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How can I repair bad credit?
Bad credit doesn't have to last forever. It can be repaired. However, there are certain steps that you have to take in order to repair it. That way you can increase your credit rating and be able to acquire the new credit that you need to live your life.
The first thing you need to do is familiarize yourself with your credit file. You have to know your credit. If something doesn't look familiar to you, you need to familiarize yourself with it. If you need to acquire a copy of your file, you can contact Veda Advantage at www.mycreditfile.com.au and they can deliver it to you within 10 working days. When you receive it make sure you look it over well to see what is legitimate, what you can clear up, and what looks like an erroneous item.
If there are any erroneous items on your credit file, you need to contact the creditor to dispute the issue. If they refuse to remove it, but you have proof that it shouldn't be there, you must contact Veda Advantage to file a dispute. You will also have to provide Veda Advantage with proof that you don't owe the debt that is listed or that a payment was made although your report says it wasn't. It is important to get these credit records cleared up as soon as possible.
For those legitimate items, make
sure you make payments on time. As a matter of fact, you are better off paying your payments early to ensure they arrive on time. In the meantime, you can charge items to your credit accounts and pay them off each month. This will cause a rapid increase in your credit rating. Just make sure you don't leave any balances hanging around or it is going to look to creditors like you are living off of your credit. You want it to look the complete opposite by paying off your balances each month.
Also, make sure you don't have too much of one type of credit. This means don't have just 10 credit cards. It always helps to have a personal loan in there somewhere. Try to diversify your credit file so that you can show creditors that you can pay on different types of credit. Credit cards are usually not enough for the fact that they have very low minimum payments, which are easy to make each month. They present very little challenge.
As you can see, these are small things that you can do to increase your credit rating. However, these things are very important because credit is everything. You have to have it to buy a house, a car, and to even get a mobile phone. You can't really do anything without it unless you have the cash to spend.
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