it back on the shelf.

Installment Account

For a credit score boost, an installment account will help. Open an installment account that you can pay for and make sure to keep an affordable monthly minimum on it. You might see a big improvement in your credit score, if you can handle an installment account responsibly.

Make sure you research a credit counselor before you visit them. Many counselors are on the up-and-up and are truly helpful. Others just want to take money from you. Some are not legitimate. Be a wise consumer by checking whether or not the credit counselor you are going to deal with is legitimate.

Do not get mixed up in things that may lead you to imprisonment. A common scam involves teaching you how to make a completely new, albeit fraudulent, credit file. Do things like this can get you into big trouble with the law. You may end up in jail if you are not careful.

Though it is hard to make this step, consider paring down the number of credit lines to just one; this will sometimes improve your credit score. Making one monthly payment will be easier than paying off different bills. Doing so will allow you to pay off one individual debt rather than a multitude of lesser balances.

It is important to get any payment plan that you agreed to with a creditor in writing. This will protect you should the company change its policies. You also want it in writing if it gets paid off so you can go ahead and send it to credit reporting agencies.

Repairing the credit you damaged might seem overwhelming, but you can fix your credit with effort and the right kind of information. Put the information you just learned into practice and start repairing your credit today.

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