Minimize the use of your credit card. As much as possible, pay for items with cash. If you need to use your credit card, monitor how much you can only spend monthly so the money you already owe does not get any bigger.
If you have more than 4 credit cards, try cutting them down to only two. The ones which should go are the ones that have high interest rates and those that were less than 6 months old.
At the same time that you are paying off your debt, it will be a good idea to get a secured credit card to continue building up your credit history. This type of card is unique because you already have the funds in the bank and this will just be deducted every time this is swiped in a card terminal.
Since banks will not give you a loan when you need cash, join a credit union.
You will soon have a good credit rating if you are able to stick to the plan for the next few months or years. Remember, your payment history has the heaviest impact on your credit score.
Credit repair is being able to pay what you owe gradually is much better than filing for bankruptcy. This is because it will be on your credit for the next 10 years so why put yourself in that situation when you can do something to change it now. All it takes is some will power and guts to face it head on.
Remember, you put yourself in this situation so find a way to dig yourself out.
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