First, you should have knowledge of your credit report. This is obtained through major credit reporting agencies. (Go to http://www.ftc.gov/freereports.) After you have your credit report, look through it to see if the two following opportunities for how to repair credit apply to you.

Collection accounts: It is very important to recognize whether or not any of your debt has been turned over to collections. If it has, it is crucial to take immediate action. Collection agencies can change the status of your credit rating on a monthly basis by making the total average length of the history of your credit shorter.

How to repair bad credit: Make a call to the given collection agency and tell them clearly that you are fine with paying off the entirety of your debt under the condition that they delete your account from the credit bureaus’ records. While it is not certain that your collection agency will agree to this, it is clearly worth a try. If they do end up agreeing to your request, make sure to have it documented in writing.

Past due accounts: Listed among the delinquent accounts on your credit report, you’ll find a column titled “past due.” Past due accounts can quickly destroy your credit score”so again, you must take immediate action.

How to repair credit: If at all possible, find a way to pay the past-due amount in full. But if you’re unable to do this, call the creditor and arrange a payment schedule in exchange for having the past-due reporting removed from your credit report. Again, ask the creditor to document your agreement in writing.

Collection agencies and past-due accounts don’t have to ruin your credit score. If you know how to repair bad credit”and if you’re willing to negotiate with your creditors”you may have more options than you realize.

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