Information on Financial Help for People With Bad Credit

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.

Credit Types

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

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

Explore Resources

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

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

Time Frame

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

• FICO
• Median Score
• Standards

Resources

• Consumer Credit Counseling
• Credit Information
• Credit Union
• Payday Loans