As is usually the case, even situations as troubling as today's credit crunch have a silver lining. In the case of the credit crunch, the lining is that the cost of large purchases are falling. Plummeting interest rates with already decreased prices combine to make right now one of the best times in decades to buy a home or a new car.

But there is a catch.

Not everybody can benefit from this opportunity. Credit today is more difficult to come by, hence the term "credit crunch". After years of reckless lending resulting in a record number of defaulted loans, repossessions, and foreclosures, lenders have been forced to be more conservative in their lending practices. They are only able to lend to the least risky consumers.

Lenders determine credit risk by looking at your credit score. A low credit rating tells them that you can't be counted on to pay your debts on time and maybe not at all. As a result lenders will deny credit to people they feel are too high of a risk, and charge higher interest rates to those who are a moderate credit risk to make sure they can still make money even if a small percentage of those people default on the loan.

Today, lenders tolerance for risk is much lower than in the past. A credit score over 750 is now required in many cases to get approved for a loan with the lowest interest rate and the best terms. A credit score lower than that, and you have to pay extra. Too far below, and you run the risk of being denied for credit altogether.

But what if your credit report says you are a high credit risk, even when you aren't?

Credit reporting errors, flawed scoring formulas, and irrelevant credit listings combine to give many people credit scores that are not representative of their actual credit worthiness. They are responsible consumers, but their credit scores tell a different tale. For people in this situation, fixing their credit score may be the best option for getting the credit score they deserve.

If your credit is holding you back, don't just wait for things to get better. You have the right to a fair and accurate credit score and there are steps you can take to legally fix your credit. Take action today and you may even be able to benefit from the credit crisis.