Can you Repair your Credit Rating?

02 February 2010 - Which Way To Pay

    



Can you Repair your Credit Rating?


We all know that having a poor credit rating can adversely affect our chances of getting a loan, credit card, mortgage or even car.  But are there ways to improve your credit file? 

The answer is – yes and no.  There are ways you can take steps to make your credit file better.  Here’s how: 

You can request to see your credit file by going on any of the three main credit rating agency websites – Experian, CallCredit or Equifax – and signing up for the free trial.  This allows you to view your file for free.  Once you have viewed it you can cancel your subscription.  Don’t forget to cancel because you might start to get charged after a month or so! 

If you see mistakes in your file, contact the agency to have them corrected.  The earlier you do this, the better as it can take some time to fix mistakes. 

Cashback Sites offer cash to check your file! 

Some cashback websites offer a few pounds for checking your own file.  Simply find a cashback site that offers this and sign up to the free trial via them.   

Can you ask for Credit Repair? 

If your file is not looking good, you can take steps to improve it.  Thinking tactically and behaving in a way that will improve your score is a good idea – like lying low on loans for a while and paying all bills on time.   

There are companies which claim to repair your credit rating.  However, some of these are not only illegal!  They will wipe any CCJs on your file but will do so illegally.  It is a bad idea to use illegal services to try and improve your file. 

There are also legal credit repair agencies who will offer to negotiate with companies after a CCJ has been served to you.  They will take a fee for this – you can go to free debt counselling services instead which could be much worth much more of your time. 

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