As is often times the case, even situations as concerning as the current credit crisis have a silver lining. And in the case of the credit crisis, the lining is that prices for big ticket items are dropping. Plummeting interest rates with already decreased asking prices combine to make right now one of the premier times in decades to buy a home, refinance your existing home, or get a new car.

But there is a catch.

Not everybody can take advantage of this great opportunity. Credit today is harder to come by, hence the term "credit crunch". After years of reckless lending and a record number of defaulted loans and foreclosures, lenders have had to become more conservative in their lending practices. Today, they are only willing to extend credit to the lowest risk consumers.

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

Today, lenders tolerance for credit risk is far lower than in the past. A credit score over 750 is now required in many cases to get approved for a loan with the best 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 happens if your credit report says you are a high credit risk, even though you really aren't?

Credit errors, flawed scoring formulas, and irrelevant negative credit information combine to give many people credit scores that are not indicative of their true 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 rating they deserve.

So if your credit score 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 fix your credit. Take action today and you may even be able to benefit from the credit crisis.