MONEYTALK with Al Suffrin

I need help re-building my credit!

Al Suffrin
March 07, 2007 at 1:38 pm  | Mobile Reader | Pring this storyPrint 

Dear Mr. Suffrin: I am a 23-year-old college graduate and need advice on re-building my credit.

In college I got in over my head with credit cards and never satisfied several of the outstanding balances.The creditors stopped calling and sending letters a few years ago, but I know that eventually this will catch up with me.

How can I repair my credit so that my credit score improves and is acceptable?

- Debt in Des Allemands

Dear Debt: The first thing you should do is obtain copies of your credit report and analyze it for errors.

If there are any errors have the credit reporting companies correct them.

Moving forward, you should consider these techniques:

1. Improve your payment history. Always pay your bills on time.

2. Keep debt to a minimum. Keep credit card balances low. Pay off debt, don't move it around. Don't open new accounts that you don't need.

3. Length of your credit history. Don't open several new accounts in a short period.

Send YOUR questions to: editor@heraldguide.com or write: MONEYTALK, P.O. Box 1199, Boutte, LA




View other articles written Al Suffrin

featured merchant

Landry's Outboard Motors & Repairs Service
Landry's Outboard Motors & Repairs Service Over 25 Years of Quality Sales, Service and Repairs on YAMAHA, MERCURY, EVINRUDE and JOHNSON Motors.

Soccer is his game, but  college will be the gain
Soccer is his game, but college will be the gain
- 1379 views
Bryson Marretta’s interest in math and science is what got him into robotics at Destrehan High School and what is directing him to soon study mechanical engineering at Mississippi State University.

Become A Herald-Guide Insider

Get breaking news, sports and lifestyles straight to your inbox