A bad credit history is… well, bad. It’s a big black smudge on your financial record, telling those with money to avoid any dealings with you. If you want a loan or a mortgage for example, you can kiss those needs goodbye if your bank account has been blitzed from a series of bad decisions.
Still, hope is not lost. No matter how far you’ve strayed from a safe credit score, there’s every opportunity to get back on track. Here are a few tips to better your situation!
Let’s face it; no one wants a bad credit history. In fact, it’s safe to say that such a thing doesn’t make anyone’s Wishlist. Still, for one reason or another, whether it’s bad decisions or bad luck, people can still have the shadow of a poor financial track record looming over them. It’s downright terrifying, and most people’s first few instincts would be to panic.
Before you get technical with solutions and problem solving, get yourself into a calm state of mind. After all, there’s a clear link between financial stress and ill health, so give yourself the time to let it all sink in first. You won’t make any good decisions out of desperation and frantic retaliation. The most important thing here is your wellbeing, and that should be your priority!
It’s foolish and fruitless to waste time pointing fingers and blaming other people. In times of crises, it’s important to swallow your pride, own up to the reality of the situation, and do everything you can to make things right. These are your finances, so roll up your sleeves when you’re ready and get straight to work.
Go through all of your finances; what you owe and what you’ve paid. Pay off what you can, as this is a good step in securing financial trust for the future. Audit yourself the way a business would, go into detail and root out where your issues lie. Honesty is a tough pill to swallow, but it’s needed here.
The Right Help
The whole point of credit is that it enables you to get help when you need it. It’s a reflection of how reliable you are not just with your money, but with other people’s too. Loan repayments, spending habits, bills; it all tallies up into your credit history so that people can gauge just how responsible you are. With a bad credit history, your repute here is sullied, and it can feel like a crucial chord to financial support has been severed.
Still, not everyone will turn their backs on you. Companies such as Think Money provide excellent services in no credit check accounts, meaning there’s a viable alternative available to you. These companies won’t try and suss you out or trip you up; they’re a caring party who’ll move mountains to reign your finances back under control. A new bank account is what you need for a fresh start, and you need a provider who doesn’t judge you for the past, but works for your future.