How to clean your Credit Bureau in 7 steps and get out of debt

At some point early in their financial life, people often hear fearfully about the Bureau of Credit, as if it were a sensitive, problematic or negative issue in general. That’s why when you buy your first credit card of a institution bank there are those who behave with great caution and suspicion to take care of their personal finance.

If, on the other hand, you do not inform yourself about the issue or avoid it and limit yourself to continue paying your loans When you get to ask for them, you may not detect when it is necessary to make improvements in our credit management, not only to avoid debts, but to make the most of the financial products in your favor.

So, if it suits you to give those records that are the Credit Bureau a review to give it a clean and enjoy the benefits of having it under control even if you do not have more money To pay off your credits, follow these tips:

1. Make your budget. The first thing is to put your feet on the ground and know how your credit health is. To know how you are doing with your credits, but also with the rest of your finances. Calculating the entry what do you have, the expenses indisthinkable from day to day, your payments and thus know your capacity of pay and you can establish a strategy to end with debts if any.

-From your cell phone you can now check your history to keep everything under control. (Freepik)

2. Stay away from bank cards. Secondly, it is to take back the reins of the financings that you have and not continue accumulating more, so leaving your banking plastics it will help to contain the accounts.

3. Get up-to-date with your payments. With the budget cleared and your ability to pay detected, you can begin to seriously pay that credit that takes away your sleep with all the money you have available but that does not affect you in other aspects of your life – except, perhaps, some expendable comforts while you solve it.

If the debt is still above your possibilities of liquidating it, you can approach the Bank or financial and negotiate with them a new payment plan so that the debt does not continue to grow and adjusts to your capacities so that you no longer fall behind.

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4. Ask for a debt consolidation. At this point you are taking care of all the credits that weighed on your shoulders, which, if they are distributed among several banks, you have the option of requesting debt consolidation and processing a single credit that is exclusively to pay all debts with one credit institution. The benefit of this operation is that, instead of thinking about each of the accounts, you pay a single payment with fixed interest for all.

4. Negotiate a rebate. If things remain unchanged and the finance company does not accept a restructuring credit, you can offer personally -or through a credit repair company- a remove. This figure represents an instrument to forgive your debts and recover liquidity, but this will leave a mark on the Credit Bureau that takes 6 years to disappear.

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6. Be totalero. In other words, you pay the full balance of the card every month and never the minimum. When you do that, interest accumulates and leaves traces in the credit history of the Credit Bureau.

7. Stay up-to-date with your history. that to consult it, simply request your Report Special Credit, to which you are entitled to two reviews per year. This way you can detect strange movements that reveal identity theft and act quickly to solve it.

For more information on this and other topics, visit the Credits section of My Pocket.

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