Your credit history points out the financial errors you might have committed in the past. The lesser your mistakes are, the higher will be your credit score. And the higher your credit scores are, the greater is your chance to secure a new loan, at low interest rate. So, if you are bothered about your low credit score, you can do your own credit repair to improve your score.

The following tips will come to your use, when you are willing to repair your credit:

1. Review your credit reports – The first step towards your credit repair will be to check your credit records. You are entitled to a get a free copy of your credit report from each of the three credit bureaus Equifax, TransUnion and Experian. Ask for them and check the details of your previous payment histories thoroughly. Note down the mistakes that have reduced your credit score.

2. Dispute errors – Find out the errors on your credit reports. Ensure that no false information is there on your report. Identify the mistakes on your report and dispute those. The credit bureaus should investigate any dispute within 30 days of your claim.

3. Pay back your debts – It might be difficult to pay off your debts as it is going to take a considerable amount of time. Proper planning and determination will only come to your use, if you really want to eliminate them. Don’t default on the monthly installments on your loans, as the missed payments are bound to have a negative effect on your credit score. Go for the professional services if you cannot pay off your debts on your own. They’ll be able to guide you in a systematic way, so that your credit score improves with time. Or you can even go for the debt snowball or debt avalanche methods etc. if you want to do it yourself.

4. Add positive information – Try to include your on-time payment records to your credit report. Timely payment and current positive accounts will be able to lift up your credit score. Continue with your efforts consistently, and your credit score will surely improve over time.

5. Don’t make haste – It is better to avoid making hasty decisions. It is no use hoping that you can clear off all your debts, in the blink of an eye. Don’t close your old credit card accounts, as it not only increases your credit utilization ratio, but also erases the longer credit histories, which will have a negative impact on your credit reports.

It is advisable that you don’t let your credit accounts go dormant. The secret behind effective credit repair is to make regular payments on each of your debts every time.