Top 7 Things NOT To Do (The 7 Deadly Credit Sins)
1. Do NOT attempt to repair your credit without being properly informed. You need to do your research before attempting to repair your credit file or you may do more harm than good.
2. Do NOT file bankruptcy until you have consulted a professional or non-profit agency.
3. Do NOT cancel all of your accounts and consolidate all of your credit cards into one. This will most likely harm your credit. Attempt to pay them down to under 30% of the limit of the card. Start on the smaller ones and move your way up.
4. Do NOT put yourself in another poor financial situation by attempting to pay all your money to those accounts that have been charged off or closed by the credit grantor. Work with your creditors that still have credit lines opened with you and then negotiate the settlements of the charged-off and closed accounts when you are in a better financial situation.
5. Do NOT sign up with a Credit Counseling Company (CCC) without doing your research. This can be disastrous to your credit and often times you can do the same thing on your own without the credit pitfalls.
6. Do NOT spend your time writing those 100 word explanations for the credit bureaus. It is a waste of your time and does NOT affect your credit score. Your time would be better spent crafting a letter explaining the reasons why your credit took a dive. Then keep a copy of the letter on file in order to provide it to future creditors that may want an explanation.
7. Do NOT attempt to create a new Social Security number or an EIN number to start a new credit file. This absolutely does NOT work and by the way, it's illegal!
Do NOT wait! Every moment that passes you by is time lost. Credit improvement is a lengthy process. Mind you, it can be done relatively quickly based on your predicament, but the longer you wait, the longer you will be in a state of panic every time someone attempts to run your credit. Act fast and Act Now!
Do check out our website at www.StrategicCreditCoach.com, it’s loaded with information
Do give us a call, we’re ready to help as soon as you’re ready to get started and answer any questions you may have. (877) 825-8775
Mission: We educate and coach people looking to improve their credit score and overall financial health so they are able to learn financial disciplines and achieve a more secure future.
Vision: To raise the standard of living for all people and inspire them to live their passions and dreams and have piece of mind.
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