It happens to more people than you think. You are out shopping and you do not have the cash but you know you are getting a decent paycheck next week. Therefore, what do you do? You tell yourself that you are going to charge it and that you will pay the bill as soon as you get your paycheck. Well, one thing leads to another and before you know it, you are in debt beyond the point of return. The good news is that it's not too later, learing how to raise your credit score is just a series of small steps.
The first thing you have to do is stop using your credit cards. Do not make it any worse than it already is. If you do not have the money, do not buy it. Once you have told yourself that you are done using credit cards, get a copy of your FICO credit report (some people accidently use the misspelling FICA credit score). See what is on it and clean it up. If you owe any miscellaneous things, pay them and get them off of your credit report.
The next step is to get up to date on any delinquent accounts you might have. The payment history of your accounts makes up approximately 35% of your credit score. Paying everything on time will do wonders for your credit score. Once you start paying everything on time, do not apply for anymore credit. This could negatively affect your credit. The more you apply for credit and have your application denied, the more your credit score will be negatively affected.
Lastly, pay off what you can. Do what you can to make each and every payment and try to pay a little more than the minimum at the least. Once you have everything paid off, do not get yourself into that hole again. Life is better when you are not in debt. You do not have to worry about the phone calls or the harassing letters in the mail.
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