James Griffiths asked:




Having a bad credit rating is never a good thing. It can affect all aspects of your life, but particularly financial issues. Getting loans will be difficult, bank accounts are harder to get, and there are many other problems that come with it. However, fortunately there are ways that you can repair your credit. One way that you can do this is to apply for a credit card. This may seem like a strange method, but if you can use a credit card without getting into trouble with it then you can improve your rating. This means using it responsibly and not getting any unpaid bills.

Another thing that you can do to start repairing your credit is to make sure that you keep up with all of your monthly bills. This is especially true of things like mobile phone contracts. Many people get themselves into trouble by not paying their mobile bills every month. If you take out a twelve month contract with a contract provider and make sure that you keep up with all of your bills then again you will be improving your rating because you are proving that you can keep up with it.

The same thing works for mortgages. If you take out a mortgage and keep up with your payments then you will start to see improvements in your credit rating meaning that you are repairing it as you go. All of these things are actually very simple to do, and all of them will help you repair your bad credit. You can do the same with other kinds of bills such as contracts and loan repayments. Once you start to prove that you are keeping up with all of your payments then your credit rating will start to go up.

Ensuring that you have a good credit rating is very important. Many people find themselves getting into serious trouble by not having a good enough credit rating. As mentioned above, it can cause a lot of problems when it comes to financial issues. It may take a long time to repair your credit rating, depending on how bad it actually is, but it is certainly worth the hassle if you can repair it. You will find that financial issues are generally a lot easier to manage, and that you are not declined for things that you would be if you had a bad credit rating.

Ricardo

tarot_princess86 asked:


Alright, I had an account in collections for a really long time. When I started paying it down the collector told me that once it was all paid off that I should send copies of the paid in full letter to the 3 main credit bureaus (transunion, eqifax and experian). However, she did not provide me with the addresses I needed. So I have been circling the internet for hours and hours trying to find these addresses and phone numbers. I found addresses and phone numbers for all three, but these addresses and lines are for obtaining credit reports. My questions are:

Q: If I send my paid in full letters to the main addresses listed, then will someone there know what to do with it, or throw it away because I was supposed to send it to some other (super-secret) address

Q: is it even necessary to send the paid in full letters to the credit bureaus? Because one would think that a collections agency would send that info off in their special way as soon as a debt is settled. ALSO, if it were necessary, you would think that there would either be a designated 1-800 number with PEOPLE to answer questions, a designated PO box address listed somewhere on the internet used for people who need a little more service than a free credit report, or a straight answer about any of these issues somewhere.

Sorry, that last question kind of turned into a rant….

If anyone can help me that would fabulous, and worth 10 points!

Colleen