A damaged credit history occurs when there is an overdue debt on a loan or loan, for which the lender went to court to pay off. Banks, as a rule, are quite skeptical of such potential borrowers and refuse to grant them a loan. To get a loan, you must first correct your credit history.
Instructions
Step 1
Determine the reason why your credit history was damaged. This information can be accessed through the credit bureaus. It should be noted that individuals have the right to get free access to information about themselves and make some adjustments.
Step 2
Analyze the submitted data and write a request for correction if you find any inaccuracies. You can also write comments in which to explain the reason for the situation. It will not help to correct your credit history, but it is possible that you will be treated with understanding.
Step 3
Prove to the lender that your financial position is currently stable and you are able to meet your loan obligations. To do this, it is necessary to pay not only loans, but also taxes, utility bills and other financial requirements for at least a year on time. Please note this fact when applying for a loan.
Step 4
Put your money on a short-term deposit. The presence of this type of income can be set off by the credit institution as a plus and have a positive effect on the decision to grant you a loan.
Step 5
Get a few small loans from other banks if you plan to take a large loan. As a rule, such consumer loans for small amounts are provided without a certificate of income and do not depend on credit histories, so it is quite easy to get them. If you repay these loans within a few months, then positive records will appear in your credit history, which will allow you to receive a more substantial amount.
Step 6
Do not indicate false information in your loan application. Remember that almost all data about you is easy to verify, therefore, lying or withholding information, you will only aggravate your situation and worsen your credit history.
