Single mothers know that they are having it hard. No one can ever say that raising a child alone is easy. What’s meant to be a two person job suddenly becomes a single person’s job. As though it’s not hard enough as it is, the single mother normally has to spend time at a job just to make ends meet. Working to put food on the table and to see her child gets the best future possible. There is however another angle that most people forget to see, that is their credit rating. Specifically, their bad credit rating.
A recent study by the US Loans Association suggested that single parents have higher incidents of poor credit ratings compared to other standard two parent families. The quantum is quite significant in that the credit ratings of single parents are on average 18% worse than those from a standard two parent family. The numbers get even worse when talking about single mothers. They have credit ratings that are on average 23% lower than normal.
The poor credit scores of single mothers is another obstacle that they have to wrestle with in addition to all the other mounting responsibilities that they already have. Their poor credit history means that they will normally find it difficult to get financing for anything like a car or even a house. The will be forced to take public transport and to rent a home which again places pressure on cash flow and also hinders the accumulation of assets for a better future.
Fortunately, single mothers don’t need to accept this situation as fate. There is a way out of a bad credit history and find loans for important things like transport and your own home. There are many loan aggregators like CreditRelease.com that offer bad credit loans for individuals with poor credit. Single mothers with poor credit can still obtain financing for important purchases even if they have been turned away from other conventional lenders.
In addition to poor credit financing services, CreditRelease.com also offers individuals with bad credit a chance at improving their credit rating through either signing-up for their credit repair services or just reading about improving their credit history in their free Education section. Single mothers who feel trapped by their poor credit will certainly find some nuggets of information that will help them to take steps at tackling their bad credit financing problem.
Single mothers already have their share uphill challenges. Poor credit rating and bad credit financing shouldn’t be one of them. The reality is that bad credit loans and other financing facilities are available, but unfortunately most don’t know where to look. If you need help with your credit score or need financing, please head over to CreditRelease.com where you’ll find the solution for your loans issue.
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