Repair Your Credit Rating

There are many companies out there that claim to repair your credit rating if you pay them a sum of money, but many of them are simply just a con and you will part with your money only to find that your credit is still exactly the same. One thing you need to note down though is that if you still have debts and County Court judgements this will not work. This method only works if your debts have been cleared.

The first thing you need to do is make sure you have about £500 or whatever equivalent in your currency go to any high street bank and open a basic savings account with that money. Then a few weeks later go and apply for a loan of £500 using that same money as security for the loan. Pay that money back to the bank within a few days of receiving it without spending it. Then go to another bank and do the same thing, repeat this process three to four times over a 3 month period. Then send off for your credit report and your credit score should have increased by then, if you want to take it further and boost your credit file even more apply for a credit card such as Vanquis or Capital one, when you receive it use it to pay for something small and then pay it back straight away before you even receive your bill, then do it again over a period of say 4 weeks and your credit rating should be pretty much repaired because you would have shown to lenders that you are responsible and pay back even before the due date.

One thing you should take note of is do not abuse your newly found good credit because as you know it takes 6 years before your credit score will go up again so once your score has been repaired keep it that way. However you could use the same method over and over again but it is best to just keep your score to the acceptable level instead of destroying it and then having to go through the process of repairing it again.

Good luck