Bad Credit
[bad kred-it] n. 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.
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. Lexington Law has helped people like this legally remove millions of questionable items from their credit reports including late payments, collections, charge offs, and bankruptcies.
FAQ: Does paying my bills restore my bad credit?
The cost of bad credit - online calculator
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.
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. Lexington Law has helped people like this legally remove millions of questionable items from their credit reports including late payments, collections, charge offs, and bankruptcies.
More information about bad credit
FAQ: How can bad credit be repaired?FAQ: Does paying my bills restore my bad credit?
The cost of bad credit - online calculator
Client Results
As the leading firm in credit report repair, Lexington Law assists our clients in the removal of over a thousand questionable items from credit reports every single day.What kind of questionable negative items can be removed from reports?
Listed below is a partial list of the types and number of items our clients removed last quarter:**Bankruptcy
2,186
Charge Off
29,700
Collection
73,827
Foreclosure
678
Incl. in Bankruptcy
10,237
Judgment
6,928
Late Payment
38,128
Lien
4,236
Repossession
1,170
Settlement Accepted
4,029
*Important: While the testimonials and other information on this website may be exciting, Lexington Law promises only to perform the steps we've agreed to in each client's case and to charge each month only for steps already completed. As with any legal work, no outcome is promised. Your results may vary.
“Just want to say a big THANKS for your updates. I will continue to do my part and getting the info to you all as soon as it is available to me.
Again thanks for your help and responses. It's people like you that give customer relations and customer service a good name.”
— A., Lexington client*
(Your results may vary)
— A., Lexington client*
(Your results may vary)
© 2009 Lexington Law™ All rights reserved. John C. Heath, Attorney at Law, PLLC. The services of Lexington and its affiliates may not be available in all states. Lexington Law is a group of law firms that may also be referred to throughout this site as "Lexington," "Lexington Law Firm," "we," "us," or "the firms". The number of items removed represents the combined results of the group. Terms of Use were last updated on 02/24/2006. Privacy Policy was last updated on 02/24/2006. // 1.0.1