Rebuild and repair bad credit to help you sort out your bad financial record. After that turn it into a good record that will serve you will in the present and future.
There are several other ways to fix up your finances. But these tips and tricks will get you started.
Read More: Car Refinance with Bad Credit
Without a good credit record you will not qualify for a home loan or vehicle financing. Or any other large form of credit from a reputable financial service provider.
If you do qualify your interest rates will undoubtedly be much higher than they would be if you had a good credit record.
If you, like most individuals, want to look forward to being able to buy a better car, a house or a boat… You will probably have to rely on getting credit to do so. Without a good credit record you will not be able to do this.
If your credit record is bad enough, you may find yourself blacklisted by companies who have not received loan repayments from you in full or on time.
Therefore it is a good idea to fix this as soon as possible to get yourself back on track.
Repair Bad Credit
There are many different ways to repair your credit record. And get yourself sorted out for your financial future. But the following five 
ways are the first steps to bettering your credit.
Follow them closely. Once you have righted your credit record, make sure that you maintain and grow it for the sake of your future.
Repair Bad Credit Tip#1:
Review your income and expenditure
Sit down with a pen, paper and your bank statement and make a note of your income. Then make a note of all of your essential monthly expenses.
(For example rent, electricity, petrol, groceries, school fees, car insurance etc.)
Work out how much money you should be left with after your ESSENTIAL living costs have come off your income every month. Don’t forget to minus your savings as well.
Work out what you need to be paying every month on your loan repayments. See if you can afford to after paying your essential living costs and savings.
Tip#2:
Save money
Use the calculations and lists to work out whether you are left with enough money to make your loan repayments every month. If not you will have to begin to scrimp and save wherever you can to ensure that you meet them.
Firstly, cut out all luxury spending. For instance narrow down your shopping list. Shop at cheaper stores or buy goods on special. After that cancel things like your DSTV account.
Tip#3:
Pay off your debts on time and in full
Therefore once you have sorted out your monthly costs, you should be able to afford your loan repayments.
Make sure that you always pay them on time and in full. Even if you have to forgo buying lunch at work for a few weeks.
Tip#4:
Do not accumulate anymore debt
In other words don’t spend on your credit card or accumulate any more debt. It will only add to the problem and get you in further trouble.
Tip#5:
See a debt counsellor
If the above hints and tips have not helped you to be able to afford your monthly debt repayments. Or if you still have a bad credit record visit a debt counsellor. For some professional guidance and advice.
A good debt counsellor will be able to give you personalised advice based on your specific situation and lead you in the right direction.
In conclusion remember that a credit record may take time to reflect the good work that you have been doing. Give yourself time and check it regularly.