Bad credit can feel overwhelming, but it's not the end of the road. Andrea Bicknell, a senior adjudicator at JN Bank, emphasizes that many people find themselves in this situation not due to negligence but because of unforeseen circumstances. During a recent Smarter Credit webinar organized by the JN Financial Academy, she shared essential strategies for repairing credit scores and regaining financial stability. The cornerstone of improving credit is timely bill payments, which showcase financial responsibility. Bicknell urges individuals experiencing financial hardships to proactively communicate with creditors rather than waiting for them to reach out, as this can prevent negative impacts on credit records. Additionally, she recommends checking credit reports annually for accuracy, obtaining secured credit cards, keeping old accounts open, reducing outstanding debts, and maintaining a mix of credit types. While rebuilding credit takes time and consistent effort, these strategies can lead to a healthier financial future and improved credit profiles.
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