Credit Repair Tips That You Should NOT Follow

Many individuals search the internet for credit repair tips that can help them improve their score and report. It is important that everyone is aware of credit repair scams and bad credit repair tips that will not work to improve your credit.

Credit Advice to Ignore

  • Always pay more than the minimum. While it is important to reduce your overall debt, it is better to meet the minimum requirements of your credit card agreements than to make late payments. If you don't have enough cash flow to cover more than the minimum, just pay the minimum.
  • Stop paying your bills to negotiate. Debt settlement agencies may try to advise you to stop paying your bills in order to negotiate a reduction in the total amount that you owe. This will harm your credit score and make it more difficult for you to improve your credit score.
  • Just file bankruptcy for a fresh start. This will also harm your credit report and can hurt your chances for future credit. If you are approved, you may be charged a higher than average interest rate. Back child support, student loans, income taxes and divorce settlements may still be owed after proceedings, so your record may not be 100% clear.
  • Everyone should hire a credit repair service. There is little that credit repair services can do that you can not do on your own. Not all of these agencies are created equal, many of them may charge outrageous fees, and there are a number of credit repair scams.