So in order to reduce your monthly payment and % on a bad credit loan (or any other loan) you must know what is on your credit report to be able to fix it, the point is not necessarily to get your credit to a perfect standing the credit report is like your scorecard in the lending world. every time you prepare yourself to acquire or purchase something that requires financial assistance from a lending institution, your credit report will be your "presentation Credit Reports bankbank.com 4 Steps to Finding thr Perfect Loan Home