Credit Management Archives

Getting them off our backs

For some reason, the creditors are not able to go after their debtors personally. This is where the bailiffs come in. Bailiffs are people who are vested with legal authority to ensure that debts are recovered. The worst part is that they have the full backing of the law. They have their way of coming after their debtors even if it means turning their lives upside down. Luckily, there are better ways to get them off our backs. It is not proper for a decent human being to live in continual fear of the worst. Why not seek help and stop bailiffs?

See your creditor personally

This is one way to ensure that peace still exists between you two. This will also mean that you have to select your words very carefully to avoid plunging yourself into even bigger trouble. Discuss some more agreeable terms of payment over a cup of coffee or other beverage. This move will soothe your creditor, and they will see how serious you are about settling your debt. However, you should notify them when you want to have a meeting with them.

Call a credit relief company

Some companies have built a name for themselves over the years. Not to mention that these same companies have been on the forefront when it comes to dignified means of debt collection. Most of these companies have been in the business for years and had experience. For you to make it out of your debts unscathed, look for the best, there are. Not everyone is fit to hold and run this office.

All the right links

For you to get to the right agencies and companies, you need to be well connected. Links are what make the modern world go round. In our case, debt collection has been around for ages. It’s high time it was dealt with using modern, efficient ways. Your connections should be sure and strong enough to get you knocking on the right doors. Your colleagues at work might be of help in one way or another.

Your role

This will require some financial backup. It is not easy to find a credit relief company that will take you in with just a few coins. You need to have a substantial amount of backup to see you through the whole period. If you are at a financial fix, you might want to discuss the terms and period of payments to be made. As should be the case, your ability to settle financial matters must be up to par.

There is a common phrase that pops up whenever you talk matters credit, and it goes, you can ignore your credit, but be sure that it will not ignore you. Since almost everybody has used credit services before they are subject to credit rating. And it is everyone’s wish that they have a good credit rating as this will come in handy at some particular time of their life.

Thus if you want to improve your credit score, you should first realize that it is something that you will not achieve overnight. Your credit score will to a large extent take into account your credit behavior from the past, your credit report and your present actions when it comes to dealing with credit. But if you are interested in improving your credit score, here are some quick tips on how you can be on your way to upward mobility in your credit score.

Ensure you pay your bills on time

All lenders before lending you any money will always access the likely hood of you paying back the money that you owe them. This is why you are encouraged to pay for your debts on time, every time, as this will go a long way in assuring them that you are a reliable debtor significantly helping boost your credit score.

This is why it is important that you should always endeavor to make payments on time, not only in your credit accounts but also your other bills like utilities, rent or even your cell phone bills. Avoid making late or missing your credit payments as this will considerably harm your credit scores.

Ensure you pay down your debts

When calculating your credit score, two things are taken into consideration: the amount of debt that you have, and the credit that is at your disposal. This is a deliberate move by lenders to ensure that you do not borrow more than you can be able to pay back.

Here experts recommend, that for you to achieve a high credit rating, you should always endeavor to keep your credit utilization below 30%. One may be wondering how to achieve this, but the secret is to ensure that you have made full payments of your credit card services each month.

When you have a lower credit utilization ratio, you are simply telling the world that you are a responsible individual when it comes to credit card utilization. This will not only significantly boost your credit rating but will give you good overall credit health.

Try diversifying your credit mix

When we talk about credit mix, we are simply referring to the various types of accounts that you operate including your credit report.

Even though it does not have a direct impact on your overall credit score, I have come to realize that most lenders prefer individual with revolving credit accounts. The more diversified your borrowing habit is, the more likely you are to experience an improvement in your credit score. But while at this ensure that you do not take up loans that you do not need.