How to Deal with a Low Credit Score

Credit standards are tighter than they used to be. A low credit score today doesn’t mean you can’t work toward better credit health. Let the low credit score be the starting point for your journey toward a more robust score.

If your finances are in trouble due to a job loss or other factors, and it’s affecting your ability to pay your bills on time, you need to address this. If you can’t pay your bills, explain why to the credit issuers and try to negotiate lower payment terms or additional time to pay. Find out how they will report it to the credit reporting companies and get that in writing.

Find out where you stand and go from there. Get your score to see where you are. Then work toward paying off your debts.

Don’t let a low credit score discourage you. Credit scores can change, depending on your credit management, over time.