While there are many online sites that promise you that they can repair your credit for you, they cannot. There are many places you can get advice regarding credit repair. Nevertheless, you are the only one who has the capability of repairing your credit.

Whether you were tagged by a foreclosure, short sale or bankruptcy, your credit has plunged down considerably. After this plunge, you should get up and start building your credit back. Below are tips on how to start repairing your credit:

1. Start with a credit guide, which is one way of getting information that you need on how to improve your credit score. Make sure to get a copy of your credit report so you could determine ways to repair it.

2. Make certain that the information on your file is indeed about you and not someone else who has similar name or the same social security number. Find out items about your credit report that are erroneous. Once you find mistakes, you can dispute them. If there are old unpaid debts, pay them as soon as you can.

3. Make sure to pay your monthly dues or payments on time. If this is not possible due to unforeseen events, make sure to contact your creditor to arrange something.

4. Refrain from paying someone to erase the negative items in your file because there are plenty of credit-repair schemers out there.

5. If you have undergone short sale, check out the status of your short sale. If your lender has accepted a payoff for less than what you owed, make certain that the account reflects a zero balance. Furthermore, you should also be aware of other obligations such as filing fees and taxes. If you are responsible for them, arrange for repayment and ensure that your lender carries your account as current.

6. Another way to start repairing your credit is to try to stick to your budget. This could mean doing without some of the extras you are used to having. Make new credit only if it is extremely important. This will definitely improve your credit score.

7. Your total credit makes up thirty percent of your score. Make sure to keep your credit cards below the credit limit, and then proceed to paying off the balances completely.

8. After resolving the negative entries in your credit report, work on having positive information added to your report. If you have credit cards and other loans reported on time, this can help improve your credit score immediately. Continue in keeping the balances at a reasonable level and make sure that you pay on time.

9. You could re-establish your credit by opening a new account. Because past delinquencies prevent you from being approved for a major credit card, make only one application so your credit inquiries are low.

10. Never sacrifice your good standing accounts for your bad accounts. Make certain that you continue making timely payments on your current accounts.

Repairing your credit is very critical since we live in a credit-dominated world. Try to rebuild your tarnished records as soon as possible.

Author Bio: Get help with our Credit Repair Video or learn the exact methods I used to Fix My Credit with the free course!

Category: Finances
Keywords: Repairing your credit, repair your credit