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Bad credit is a low credit score or a credit report reflecting a negative and/or poor credit rating.

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Anytime a consumer is looking for a credit card, either from a department store, company or perhaps for a line of credit from a bank, or any type of loan, the application is sent to the credit bureaus for approval. The bureaus will verify the applicant by confirming their name, address, social security number and other key information to make sure they are researching the correct person.

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The application information, once confirmed, is used to provide a credit rating to a lending company. This rating will show whether the applicant is a good or bad risk when it comes to paying back the money that is borrowed. Anything that requires a credit application, including mortgages, purchasing a new car or financing appliances, is subject to a credit check.

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When a consumer has bad credit, their report will show that they are slow to pay back monies owed, if not entirely delinquent on some debts. It may also show that their debt outweighs their income. The damage from bad credit can take years for a consumer to repair due to high payments and high interest rates as well.

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Individuals may find that in the case of bad credit, it is still possible to get approved for a credit loan; however, the interest rate will be higher. This can cause the payments to be more than they can afford and will take longer to pay off.

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Lenders want to know that consumers will be able to repay the amount borrowed, or in the case of making a purchase, make timely payments. If a lender sees that timely payments were not made to other lenders, they will question whether the consumer is going to be a good risk for them to take.

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Some Standard Bad Credit Repair Counseling Advice

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Consumers should be aware of the different measures that will affect their rating, especially when it is already in bad condition. Inquiries on their credit, the amount of revolving debt, installment debt and open debt are all factors in a credit rating. Generally, all consumers need to be aware of the permanent damages that can occur with bad credit, especially if it is not repaired. There can be higher interest in mortgage payments and bad credit can also affect consumers from getting a job as well.

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Consumers that have bad credit may obtain help from many different resources. An excellent resource is credit counseling, and obtaining their assistance in developing a plan to get the creditors paid off and their score back in shape. Although a credit counseling company will require a copy of the consumer's credit report, there is no adverse effect on the current rating for the consumer.

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As a credit counseling and repair company, we at ACS can help with the situation that many consumers find themselves in when it comes to bad credit. We are able to set a plan in motion to quickly reverse the damaging effects of a negative report and help to rebuild it from the ground up.