Fixing Bad Credit - Pay Off Collections
Improve Your Credit Rating

Imagine fixing bad credit. Here are 10 simple ways to pay off collections, improve your credit rating and move on with your life.

Fixing Bad Credit - Start Right Now

Repairing a bad credit history doesn't have to be hard. Improve your credit rating. Ask Kate how.

Last year when my friend Wilson called me about repairing his credit, here is what I told him. There are tricks to improve a credit rating. Skip a step and you'll probably find that collection back in your life within a couple of years. It's worth your time to take a few moments and learn how to repair a bad credit history once and for all.

10 Basic Steps To Fixing Bad Credit

1. Starting right now, pay your regular bills on time even if you only pay the minimum payment.
2. Don't stick your head in the sand. Open your mail. Daily.
3. Stop making excuses. Acknowledge that you are fixing bad credit because you have not paid back money you borrowed.
4. Set up a system for repayment to avoid getting overwhelmed. One method is to pay the collections with the smallest balances first.
5. Create a log, adding the name of each collection agency and phone number as you call. Use it to keep track of who says what.
6. Request that each creditor calculates your final amount owed. Sometimes they will offer a deal if you pay in full by a certain date.
7. Get in writing the final amount owed before you pay. This becomes your receipt of payment in full, just in case they do not report it to the credit bureaus.
8. The receipt must include your name, the account number, the amount owed and PAID IN FULL if paid by a certain date.
9. Request and retain a copy of the payment whether you pay by money order, personal check, certified bank check or wire the money. Get copies of both the front and back sides.
10. Sign up with a credit report monitoring for ongoing protection against identity theft. Receive alerts, like my friend Wilson, to unauthorized credit activity in your name. The credit monitor service will also issue your credit report periodically. You can include useful tools to improve your credit rating on an ongoing basis.

How To Guard Your Credit Rating

Wilson learned the secret to maintaining good credit. Last year, paying old collections improved Wilson's credit score ratings. This year, credit report monitoring keeps Wilson's credit score ratings strong and healthy.

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