Good Credit .... Who Needs It?

Life is full of unexpected events. Car repairs, medical emergencies, house repairs, and unforeseen high bills are some of the things that you may need extra cash for.

Many families are feeling the crunch of the recession, so therefore extra funds are limited. Bank loans and personal loans are becoming increasingly hard to get. In order to be approved for any of these loans, you must have good credit. Banks and lenders look at people who have poor credit as irresponsible and high risk. Let’s face it; they want to ensure that the money lent to you will be repaid.

Not being able to make payments on time does not necessarily mean that you are irresponsible. A loss of a job or birth of a child may have deemed you unable to make deadlines. Never less, lenders don’t take into account the reason for late payments. Credit scores decrease. Your situation is not hopeless. There are a number of things that you can do to increase your FICO score.

1. Contact the creditor and make arrangements to pay off the unpaid balance. By doing so the creditor may not even report the delinquency, and in the event that it is reported, the debt can be reported as balance paid, increasing your FICO score.
2. Order your credit report and check it for any inaccuracies. If items on your report were reported inaccurately, contact the credit bureau in writing. If the credit bureau is unable to verify it within 30 days, it is then removed from your credit report, therefore increasing your FICO score.
3. Get a secured credit card. Many banks offer these cards. You can also apply for these cards online. Once you receive the credit card, use it for small purchases and be sure to make your payments on time. This will also increase your FICO score.
4. Apply for a department store card or a gas card. These cards are usually easier to get due to the fact that that they want you to use their card to purchase their product. Be careful to charge only what you can pay for. Make monthly payments on time. This will help you not being charged high interest rates and will encourage an increase to your credit limit over a period of time.

By following these easy steps, you will gradually see an improvement to your FICO score. For even more tips and help to increase your FICO score, go to

http://www.attorneycreditrepairguide.com