Having a bad credit rating can be a serious problem affecting people’s lives in all kinds of ways. Quite apart from making it more difficult to obtain credit, a poor credit rating will mean that the costs of the credit you manage to be approved for will be much higher, meaning you’ll have less money to spend on the more enjoyable parts of life.
There’s no doubt that most people with credit problems would happily clean up their credit ratings if they could, and there are indeed thousands of websites claiming that it’s easy to repair your credit. Some of these claims are at best dubious, while others are even downright illegal.
Unfortunately, there’s no ‘magic bullet’ you can use to repair an impaired credit rating, at least while staying within the law. That doesn’t mean, however, that you’re stuck with poor credit and that there’s nothing you can do. There are a few simple strategies you can use to begin to improve the situation.
Firstly, you need to get hold of your credit record. The big credit reference agencies share data among themselves, so it doesn’t really matter which one of them you...