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Analysis

If you’re struggling with overdue loan payments, high credit card balances or collections notices, you may be feeling the burden of bad credit. This can prevent you from accomplishing financial milestones such as purchasing a new car or your dream home. Bad credit also can mean racking up interest, leaving you with a mountain of debt that may seem impossible to pay off. 

 

The average credit score in the U.S. is currently 714, which is considered good. However, these scores fluctuate significantly depending on state and age. Even though Americans have the highest recorded consumer debt in history at $14.3 trillion, credit scores are on the rise. Fortunately, with the right financial practices, you can fix your credit.