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Repair Your Credit in Hours

Have you been having credit problems for some time now?  Are you always in debt and worried that your credit rating is so low that you won’t be able to buy a home one day or purchase a car?  Are you seeking some form of credit repair?  If you have had bad credit for a long time and if you want to give it a healthy financial boost (and fast), check out these smart financial tips on repairing your credit within hours.

Increase Your Credit Limit

While this may seem like the last action to take with regards to credit repair, this method can actually help improve your credit rating quickly.  If you discuss with your credit card company the possibility of increasing your limit, your debt ratio and money owed on the card won’t look so drastic and irresponsible.  Understand that only a few credit companies out there might make this change and increase your limit for you, so make sure you have a good reason for asking for the credit increase, whether you make it up or not.  Do not ask for some insane amount and request a moderate increase in your limit.

Borrow Money from Family or Friends

This isn’t always easy to do and many times, family and friends will not be able to help you out when you are dealing with financial woes.  But if you have a rich uncle or grandparent, then you might want to ask.  If your debts are paid off sooner rather than later, your credit report may be immediately “boosted” and placed in good standing.  This can greatly increase your score and get you on the fast track to credit repair and a good credit score.  Your lenders may ask for their money back with interest, but it is much better to owe family and friends than the bank who can ruin your credit for life.

Take Out a Line of Credit

This financial tip is used a lot when it comes to credit repair.  Start out by consolidating all of your debts and apply for a line of credit at your bank.  Many banks will loan their clients money to pay off a range of debts and the approval process is quite quick.  If you get this line of credit from your bank, pay off all of your debts at once and cut up your credit cards.  By getting rid of a variety of debts from different financial institutions, you will greatly enhance your credit rating.

Do You Know Someone with a Solid Credit History?

This is an action that should only be taken by those wishing to become completely honest with their spending and financial matters.  If you are ready to get on a straight and narrow path towards credit repair and a healthy credit score, ask someone with outstanding credit to add you to their credit card as an authorized user.  The fact your name will be on this healthy account will say a lot about you and your new financial responsibility.  You can by no means act irresponsibly, as irresponsible spending will hurt the other person’s credit score.

Pay Your Cards Off

While this seems like the easy answer to your credit issue, it isn’t always easy.  Some people have other payments to make and obligations like child support payments or medical bills to take care of.  Talk to your credit card company and tell them that you want to close your account, but tell them you want to make payments to pay each of them off.  If your debt has already been turned over to a collections agency, talk to them to arrange monthly payments you can afford.  The sooner you take action on this, the sooner your credit rating will start to improve instantly.  People who try to escape and hide from collection agencies will never be able to improve their credit, let alone quickly.

Dispute Any Unknown Charges

If you have any charges on your credit card account that do not look familiar and if you suspect fraud or are positive you did not make the purchase, you need to dispute them.  Never pay charges that are not yours.  A large majority of people do not check their online credit card accounts that often and end up being charged for all sorts of purchases that are not theirs.  Be honest about it, though.  Even though you may feel desperate and have financial woes, lying about purchases that you know you made is just plain deceitful.

Reorganize Debts and Pay Off Outstanding Ones

This is an important strategy.  If you have outstanding bills or unpaid parking tickets, pay them.  The faster it says ‘paid’ or ‘collection deleted’ on your credit report, the sooner you will be on your way to a better credit rating.  If you have electricity and phone bills outstanding, pay them as soon as you possibly can, even if you have to borrow money from a family member or take out a line of credit (see above).

Any of these actions, if performed accurately and quickly, will begin the process to a better credit rating within hours.  Any payments and debts owed that are closed and paid will show your financial lenders that you are acting more responsibly with money, working on personal credit repair and making a change for the future.  Your financial reputation will improve the more you work at it and if you really make an effort to boost your credit rating back up to where it began.  Try not to get discouraged about a bad credit rating, as it can always be improved by making the smallest of actions.