Fixing that credit record

To fix my credit record I got a copy of my credit report from the credit bureau.
All credit bureaus(Transunion);(Experian), can give you a copy your credit report once a year.This gave a clear picture of how many accounts I had and what I owed.
It showed me which ones were in arrears, which ones were judgments and which ones were defaults etc.
This gave me a clear indication of what I needed to do to fix my finances.
When you have your credit report you can verify that all the information is correct as well.
If anything is not correct you can advise the credit bureau and they will correct the information.
I realised that making payments on time on my accounts is very important.
I also realised that I did not need all those accounts.
One or two accounts are enough to build a credit history.
You do not have to over commit yourself opening unnecessary accounts.
We often buy things we don’t really need, just because we have credit available.
You see it’s easy to spend on credit than spending your cash.
I also decided to simplify my lifestyle, basically I try to live below my means as far as possible.
Now, before I enter into any credit agreement I ask myself do I really need it.

I was blacklisted…

So there I was at 25 years old blacklisted, with 5 default judgments and many defaults against my name at the credit bureau; all hope was gone

It was difficult to accept the reality of the situation. Would I ever break free and be able to get credit to buy a house, a car?

I became depressed and could not bear the reality I was facing. I simply owed too much, how was I ever going to pay it back.

I could not even change jobs because of the listings at the credit bureau.

I was devastated. I tried short cuts to clear my name, none worked.

The stigma of being blacklisted almost crippled me and I almost lost the will to live.

In the end I decided to face my problem head on.

This meant paying every month whatever I owed. I knew it would take a long time but time flies.

I was committed to get my life back and be debt free.

I paid every month, in no time I was able to pay off some of the debts.

This gave me courage and hope that one day I would not be blacklisted.

Fast forward some years later and I have no judgments no bad debt defaults.

Hence I can say I was blacklisted once I no longer am.

It was not by magic; there is no silver bullet, I simply took a decision to be responsible for my actions.

One mistake I made at first was borrowing to pay off my debts, which never works.

To pay off debt you have to pay using your income (if you are lucky enough to have an income).

I hope you find encouragement if you happen to find yourself in a situation where you are blacklisted, you will one day not be blacklisted.

I mean I was once garnished; and in 2012 I had to appear before a Magistrate Court for failure to pay a debt I owed.

It was not an easy journey by any means, but it can be done.