HELP! MY CREDIT REPORT IS HORRIBLE

When I think of reports, I’m immediately transported to a time where I had to go home at the end of the term with sealed report cards, often tempted to open it so I know my fate with my parents before getting home. 

Currently experiencing internal shudders recalling that

At some point, not early enough though, unfortunately, I learnt that the best preparation for tomorrow is doing your best today. Avoiding the anxiety that came with trying to hide my report meant preparing so well for my exams that I was confident about my scores at the end of the term.

I believe the same applies to credit report. It’s always better to have a clean report from the start but if you don’t right now, don’t fret,

some preparation today will ready you for tomorrow. I’ll tell you what to do in a few steps.

1. Clear your ‘gbese’: Really, it is what it is.

There’s no other way to say it, if your credit report is bad, it means you’re flunking on your grades because you aren’t meeting up with your credit obligations. The easiest way to fix your ‘credit grades’ is to clear up overdue loans with the financial institutions you have credit outstandings with it.

2. Request a letter/ record of non-indebtedness: Request for financial institutions to kindly issue a letter of non-indebtedness upon your clearing of your overdue obligations with said institutions. This will help take your report back to good standing and encourage other institutions to get into a credit relationship with you. 

3. Maintain a clean record subsequently: I know you feel this goes without saying, but there is always that temptation to fall back to bad grades and bad reports when you’ve escaped the wrath of your parents a few times. It is important to stay consistent with your credit report as an inconsistent report is also a red flag in the credit ecosystem as well. 

4. Make use of credit when you need to: Not using credit is like refusing to go to school so you don’t get a bad report. To build a good report, it is important to also create a good record for yourself by utilizing credit.

All in all, having a good report takes intentional, consistent effort and we are available to hold your hand through this process.