Can credit be fixed? Published Aug. 25, 2006 By Kimberly Champagne 20th Fighter Wing Public Affairs SHAW AIR FORCE BASE, S.C. -- (Editors note: This is the final article in a credit series.) Damaged credit has many causes but the effects are the same. It is necessary to have good credit to buy a house or get a low interest rate on many important purchases."If an Airman has spent years spending irresponsibly, the time may come when he or she will want to buy something significant. The harsh reality is, careless behavior does have a price; they are probably not going to get approved," said William Agboruche, Airman and Family Readiness Center Personal Finance Management Program manager. "The road to fixing credit is hard but it can be done," he said. Airmen need to start by requesting their credit report. Once they see what they owe, then restoring credit can begin, he said. "It will take time and diligence. Make arrangements with past creditors to make payments on loans and credit cards that have gone into default; that will improve a credit score immediately. Make payments on time to current creditors," he said."Pay highest interest loans first, then look for promotions that offer a lower interest rate to transfer," said Reba Hyder, Wachovia Financial Center Manager officer. She said if possible, to pay more than the minimum payment so loans and credit card debt will be paid off more quickly. If you are unable to get a loan due to poor credit history, you can begin to establish good credit again by depositing money at a bank or credit union and borrowing against that deposit. This is called a secure loan. Secure loans are a great way to help improve credit, Mr. Agboruche said. Any borrower is entitled to a free credit report annually. In addition, if a borrower has been denied a loan, he or she can request a free credit report from any of the three major credit reporting agencies: Equifax, Experian or TransUnion. For more information, visit www.annualcredit.com or call (877)-322-8228.