Frequently asked Questions for Bad Credit

Question: My credit is REALLY bad is there any hope?
Answer: Unless you are in a bankruptcy which has not yet been discharged your credit should not stop you from getting a loan. The problem may come when you try to make all aspects of the transaction come together including the loan to value, rate, and debt ratios. Our network is filled with lenders who specialize in loans for people with very bad credit so your chances of finding the loan you need is greatly increased.

Question: How do I maintain "good" credit?
Answer: Stay within the set credit limit on your credit card and keep track of how much credit you have left. Second, always pay at least the minimum amount due on time. Paying late will result in late payment fees and negative reporting to major credit bureaus.

Question: Does buying a used car really help me re-establish my credit?
Answer: Yes, when checking with the credit bureau, many lending institutions look at car loans closer than any other type of loan (other than home loans) to verify your credit standing. Secured credit cards are no help at all--you are really borrowing your own money with the glory of having a piece of plastic in your wallet. Buying a car from a "buy here pay here car lot", they do not report to the credit bureau's either and does not help your credit record at all.