We have the information to help your high debt situation. Unfortunately, we are fully aware of the fact "getting out of debt is a long and tedious process, but once you make up your mind to take action on your debts. . . getting out of debt can be done"
Are your debts spinning out-of-control? If making on-time payments on those bills has become a problem, there are some things you can do such as improving your FICO score.
Of course the obvious solution is to pay the bills off in-full. Far easier said than done! As an alternative, a good FICO score can help you to possibly consolidate your debts with a bank debt-consolidation loan on good terms and a reasonable interest rate. It all depends heavily on your FICO score.
What's the Impact of FICO® Scores on getting Debt Consolidation Loans, other Financing and Loans?
- 720-850 - Excellent - This is the best FICO
scoring range and will receive the best interest rates and financing terms - 850 is the highest possible fico score.
- 700-719 - Very Good - Qualifies for favorable
financing terms and rates.
- 675-699 - Average - A score in this mid-range
will often qualify for most loans.
- 620-674 - Sub-prime - Low mid-range but still
may qualify, but higher interest rate.
- 560-619 - Risky - These people will have trouble
obtaining financing even at higher rates or not so good terms.
- 500-559 - Very Risky - Credit almost impossible
to get. Must work very hard improving their FICO score - 500 is the lowest possible fico score.
The three major nationwide credit reporting agencies are Equifax, Experian and TransUnion. Contact information is below for the credit reporting agencies and links to their web sites to get a free annual credit report or how to file disputes about inaccurate credit information:
Equifax - www.equifax.com
To report consumer credit report fraud, please call: 1-800-525-6285
and write: PO Box 740241 Atlanta GA 30374
Go to Equifax.com web site for information on disputing credit errors.
Experian - www.experian.com
To report credit report fraud, please call: 1-888-EXPERIAN (397-3742)
and write: PO Box 9532 Allen TX 75013
Visit Experian.com online dispute form for disputing credit report error.
TransUnion - www.transunion.com
To report fraud, please call: 1-800-680-7289
and write: Fraud Victim Assistance Division
PO Box 6790 Fullerton CA 92834
Go to TransUnion.com to file disputes over credit reporting errors.