St. Charles Herald-Guide

MONEYTALK with Al Suffrin

By Al Suffrin - March 7, 2007

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