Tuesday, September 29th, 2009

Is it possible to have good credit with low income?

When I try and look at community resources for housing (Oregon) I only find help for people who have low income but good credit. Isn’t there any help out there for low income with bad credit when they are so obviously such a high financial risk?

Income and credit are not related. Either you believe in paying your bills or you don’t. There are just as many unethical people with high income as their are with low income.

This entry was posted on Tuesday, September 29th, 2009 at 8:50 pm and is filed under Credit Resources. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

4 Responses to “Is it possible to have good credit with low income?”

G N A Says:
September 30th, 2009 at 2:17 am

I think you answered your own question. No one is willing to take the high financial risk that comes with someone who has bad credit and low income.

They are being realistic: If your credit is low, how did you allow yourself to get into a position that your credit is bad. To them it shows irresponsibility and lack of financial sense. They do not want to become another person that is owed money they will never collect.
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aussie_guy Says:
September 30th, 2009 at 2:52 am

the only thing that would help you is if you changed from having bad credit to having good credit. There are a number of ways to do this such as start a savings record, doesn’t matter how much you save even if its 25 dollars a week its in your favor. the more risky option is to get a credit card, use it for purchases you have the money for and pay it off that day, at the end of the week or month. You will just have to jump through the hoops to get a better credit rating will take 6 months to a year. search google with: increase credit rating for more options.
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loan broker

bpl Says:
September 30th, 2009 at 3:29 am

It is possible to have good credit with low income. Now if you have low income and bad credit like you also asked, then you are in a bad spot for now.
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Landlord Says:
September 30th, 2009 at 3:41 am

Income and credit are not related. Either you believe in paying your bills or you don’t. There are just as many unethical people with high income as their are with low income.
References :

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