Many sites offer advice on credit repair. Some even offer to undertake credit repair for a supposed professional fee. Many have tried to make sense of the intricacies of credit repair and from their own experiences the following suggestions are being shared to you for free.
1. When using a credit facility, such as a credit card, one needs to keep a ceiling as to the availment of the credit in the facility. A safe and sure bet is to keep the use of the credit facility to twenty five percent of the maximum credit limit. This provides for an adequate leeway for use of the card and credit records would indicate that you are fiscally responsible in managing debts.
2. Be loyal to the credit facilities one has. IF one is suddenly applying for credit lines rtight and left, and there is pattern to opening and closing the debt instruments, then this would alert financial institutions as to the management of one's debt. It means one does nt have the capacity to pay and instead the debtor is actually playing the market to keep the debts from falling due.
3. Keep your credit line to yourself, except when there are extensions to a spouse or family member. This ensures that you have full control over the debt instruments at your disposal and avoid the hassle of assuming debts whose benefits were never reaped by you. So it would be prudent fiscal management to allow only family members to use your credit line to avoid that the said facility would be abused or much worse plundered.
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