Keeping a good credit rating is far easier than trying to repair a poor one. Avoid making late payments to creditors, and avoid paying less than the required monthly instalment. Check your credit record. If you have a judgement listed against you, you need to take the necessary steps to ‘fix’ that record. It is very important that you restore your creditworthiness.
- Keep to your regular monthly payments and make payments on time.
- If you fall into arrears, make sure to pay up to date and avoid falling behind again.
- Don't pay less than minimum instalments.
- If you are unable to make a payment due to unforeseen circumstances, talk to your creditors concerned and make alternative arrangements to pay back what you owe. They might accept reduced monthly instalments spread out over a long period of time. Request for an agreement in writing that they will not take legal action for the period of the repayment agreement.
- Stay out of debts!
