How Debt Consolidation Serves as Credit Repair for People with Huge Debt

Having a bad credit score can affect every aspect of your life. It affects how much you can borrow, what interest rates you will get, and sometimes even whether you can get a job.

Credit repair has now become a popular word when asked how to improve your credit score quickly. In this article, we will determine how debt consolidation affect your credit.

 

What is Credit Repair?

 

This is a process you take to specifically improve your credit score.

·       Fixing incorrect information in your credit report.

·       Changing your spending and borrowing habits so that your credit improves over time.

There is no quick solution to the latter. The former is often an easy fix, but can become complicated if you have become a victim of identity theft (this is one time when it might be a good idea to speak with a professional).

 

How to Repair Your Credit?

 

Review Your Credit Score Regularly

The first step is to get copies of your credit report from all three major credit reporting companies (Experian, Equifax, and TransUnion). You need to read these reports very carefully. Reports from these companies are free (once a year), and requesting your credit report does not affect your score.

 

Dispute Any Errors

·       Incorrect address, name, or phone number.

·       Closed accounts still being marked as open.

·       Being marked as the owner of an account when you are an authorized user (or vice versa).

·       Incorrect date on last payment, date opened, or date of delinquency.

·       Duplicate reports, sometimes under slightly different names.

·       Incorrect balance or credit limit.

 

Get a Debt Consolidation Program to Rebuild Your Credit

If you are suffering from severe debt crisis (Debt over $10,000), debt consolidation program is the best option for you to rebuild your credit. It is a government-approved program in which all your unsecured debt can be merge into one debt but you only need to pay a portion of it – usually reduced by up to 75%.

 

Best debt consolidation company in Canada is National Debt Relief Services. We have hundreds of 5-star google reviews and have helped thousands of Canadians get rid of unsecured debt.

 

If you want to know more about your debt relief options, please speak to us. We offer a free consultation to people who are seeking to eliminate their debt and start a new life – DEBT FREE.