You may have been able to prevent debts if you had realized who you currently owe money to and just how much you owe. At this point, you need to practice some crisis prevention and start fixing your score. Follow these tips to repair a bad credit score quickly and efficiently.

Fha Loan

Getting home financing is no small feat, especially if your credit score is less than perfect. If your income is a factor you may qualify for a FHA loan, which has lower standards and makes the federal government your lender in a sense. You may even be able to secure your down payment and closing costs through an FHA loan. It depends on if you qualify.

If you don’t want to pay too much at a time, you can avoid paying higher interest rates than you started with. You may be able to challenge an interest rate that is extremely high. You did sign a contract saying that you would pay off the debt. If you plan on suing your creditors, you may be capable of having the interest rates viewed as being too high.

Work with the companies to whom you owe money to get your debt back under control. Doing so will help you to ensure that you do not go further into debt and make your credit worse. You can do this by speaking with them and asking to change the monthly charges or due date.

Before consulting a credit counseling agency, be sure to check out their background and history. Many companies are legitimate and hold your best interests as a priority, but some are outright scams. Some are just people trying to scam you. A savvy consumer will always do his or her research on any credit counseling service to ensure that the agency is legitimate.

Dispute any errors that are on your credit report so they are removed. A dispute letter should be sent to any of the agencies that are reporting the error. Be sure to include supporting documents. Sending your letter by certified mail provides you with proof that the letter was received.

You should have noticed that the preceding tips have a common theme–they are mostly based on common sense. You can easily achieve your goal by using these tips.

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