Information on Financial Help for People With Bad Credit

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By Marie Miller
eHow Contributing Writer

Article Rating: (1 Ratings)

Obtaining financial help when you have bad credit is often a quixotic enterprise, impractical and expensive. But if you persist, you'll find that getting financial assistance may be more difficult with bad credit, but it isn't impossible.

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Information on Financial Help for People With Bad Credit
Obtaining financial help when you have bad credit is often a quixotic enterprise, impractical and expensiv… More

Credit Types

Search through online databases.
Obtain your credit score to confirm that you do have bad credit. Individual credit is determined by a three-digit FICO score that ranges from 300 to 850 with a national median of 720.

Research

Seek out traditional loans
Search through credit databases (see Resources section) to find out which creditors grant credit to individuals with your FICO score.

Explore Resources

Get free credit improvement help.
Contact your credit union or professional guild for loan assistance. They might be more likely to approve your loan, especially if you have a well-established relationship.

Improve Credit

Rebuilding credit takes time.
Seek free assistance with debt reorganization and credit counseling from non-profit organizations, such as Consumer Credit Counseling Services.

Time Frame

Be wary of high interest loans and expensive credit repair services.
Recognize that this won't be done overnight. Rebuilding your credit is a long, tedious process.

Warning

Avoid high-interest payday loans or services that charge exorbitant fees for credit repair that you can easily do yourself.

References

Resources

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A Bad Credit Score is 598 or Below. Checking your own Credit Report won't affect your score! See instantly for $0 by Experian® www.FreeCreditReport.com

Comments

lawrencebussani said

Flag This Comment

on 12/19/2009 Great article 5 start for that information

I know a site that offer free credit report.They also offer credit monitoring, bad credit help, credit fraud alerts.I thought to share it here.

http://www.CreditReportFrees.Info