Individuals facing financial challenges should proactively communicate with creditors to avoid damaging their credit scores. Andrea Bicknell, a senior adjudicator at JN Bank, emphasizes that many people struggle with bad credit due to unforeseen circumstances rather than negligence. To rebuild credit, it’s crucial to pay bills on time and in full consistently, as this demonstrates financial responsibility. Bicknell recommends reaching out to creditors early if experiencing financial difficulties, whether due to medical issues or family matters, to prevent negative impacts on credit records. Regularly checking your credit report is also essential; consumers can obtain a free report annually to ensure accuracy. Bicknell suggests four strategies for improving credit scores: obtaining a secured credit card, keeping old credit accounts open, reducing outstanding debts, and maintaining a mix of credit types. While rebuilding credit takes time and effort, following these expert tips can lead to a healthier financial future.
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