Whether youve made some late payments”or missed a couple entirely”youre not alone. Almost everyone has made the occasional financial mistake. But if you have some serious black marks on your credit record, read on for some tips on how to repair bad credit.

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 in the section of your credit report marked delinquent, there is a subsection titled “past due”. Past due balances can also destroy your credit rating. So again, taking immediate action is crucial for your credit rating.

How to repair credit: Explore your options. Find out if there are any ways you can make the payment in full in order to avoid the problem head on. If you can’t find a financial solution, try the same method recommended for collection agencies. Ask if you can set up a schedule to make the largest payments possible – and ask them to keep it off of your record. Again, it is crucial to get this in writing.

Collection agencies and past-due accounts dont have to ruin your credit score. If you know how to repair bad credit”and if youre willing to negotiate with your creditors”you may have more options than you realize.

Are you in need of credit repair help? Freedom Mortgage Services can get you what you need by offering FREE credit repair!