Fix Your Finances: Ideas for Rebuilding Credit

Written by Angela Atkinson

“Remember that credit is money.” ~Benjamin Franklin

There are several ways that we can rebuild credit when you’ve had tough times. Financial abuse is real for narcissistic abuse victims! No one should judge you. But if you are tired of collectors hounding you, or if you are frustrated that no one will loan you money because you never had credit, it is time to learn how to build your credit. First, and foremost, never purchase items you do not need. If you ‘want’, do not let your wants wear you down and get you deeper in debt. If you are searching to build credit and have no history at all, make sure you have your priorities in order.

Bad Credit? Tips for Building Credit

So, you got yourself in a little trouble. Whatever the reason your credit’s bad, I’m not judging you. We’ve all been there–but we are here to fix this problem, not talk about how terrible it is, so let’s do this.

What are my rights when it comes to credit scores?

Your rights, as they apply to your credit and according to the FTC, are as follows.

  • You’re entitled to a free credit report if a company takes “adverse action” against you, like denying your application for credit, insurance, or employment.
  • You have to ask for your report within 60 days of receiving notice of the action. The notice includes the name, address, and phone number of the consumer reporting company.
  • You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
  • Each of the nationwide credit reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report once every 12 months, if you ask for it. To order, visit annualcreditreport.com, or call 1-877-322-8228. You may order reports from each of the three credit reporting companies at the same time, or you can stagger your requests throughout the year.
  • It doesn’t cost anything to dispute mistakes or outdated items on your credit report. Both the credit reporting company and the information provider (the person, company, or organization that provides information about you to a credit reporting company) are responsible for correcting inaccurate or incomplete information in your report.
  • To take advantage of all your rights, contact both the credit reporting company and the information provider.

The Ups and Downs of your Credit Rating

More Tips for Bad Credit Repair After Narcissistic Abuse

  • There are systematic guides at your local library that will teach you, as a debtor, how to write letters to creditors.
  • Don’t be afraid to call a creditor and explain your situation. Even if you have ignored their calls for months, they will work with you in most cases. Communication will make you feel better and will help your creditor to understand your situation. While it may not immediately solve your credit problems, it is definitely a step on the road to recovery.
  • Any documents that pertain to your credit history should be stored in a safe area. If you send letters to your creditors keep a copy of each letter sent and store it in a safe area.
  • If you notice any errors on your bills or credit, reports make sure that you contact the appropriate professionals and dispute the charges immediately. Once you have disputed the charges with the sources you will then contact your card provider and let them know what occurred.
  • If you are lucky enough to have a credit card with bad credit, please don’t use the card to repay your debts and then meet the monthly installments on the credit card each month. That would mean getting out of debt while going in debt deeper–how sensible is that? It might seem like the only solution when all else false, but credit cards have interest rates so the bills each month on the card will increase.
(Visited 63 times, 1 visits today)

Get Guided Help with Your Narcissistic Abuse Recovery

Subscribe and get a special email series from Angie – packed with free gifts to help you heal and evolve!

Where are you in your recovery?

 

Subscribe

We won’t send you spam. Unsubscribe at any time.

Powered By ConvertKit

Award for Angie’s YouTube Channel

Disclosure – Click to Read

advertisement

You're not alone.

We have been there and we can help you heal.

Related Articles

5 Traits Of A Covert Narcissist That You Must Know About

5 Traits Of A Covert Narcissist That You Must Know About

Are you in a relationship with someone who seems to be the shy and quiet type who does not brag about themselves, but who also treats you differently behind closed doors?  Do they, at times, seem to hate themselves? Does this person appear to be an introvert, and...

Is Your Relationship Toxic? 40 Warning Signs To Look Out For

Is Your Relationship Toxic? 40 Warning Signs To Look Out For

How can you tell you are in a toxic relationship? People very often ask how they can be sure a person they are in a relationship with is a narcissist. The struggle to not only understand but to accept what they see and feel can cause so much confusion to survivors of...

The Female Narcissist And A Few Ways They Manipulate

The Female Narcissist And A Few Ways They Manipulate

Do you know a female narcissist? Like every narcissist, the female narcissist often has many sneaky ways of manipulating. For example, a female narcissist will often use the fact that she is female - not only to excuse the abuse but also to justify it. She may even...

Get Guided Help with Your Recovery & Stay Up to Date With The Latest News & Updates

Join the SPANily! Start with our free newsletter.

Subscribe and get a special email series from Angie - packed with free gifts to help you heal and evolve!

    Where are you in your recovery?
    We respect your privacy. Unsubscribe at any time.
    Powered By ConvertKit

    Pin It on Pinterest

    Share This

    Share this post with your friends!