Does your credit report smell like rotten eggs, dead fish, and cow manure all mixed together? The following advice will help in the path to getting your credit back on track.

Opening an installment account is one way to improve your credit score. Open an installment account that you can pay for and make sure to keep an affordable monthly minimum on it. If you can manage one of these accounts, your credit score should improve quickly.

You can dispute inflated interest rates if you are being charged more than you should be. In most cases, creditors are somewhat limited in the amount of interest they can charge. On the other hand, you’re likely bound by a contractual agreement to pay any interest charged by lenders. If you go ahead and sue your creditors, ask that they consider the high rate of interest.

Financing a new home can be a challenge, especially if you have a history of bad credit. If you are in this situation you should look into FHA loans before speaking with a bank. You may even qualify for an FHA loan if you don’t have enough money for a down payment or the closing costs.

Start Paying

Start paying your bills in order to repair your credit. However, it’s not enough to just pay your bills; you need to make your payments on time and in full. You will notice how quickly your credit score increases when you start paying off those overdue bills.

Learn what affect a debt settlement plan will have on your credit rating before you sign up. Research all of your options, make an informed decision about the method you chose, and only then should you agree to the settlement. Creditors just want their money and really aren’t interested on how it will affect your score.

If you can’t get a normal card due to low credit score, look into a secured card. Secured credit card applications have a high rate of approval because you must fund a security deposit against your credit limit. By using a new card responsibly, your credit rating will start to increase.

Take a look at credit card bills to make sure that every item is one you have charged. If you spot any mistakes, contact the credit company right away to keep them from reporting the mistakes.

If you work out a payment plan with a creditor, you should make sure to get the plan in writing. This is the only way that you have of protecting yourself. Once the debt is fully paid, you need to get a statement verifying this from the creditor and send it to each of the major credit bureaus.

Credit Report

If you have credit cards with a utilization level over 50%, then pay them down until they are below 50% utilization. Carrying a balance of more than half your credit limit negatively impacts your credit score. Either pay this balance down or spread it out over multiple cards.

As you’ve now learned, a credit report doesn’t have to be the stuff of nightmares. Start on your way to better credit with confidence. You can greatly improve your your credit report if you adhere to the tips within this article.