How to fix bad credit by removing charged off accounts from your credit report

1. How To Fix Your Credit By Removing Charged-Off Accounts From Your Credit Report Your credit is fixable! Bad credit can feel like an anchor weighing you down. Interest rates skyrocket, loans get denied, it can even affect your search for a job. In this day and age, nothing is more important than a good credit score. A bad credit score doesn't have to be a death sentence. Using the steps below will put you well on your way to rebuilding your credit. Getting your credit score up is easily accomplished (but is somewhat dangerous) by using a credit card to pay all of your bills BUT setting up auto pay to pay off the full amount of your card from your checking account at the end of each month. You do not want to carry a large balance on your credit card. The more you use your card, the more your credit score is affected, and setting up auto-pay with your bank prevents you from missing a bill payment or increasing your debt. When deciding to repair your credit, get a copy of your credit report from all three major credit bureaus, TransUnion, Experian and EquiFax. These reports will show you where you stand with each debtor you have worked with. Once you know what is wrong, you can start working to fix it. Make sure to work on removing charge-off account from your credit report. This negative remark can have a BIG impact on your credt score. It can stay on your credit report up to 7 years. To keep your credit score high, do not shop around for different loans. All those hard inquires will bring your credit score down. It will also look like you can't afford to pay your debts without first going out and borrowing more money from someone else. Everything will be reflected on your credit report and work against you. You should pay off a debt before borrowing money again. Another pitfall of too much debt is that your credit score will be affected. You have to keep your credit utilization under 30%. By keeping your credit score high, you can cut back on your interest rate. By lowering your monthly payments, you'll be able to reduce your debt more quickly. Asking for a better deal from your debtors can help you get out of debt and back to achieving a better credit score. Talk with your creditors about combining all your bills into one simple payment. Many people get out debt this way and you can, too. You can do this by contacting all your creditors and working out a payment plan, or you can speak with a reputable debt consolidation company who will do the work on your behalf. Some people become tempted to fall for a scam that has been around the Net for a long time. If a company tells you they can create a new credit file for you, run the other way. Creating a second credit file is illegal because it involves creating a new identity for you. If any company offers you this, you should, stop doing business with them even if they just offer it as an option. Otherwise, you would be working with a company that engages in illegal practices. This is not going to be an easy process. Rebuilding your credit takes time and patience but it is doable. The steps you've gone over are the foundation you need to work on to get your credit score back where it belongs. Don't let the bad choices of your past affect the rest of your future. Follow these tips and start the process of building your future.