It’s no surprise that there are so many people facing the hardships of bad credit today given the current state of the economy, yet don’t become discouraged because of this. Read on for some insightful techniques to improve your credit.

Having poor credit makes financing a home a nightmare. There is, however, alternative types of funding available that are offered by the banks. FHA and USDA are two such agencies who offer finance to those with lower credit scores, sometimes with low down payment and closing cost clauses. FHA loans offer lower down payments and help with closing costs.

When you want to fix your credit, you need to start somewhere. Have a realistic plan and stay with it. You need to make a commitment to changing your spending habits. Only buy the things that are absolutely necessary. Before you open your wallet ask the questions “do I need this?” and “can I afford this?” If the answer is no to either, put it back on the shelf.

Credit Card

If your credit does not allow you to obtain new credit, getting a secured one is much easier and will help fix your credit. Secured credit card applications have a high rate of approval because you must fund a security deposit against your credit limit. If you use a credit card responsibly, you will go a long way in repairing your credit.

You can lower your debt by refusing to acknowledge the part of your debt that has been accrued by significantly high interest rates. It is bordering on illegal for credit card companies to charge you skyrocketed interest rates. However, you have entered into a legal agreement that requires you to pay accrued interest. The only way you are legally able to sue the creditors is if you are able to prove that your interest rates are much too high.

When beginning your credit score improvement journey, remain wary of companies pledging to get negative credit report entries deleted, especially if those entries are accurate. Bad marks on your report will not go away for seven years. You should know that mistakes and anything incorrect can be removed from your credit report.

Credit Score

Don’t put off until tomorrow what you can do today, especially now that you are armed with the necessary tools to put a plan into motion. Do not allow your credit score to dictate the way you are able to live your life. You can use the techniques that have been provided to improve your credit score and live a more fulfilled life.

There are tremendous opportunities for small businesses and social entrepreneurs to support their communities through community foundations, donor advised funds and other means of giving back. Find the neighborhoods in Seattle, Washington where you can make the most impact on the youth in the community.