Bad Credit is a very common circumstance facing American's these days. With higher inflation levels, the cost of living soaring, high gas prices, etc., it can relatively simple to be in debt over your head.

We are committed to helping you and your credit situation, so we wanted to put some tips and tricks together about your credit and what you can do to improve it.

Time & Persistance:

Credit reporting agencies are not always on the cutting edge of making certain your credit report is updated. There are three main players in the credit reporting game:
Experian, Trans-Union and Equifax. Each one utilizes a different method to score your credit, and each one updates their files differently and at different times.

The first step to clearing up your credit is to GET RID of the credit card debt. This can be accomplished by refinancing your existing mortgage, getting cash out and paying off all high interest rate debt. The key is to CLOSE the credit card accounts, and DON'T apply for new credit cards etc. Even if you pay off your debt and leave the credit card in an open status, it can still reflect poorly on your credit. This is due to the fact that in theory, if you wanted or needed to, you could rack the debt up on that card again thus posing a higher credit risk.

Give this process some time, it won't happen overnight. Once the three credit reporting agencies start noting that you are paying your new mortgage on time and that your debt level has subsided, your accounts have been closed, your credit score will be on the rise.



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