Bad Credit

Need help with bad credit? We can tell you how to get it.

Types of Help

Throughout this site, we've talked about the various ways you can get rid of your debt. If you have bad credit, it's a little harder, but not impossible. You can still enroll in a bad credit debt consolidation program. It works in the same way as any other debt consolidation program. Your debt consolidation company works with your creditors to get your interest rates reduced, but since you probably have had late fees, they try to get those removed as well. Then the balances are combined into one, and you make one monthly payment to the debt consolidation company.

Another benefit of a bad credit debt consolidation plan is the end to creditor harassment. Legally, once your creditors are notified that you are enrolled in a debt management program, they have to leave you alone. Any communication about your account is done through the debt management company.

Finally, when you enroll in a bad credit debt consolidation program, you get the benefit of having your accounts "re-aged." That means that if your creditors were reporting your accounts as late or that you missed payments altogether, they will report them as current when they've consistently received several on-time payments, thereby instantly improving your credit rating. It won't make your credit perfect--only time and good behavior with your credit cards and other debts can do that--but it will certainly get the ball rolling for you!

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