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You Have Bad Credit, What Can You Do?

The first thing that you can do is to see if there is a U.S. Government Program that will cover you.  Actually, if you can qualify, you may be able to get either an FHA or a VA insured loan. Both those agencies have programs which deal with individuals with less than perfect credit.

The bad credit situation is actually easier to deal with than the no credit situation… But, it depends on just how bad is bad and what happened.  If you are in the NO Credit situation [Click Here] to go to that articleOtherwise, keep on reading…

What You Can Do If You Have Bad Credit

Here are the steps that we think that you should take if you have bad credit and there is no bad credit governmental program that can help you.

  1. First, you will need to get a copy of your credit report.  There are three major credit reporting agencies.  They are required to provide you with a FREE copy of your credit report once each 12 months under the terms of the Fair and Accurate Credit Transactions Act (FACT Act).The 3 national credit reporting agencies have set up a central website called annualcreditreport.comto help them comply with that law.  I think that you should use the service. The website is easy to use and provides you with all the information needed to get a copy of your credit files and includes information about how to dispute items in your credit report.Please note that the site doesn’t have a current security certificate but annualcreditreport.com is the site referenced by the FTC.  If you don’t trust me, go to the FTC.gov credit-related site by [clicking here] or typing the following into your browser’s address box:


  2. Review your credit reports from each of the agencies. You may find information that is incorrect.If you have had debts discharged as a part of a bankruptcy and your former creditors are still reporting late payments for discharged debts, you should definitely be able to demand the removal of the erroneous information.  If you discuss your case with an Attorney, you may also find that you have a civil case against the original creditor and/or the credit agency.
  3. You may challenge the information contained in each of your three credit reports.Unfortunately, you will need to contact each of the three credit agencies individually.  I suggest you start here:


    Remember the credit agencies were forced to cooperate with consumers by federal law.  And, never, ever forget that they work for the companies that want to check your credit.  They do not work for you.

  4. If you wish to challenge information in writing you could try sending registered letters demanding removal of the erroneous information to the appropriate address below.  You may need to contact the credit reporting agencies directly to make sure the addresses are correct.  Here are the addresses that we have:

    P.O. Box 740256
    Atlanta, Georgia 30374

    P.O. Box 9554
    Allen, Texas 75013

    P.O. Box 6790
    Fullerton, CA 92834

  5. If you do not feel that you have been treated properly by a Credit Agency or that a Credit Agency or Creditor is refusing to remove erroneous or “illegal to record” information, you can complain to the FTC.  Here’s their address and link to their website:

    Federal Trade Commission
    Consumer Response Center
    Room 130
    600 Pennsylvania Avenue, N.W.
    Washington, D.C. 20580