• Discounts and special offers
  • Subscriber-only articles and interviews
  • Breaking news and trending topics

Already a subscriber?

By signing up, you accept Moneywise's Terms of Use, Subscription Agreement, and Privacy Policy.

Not interested ?

1. Get all the facts

Once a year, you can request a free copy of your credit report from each of the three major credit bureaus, either online, by phone or by mail. And you should.

When it arrives, you should read each credit report carefully. Mistakes happen all the time, and it’s your reputation (and score) on the line — so do your own due diligence and investigate. Make sure there are no mistakes on your report, like old debts you’ve already paid down or erroneous “missed payments.”

If there are mistakes on your credit report, fret not. It’s an easy fix. You can dispute the mistake by calling up the creditor, who then has 30 days to investigate. If it’s deemed to be an error, it’ll fall off your credit report within a month.

Kiss Your Credit Card Debt Goodbye

Millions of Americans are struggling to crawl out of debt in the face of record-high interest rates. A personal loan offers lower interest rates and fixed payments, making it a smart choice to consolidate high-interest credit card debt. It helps save money, simplifies payments, and accelerates debt payoff. Credible is a free online service that shows you the best lending options to pay off your credit card debt fast — and save a ton in interest.

Explore better rates

2. Call a truce with your creditors

Let’s say a bill got lost in the mail and you accidentally missed a payment. Or life happened, and you weren't able to make ends meet one month. Nobody's perfect — we've all been there.

All you have to do is write a “goodwill letter” explaining to the creditor why you weren’t able to make your payment on time. Your letter should be concise and to the point, and most importantly, should make a strong case for why you deserve their help.

The creditor isn’t obligated to remove the blemish, but then again, it’s more likely to work than doing nothing at all. So why not take a chance?

If a goodwill letter doesn’t pan out, don’t sweat it. Missed payments won’t stay on your credit report forever, and a couple bumpy spots in your history aren’t the end of the world.

3. Get the experts on the case

Discover the power of FreeCash – your ticket to easy money

Dive into a world of rewards at FreeCash where earning cash is as simple as a click. No gimmicks, just real cash for your time. Join the community of earners today and watch your wallet grow effortlessly.

Make Money Now

4. Ask someone else to pay your bills this month

5. Let this company rescue your savings

Sponsored

This 2 Minute Move Could Knock $500/Year off Your Car Insurance in 2024

Saving money on car insurance with BestMoney is a simple way to reduce your expenses. You’ll often get the same, or even better, insurance for less than what you’re paying right now.

There’s no reason not to at least try this free service. Check out BestMoney today, and take a turn in the right direction.

Sarah Cunnane Former Staff Writer

Sarah Cunnane was formerly a staff writer at MoneyWise. She is a writing and marketing professional with an Honors Bachelor's degree in English and Creative Writing from the University of Toronto.

Disclaimer

The content provided on Moneywise is information to help users become financially literate. It is neither tax nor legal advice, is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. Tax, investment and all other decisions should be made, as appropriate, only with guidance from a qualified professional. We make no representation or warranty of any kind, either express or implied, with respect to the data provided, the timeliness thereof, the results to be obtained by the use thereof or any other matter.