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Richard and I began dating in October 2003. At that time, I was in my second year of teaching. I had a stable job, retirement plan, money in my savings account, and great credit. While I admittedly made many foolish decisions during my late teens and early 20s, I was always financially responsible. I over-drafted one time from my free checking account for rent, but I very quickly learned my lesson. I had a full scholarship for my undergraduate program and a grant for my graduate program, so no student loans or emergency no credit check payday loans. I had one credit card that I would pay off in full each month, and I independently financed my car at the age of 22 without any issues. Richard, on the other hand, was one of those typical college kids who didn’t know how to handle his finances. He took out student loans, maxed out multiple credit cards {and didn’t pay them on time, so he incurred many late fees}, and had very little money in his bank account despite how hard he worked. When we went to purchase our first home together in the spring of 2004, we quickly learned that his credit was an issue, and we needed the help of a credit card debt lawyer. We were not able to check his credit issue because we do not have an online credit monitoring tool that time. Here are 5 tips to repair your credit today when you are preparing for marriage and a family.

 

Tips to Repair Your Credit Today

Step 1: Be honest. Richard was used to stashing away all of the bills away that he was unable to pay, basically disregarding them until a later date. He had to be willing to sit down, admit that he made some financial mistakes along the way, and be upfront about his debt. I know this wasn’t an easy step for him, but it was an important part of our early relationship-building. You may also want to try a service like Creditrepair.com. They believe everyone has a right to achieve their dreams, increase their ability, and enjoy a lifestyle of greater opportunity. A low credit score shouldn’t hold you back. 

Step 2: Contact credit card companies. Credit card companies want you to pay off overdue debt. If you call them up, they usually have some room to reduce your bill by removing late fees and lowering your percentage rate. Better credit could save you thousands of dollars in high interest rates. See what you can do to negotiate a lower balance that you can pay off more quickly. Also, do not forget to get help with bailiffs if you are mistreated. Seek the right agencies to help you in this endeavor. 

Step 3: Pay off low balances. Once we were able to lower the balance on some of his debt, we could pay it off in full. One of the credit cards was a store card with a balance of just a few hundred dollars, so we paid that off and shut down that account. We were able to do the same with a small student loan, if you consider you need a loan to accomplish your goals, check out this fha loan requirements. 

If you need an additional income stream such as having your own business or by investing, then experts like Andy Defrancesco can help you get to a great start.

Step 4: Co-sign. Remember that first home I mentioned {and pictured above}? Well, because of Richard’s 500ish credit score at the time of the home’s purchase, I had to purchase the home in my name exclusively, so it was basically like Richard paid half the mortgage to me as a rent payment. Make sure to find more information on the investment property loans that work the most for your financial situation.

A year later, he decided to buy a new car, so to get a lower interest rate, I acted as the co-signer. We made all of the payments on time when debt collection came, which helped improve his credit score. If you want more detailed information, like a credit score tracker and analysis, check out CreditRepair.com’s personal online dashboard, you can find more information about them here.

Step 5: Pay off cards monthly. Once we were married, we purchased Richard’s new car, and our finances were stable, Richard and I applied for joint credit cards. I have always put all of my purchases on credit cards monthly, whichever could offer me the best perks, and paid them off in their entirety each month. I do not keep a balance on any credit cards, and I enjoy all the privileges of cash back and rewards accounts. Also, I’m certain to not pay for anything with a credit card that I cannot pay off by the end of the month. If I cannot earn the money in that timeframe, I cannot spend the money in that timeframe. You can visit https://thepvlse.com/ for more financial tips.

When we sold our first home and purchased a new home in spring 2009, we were able to purchase the home in both of our names because Richard’s credit was comparable to mine. We were able to borrow enough money from the bank to purchase a home that had all of the features we were looking for: three bedrooms, two bathrooms, a separate living room and family room, a backyard, and it was near a highway for convenient travel.

And now, after over 15 years of being in a relationship, we both have great credit! We have since purchased multiple vehicles, another home in 2017, and we have multiple credit cards in great standing. A credit score is more than just a number; it’s what allows you to live the life you want, make the purchases that are right for your family. If you’re looking to improve your credit, check out CreditRepair.com today with a free consultation. Jumpstart your credit repair efforts! 

What have you done to repair your credit score?