How to Remedy Credit Score Low Points Pt. 2
There are moments when it may feel like you’ll never recover from a low credit score, and it’s easy to let ourselves become overwhelmed in those moments. However, there’s plenty to be done even in the lowest, darkest credit situations!
- Maxed out multiple cards. Obviously it’s never a good idea to max out a credit card, but sometimes it’s a necessity. If you’ve maxed out cards, you should contact those companies and see if you can raise your credit card minimums. From there, you just have to work on paying off your debts and paying all your bills on time.
- Collections come calling. Although some collections agencies will disregard paid off accounts in collections, that unfortunately isn’t always the case. Accounts in collections only remain on your account for seven years. After they’re paid off or disregarded, you should make budgets, track your spending, and only take on payments you know you can comfortably pay off on time.
Image via Money Crashers.