If your credit status is not as strong as you would like it to be, please keep in mind that you can rebuild it. Working your way to healthy credit is important.

The main objective is to improve your credit performance. Many credit issuers take your credit performance and your credit report into account when reviewing applications. If you've had credit problems, such as delinquency or bankruptcy, your credit report will reflect these events.

Here are some basic steps for getting started on rebuilding your credit:
 

1. Understand precisely the scope of your situation: how much debt you have, and how much you earn and spend.
   
    

2. Contact the major credit bureaus for a copy of your credit reports. The major credit bureaus are Equifax, Experian and TransUnion. Read the reports carefully. Closely check the accuracy of all information. If you discover any incorrect information, you can contact the credit bureau.
   
    

3. Be cautious about turning to so called "credit repair clinics". Federal law requires that accurate information can remain on your credit report for seven years (up to 10 years for bankruptcies).
   
    

4. Start working on a positive credit history today. Pay your bills on time and use credit only if it is necessary. In general, creditors put a lot of emphasis on customer credit behavior over the past 18 to 24 months. Start now and in 2 years potential creditors will have a more positive picture of you.
   
    

5. Work with current creditors to work out repayment plans if you're not able to make payments under the existing terms of your agreements.