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What is a bad credit score? Financial industry term for a credit history indicating that a person is a high credit risk. A credit score of less than 560 is generally considered to be a bad credit score.

Lenders use your credit reports and your credit scores to make assumptions about your credit risk. The lower your credit score, the more risky they feel it is to lend you money, and the higher interest rates they will charge if they are willing to approve your loan request at all. Having a bad credit score mean that lenders will consider you to be a high credit risk.

Even more, there are a number of other entities that will use your credit history to make assumptions about you. Landlords, insurance companies, and potential employers may all consider your credit score. Bad credit could contribute to you being denied an apartment, being charged higher insurance premiums, or even not getting hired for a new job.

Because credit impacts so many aspects of our lives, bad credit is one of the most detrimental labels a person can be assigned in today's credit driven society. Unfortunately for many people, however, their bad credit label is undeserved.

Bad credit is a major problem, and the climb back to financial health can prove difficult without the right tools. Although you can do it yourself, the process of credit repair can require time, knowledge of federal consumer laws, and meticulous communication skills and record-keeping. Many people struggle with credit repair simply because they do not understand all of the elements involved.

Questions arise, such as:
What factors affect my credit score?
Where can I find a copy of my credit report?
Can I investigate or dispute negative items on my report?
Is it only about credit bureaus?
I want to get started with my credit repair, but who should I contact?

Disputing questionable bad credit
Thousands of people who are considered to have bad credit based on the information in their credit reports are in actuality, not a high credit risk. The information in their credit reports is giving lenders an unfair impression of who they are and they are suffering the consequences in the form of high interest rates and other bad credit related expenses.

Fortunately, the law affords people who are being unfairly labeled as having bad credit with the ability to dispute any of the questionable items in their credit reports in an effort to have them permanently removed.

 

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