Preserving Your Credit Scores, Made Simple
- You must regularly check your credit reports and notice the contents for any errors in them. When you notice an error, make sure you report it to the concerned creditor and get it rectified immediately. If you delay or ignore it, your figures get lowered permanently. Human mistakes are possible and it is in your interest to get things corrected for your own benefit. It becomes increasingly difficult to correct the error, the longer the error sits on the credit report.
- It is your responsibility to pay your bills on time. If by any chance you are unable to pay due to lack of funds, you must immediately contact the creditor and inform the position. If you sit with the creditor and discuss the ways to settle the dues, you can find most of the creditors willing to help you come out of the mess. If you delay due to inaction inadvertently or by lack of time, you can opt for the automatic debit from your bank account on the due date by giving an authorization to your bankers. For this you have to arrange funds only and the other formalities will be taken care by the bank.
- You can get professional help from reputed companies who advice you on how to improve your credit score, if by any chance your credit score is lowered. You can take the help of friends to choose a good organization that can help you to improve your credit rating.
- You must never take debt which is beyond your financial means. It should always fall below your limit and do not fall prey to temptations. If you pile up debt that can’t be serviced, your credit score will be permanently damaged.
- Even if any chance you run into problems with your creditors, you can discuss frankly and fairly the ways to tide over the situation. If you stick to your payment schedule even after a mistake, there is a chance to get the negative remarks on your credit score removed by the creditors.