How to Maintain Good Credit Littleton CO

Steps

1. Collect all paper work, bills, statements, receipts, and creditor documents you can find.
2. Keep track of your credit lines. Track all debts on paper or on your computer.
3. Only have credit cards you need. Don?t "collect them". Some banks see the credit you have as an existing loan.
4. Set your credit limit according to your ability to manage payments. Just because a creditor gives you a massive credit line, does not mean you can afford to use it all.
5. Never miss a payment and ALWAYS place your bills in one place so you don't miss paying them. I put them on a desk in my office. This is critical because you could damage your credit rating from simply mis-placing an outstanding bill.
6. Pay back ALL your debt by consolidating your loans into one payment.
7. Try to get approved for a low interest line of credit and pay off all high interest debts.
8. Stop spending anything on wants and only spend on needs, at least until your debts are cleared up.
9. If you are spending more each month than your net in income STOP now.
10. Find out what your FICO score is so you know where you stand as far as your credit rating goes. Use this as a barometer as you work towards a good credit rating.
11. Make payments on bills as soon as possible and don't let them ever build up.
12. Write as few cheques as possible becuase they can be forgotten and may cause a bounced cheque.
13. Liquidate (sell) anything you can to pay off as much debt as possible.
14. Do not get cash advances or "live" off your credit card(s). If you are that stage, you are likely in serious trouble financially. Start using the steps above to remedy this situation.
15. Write down all the expenses you have on a monthly basis and decide what you really need. If you write down some expenses that you could survive without, get rid of them. Sell the car - take the bus, etc. etc.
16. GET SERIOUS.....everyday you wake up think of fun and entertaining things you can do that DON'T cost money. You will be amazed at how quickly you will rebound.
17. Keep positive and STICK to your budget and program. Don't be afraid to get help from a local financial adviser. I can't stress this enough. People don't seem to realize that there are professionals who give guidance. Even if that professional help costs you some money, it's the best money you could spend.

Sources and Citations

• For more information on credit repair: http://www.world-of-financing.com/bad-credit-loans.htm

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