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I just came across a pretty good article on aol.com although it had some wrong information.  The article is titled:

How Foreclosure Affects Your Credit Score and Your Life

I think it is a good article because it gives some hope and helpful advice to those of us who have had to face foreclosure.  It had some misinformation however.  Here is a quote from the article:

“”Lower credit scores can result in being denied credit, such as credit cards and car loans, and facing much higher rates for loans and even other items, such as insurance, that rely on credit scores,” explains Andrew Housser, co-CEO of Bills.com, a free consumer personal finance resource.”

Now I am not sure about all car title loan lenders, but the ones I recommend do not do credit checks.  So it doesn’t matter if your score is excellent or poor.  As long as you have a clear title on your car, you can get a car title loan.  So here is a link to a good car title loan website.  The article says that you face much higher rates, but because there is no credit check done you will get the same flat rate regardless of your credit score. 

There was some helpful advice for how to handle your credit so that you can get out of credit issues in the future.  If you are thinking of applying for bankruptcy, for example, it usually takes 7 years to recover.  But the article states that there are ways to avoid bankruptcy.  First of all, the more negative accounts you have on your score the worse the score is.  So the author suggests that while foreclosure can lower a score, you should try to continue to make minumum payments on other loans and credit cards.  This way you are in good standing with your other accounts. He also says that in order to do this you may have to limit your spending for a while.  That might mean only paying for the necessities.  Cost cut suggestions include cell phone, cable, dining out, and other excess spending.   If you avoid bankruptcy and continue to keep your account balances low and make timely payments you score can recover in as little as two years.  The other positive news is that if you are looking to buy a home in the future, you can secure a home loan is as little

Look at your options. A car title loan could be right for you.

as 5 years.  So if you are worried about having to come up with some money and are facing a difficult financial situation do not worry about your credit score.  Visit a car title loan site to learn more.