by: jenniferquilter
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Date: Wed, 17 Feb 2010 Time: 12:13 PM -
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You're looking to fix your rating, but you're low on cash-this doesn't have to stop you. There are still a lot of things you can do for improving your credit without a lot of money and not a whole lot of time and effort, either.
Article Source: DirectoryArticles.com
The first thing you need to do for any credit repair plan is to get a copy of your report. You can do this free online once a year. This will not show you your actual score, but it will show you all the information that makes up your score.
Even though you've made mistakes in the past doesn't mean companies haven't, too, so first look the report over for mistakes. For instance, is your limit on your cards marked down right? It's often marked down lower than it should be and you'll want to call and have this fixed. An important factor in your score is the amount of credit available to you versus the amount you're actually using. Another common mistake is that accounts you have paid off will be marked as overdue still, or open when you've closed them. These are things you'll want to call and have fixed.
If you do have a lot of debt and you do have some money for paying this off you'll want to do what you can, especially on credit card debt. Paying down your balances will have a big effect on your rating. If you cannot do this, that's ok, this does have a big effect but it is only one of many things you can do.
If you have any old debts you always have the option to write to the company and dispute the account. They'll have thirty days to write you back with proof that the debt was yours, or drop the claim and take it off your report. If you haven't heard from them in 30 days and they haven't taken it contact the credit bureaus about taking it off your credit report, explaining that you wrote to them and they didn't reply.
While making repairs to the past is a great thing, make sure to focus on building up a new history of positive financial experiences, with on time payments and accounts paid off in full. Someday these new things will be on your report and you'll have done a lot for improving your credit over time.
These aren't the only things you can do, for more about improving your place on the credit scale check out the Credit Rating Score Scale.
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