How to Rebuild Credit After Foreclosure
There are some very simple measures that one can use, in order to rebuild a damaged credit report. The only thing one cannot repair in the credit report is the credit history, as it stays on the report for ever. In order to repair an ailing credit report, you may resort to the following steps. • Curb all unwanted interest rates. It is the first step. It so happens that as a result of unsecured loans and credit cards, we end up paying a lot of interest to lenders. In many cases like that of credit cards, the interest is quite an unnecessary expenditure. Hence, the first advise that I would like to give you is to stop all credit card services that you have been using. This will drastically reduce your burden as you would not have to deal with payment dates and late fees. • The second option, that I am about to suggest you, is quite a painful one. Surrender all assets that are pledged as collateral and get a certificate of full and final loan payment. If you own more than one car and if o
