If you are in the midst of a bad credit situation it is time you took emergency action to repair the bad credit score at the earliest.
Never let your credit ratings go out of hand.
Credit scores are established by the three credit bureaus who make your credit rating available to any financier you may have applied to for a loan.
A bad credit score will ensure that the financier will turn down your application as soon as he sees your bad credit report.
It is fairly impossible for anyone with a bad credit score to secure a loan.
This is the main reason that anyone with bad credit scores should take immediate remedial measures to rectify the bad score.
The first step is to obtain your credit report from the three credit bureaus.
You should go through these reports very carefully.
You are looking for mistakes.
Such as payments you have made to your creditors that are not reflecting in your report.
This is possible because the creditors will report any non-payment or late payment to the credit bureau.
Chances are that they will not report it to all three bureaus.
This is where the confusion arises.
If and when you do come across any error of the sort you must immediately notify the credit bureau along with copies of evidence of your payments.
This evidence could include copies of correspondence with the creditor showing an acknowledgment of the payment, credit card bills or any receipts you may have to prove that the payments were made and on time or otherwise.
You are entitled to have the bureau rectify their records and in a timely manner too.
You should make it a point to get your report at least once a year.
You are entitled to a free report each year from each of the three bureaus.
Then there is the scenario that there are no errors I the report.
Then your bad credit ratings are your own making and rectifying this can take some time.
You will need to curb your expenses and get just one credit card.
You must then ensure you purchase daily need items with this card and make sure that you pay the whole amount every month.
This means that you have to do on a cash diet - stop using cash for your purchases, use only your credit card.
When you keep a consistent timely repayment record to the card company your credit score will begin to repair itself and you will be well on your way to a healthy credit score.
This is the easiest way to repair a bad credit score, and if your score is seemingly beyond repair due to bad debt, you may need the services of a debt manager.
Do not hesitate to seek out one to repair a bad score, it will serve you well in the future.