How to Refinance with Credit Problems

Sometimes you need to refinance your credit card debt or mortgage to be able to make payments. If you have a low credit score, it might be hard to get the refinancing you need. It isn't impossible, though, as there are ways to perhaps improve your credit and talk to lenders to help you make payments.

Instructions

1

If you haven't yet, check your credit report for errors. Write to the credit bureaus and fix these to help improve your score.

2

Talk to a credit counselor who can help with credit repair and improve the look of your credit report. Wait to review the refinancing option until all credit repair changes are made to have the best score possible.

3

Talk to the lender of the debt to be refinanced, and ask about your options. If it is a credit debt or a mortgage, the lender might have special offers or savings if you refinance with them.

4

Use online options to check with multiple lenders at one time, instead of going from bank to bank, to help save time. Proof of employment makes it easier for lenders to approve your request for refinancing.

5

Check with multiple lenders and evaluate your options. Call if you have questions and talk to them if they feel your credit score might be a problem, or enlist a credit counselor, as some can act as a mediator if you need help to reduce the payment to stay out of debt.