Whatever the reason you’re suffering from a low credit score, it’s time to take action to dig yourself out of this very expensive hole you’re in. Yes, it will take time, lots of time in some instances. It’s a decision you have to make if you ever want to see the light of low interest rates again!
I’m not going to rehash all the information you already know about. There are no magical cures and no amount of money can fix your credit score. Let’s get that fact out of the way right at the beginning. Be wary of any company claiming to know some kind of “weird trick” the credit reporting agencies don’t want you to know about.
Just pay your bills already
I know this can be like telling a bird not to fly. The point I’m making is you need to put your priorities in proper order. It might be a while before that order can be restored, however. Rent, food, lights, etc. I get it. Decide once and for all you’re going to fix this mess. If you don’t, stop reading this because you’ll probably just end up more upset and desperate than you are right now. If you can’t pay all your bills, get on the phone and start explaining to the people or companies you owe, if just to get it off your chest. Companies, or anybody else you owe money to will appreciate that you are trying to keep them in the loop and informed about what is going on. Remember that communication is key for any hope of leniency in these times of financial trouble.
High interest rates for years
The sooner you can get back on your feet financially the better off you will be, credit score and all. Stressing over a good credit score is a good thing as long as it doesn’t consume your life. But, not feeling concerned about it is a mistake, too. A low credit score traps you into high interest rate loans that end up costing you a small fortune over time. Those with higher scores pay much less interest and enjoy the perks of good credit. This can be you.
Know if you’re in too deep
Refuse to allow yourself to struggle financially. It’s not fun and it robs you of the happiness you deserve. If not struggling means living in a cheaper apartment, so be it. You’ll thank yourself later. Maybe it’s the lure of a shiny new car and the Jet Ski. Buy the cheaper car or fix your old one, and keep your money to pay your other bills – in full and on time. When the day comes when you actually need that Jet Ski, you’ll have good credit, cheaper payments and a smile on your face.