Avoid Making These 3 Common Credit Repair Mistakes

Whether you are trying to improve your credit or build a positive credit history from scratch, there are a few financial mistakes you should almost always avoid.

In order to find credit repair solutions, it’s important you take the right steps, or there is a risk of making the situation worse. Even one small mistake can result in a lasting damage, undoing all the hard work you have already achieved.

Take a look at four of the most common credit repair mistakes that can hurt your credit report:

Making Late Payments 

The largest factor determining your credit score is your payment history. This includes any type of financing payments, like credit cards, student loans, mortgage, car loans, and any other kind of personal loan. But even things like your cell phone bill or utility payments have the potential to impact your credit report if you leave them unpaid for too long. Hence, it is extremely important to avoid paying any of your bills late.

Applying for Too Many Credit Accounts

While opening a new credit plays a vital part in credit score. However, having or applying for too many accounts at once will hurt your already bad score even more.

When you apply for credit, there is an inquiry into your file. Too many inquiries can drop your score and may be seen as a risky behavior. So, keeping a rather small number of credit accounts would be a great step to consolidating on your credit score.

Not Doing Anything

Many people find process of credit repair overwhelming and simply avoid their bills when they arrive, especially when they don’t have enough funds to pay right away. Here, getting help from the credit repair service is oftentimes a good choice. In fact, the FTC has performed lengthy studies indicating that at least 70% of the population believes they have unresolved credit disputes plaguing their reports.

Let us find out how professional credit repair expert, RL Kramer would help you in repairing your credit score. See what the best option for your personal situation is by signing up for a free consultation on our site.