It’s perfectly normal to be worried about your credit score. After all, you’re constantly told that having a good credit score is important for a huge variety of reasons, and it’s a point of pride for many people. So what do you do when your scores are sinking like the Titanic because you’ve hit the “debt iceberg?”
Instead of letting your credit score sink to the ocean floor, or paying people to do credit “repair”, there’s a simple solution that will greatly benefit both your credit AND you: focus on paying off your debt.
Making consistent, on-time payments that reduce your balance is a surefire way help repair & improve your credit score.
What is a credit score, and how is it calculated?
Before we get into why paying off debt works to help repair your credit, let’s talk about the kinds of things that make up a credit score. It’s important to know that to understand just how paying off debt can help.