In order to improve your credit score, you need to minimise your debt as soon as possible, especially if you feel your debt is not managable.

Negative impact on your credit score

When you have a ton of debt assigned to your name, it will have a negative impact on your credit score which could lead to paying more interest on credit or having your credit applications rejected.


The only way to repair this is by paying off as much of your debt as possible, as soon as possible. This is the only way you will ever be able to rectify the damage that has been done to your credit score.

Increase monthly payments

You can start doing this by increasing the amount that you repay towards your debt every month. Therefore, if you are currently paying the minimum possible amount of your debt, you should increase the monthly payments as much as you possibly can.

This will allow you get rid of your debt and improve your credit score. If you are unable to repay your debt, a debt consolidation loan could help you meet your debt obligations.

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