Repair Credit for Medical Financing
Applying for medcal fiancing can be stressful especially if you have a low credit score. If your credit score falls into the poor to fair category it’s likely you will be turned down for financing, or pay very high interest rates. Your best option in this scenario is to repair your credit to get into a strong position to qualify for financing in the future.Repairing your credit is something most of us have to do once or twice in our lifetime. We all have missed an occasional payment or had a medical bill slip through the cracks we forgot to pay. Don’t beat yourself up over this, it is just a part of life and can be fixed. Phoenix credit repair consultants can turn your nightmare of credit issues and turn them around and get you on the right track of healthy credit again.
Hiring someone such as a credit repair consultant is a great start to help you get your credit back on the right path. They stay within all the laws and know how to get the best results as far as getting negative items taken off your credit report. The credit repair consultant can help you understand what impacts your credit score the most and how to strategically attack all blemishes on your credit report. They are experts at what they do and you will get results over time.
While the process the appropriate dispute letters on your behalf, there are ways you can help your score as well. The first being to stop applying for credit. Every time you apply for a new credit card or car loan etc your score goes down. After your credit has been cleaned up and your credit consultant gives you the go-ahead, that is when you should apply for more credit if you so choose. This way you will be applying with healthy credit and as much negative information on your credit report is removed, resulting in a much lower interest rate.
Another way to help your credit is to pay all your bills and pay them on time. If you are going to be late paying a credit card, it is best to communicate that with your credit card provider. They are people too and appreciate you letting them know upfront if you are going to be a few days late making a payment. Most of the time if it is within a week of your scheduled due date, they might wave the late fee as well not report the late payment to the credit bureaus if you just ask. All it takes is a few minutes of your time to call and ask. The worst they can say is no, just remember you catch for flies with honey than vinegar.
If you are in good standing with a credit card company and have made your payments on time every time for the last 6 to 12 months, you might want to call them and ask if they will consider lowering your interest rate. Again the worst they can say is no, yet if you do not ask it is a definite no.
Another tip is to not utilize more than 25% of your credit limit, even if you pay the balance off every month. Every time you spend more than 25% of your credit limit on a credit card it lowers your score. Ideally, you never want to spend more than 20% of your available credit if you want your score to be 800 or greater.
These tips will hopefully help you and make you feel more in control of your credit repair and credit health.