Broadly defined, consumer credit is any form of loan provided to individuals in order to buy consumer goods. Many people in Richland County, South Carolina deal with at least one common form of consumer credit on a regular basis: credit cards. Credit card debt is one of the biggest sources of individual debt in the U.S.

Why can't I Get Credit in Richland County, South Carolina?

The most likely reason as to why a Richland County, South Carolina bank won't give you a credit card or loan is that you have poor credit. Credit scores in Richland County, South Carolina are calculated by private companies known as "credit bureaus." These entities gather all the available information about your finances, look at how much debt you have, if you've paid it back in a timely manner, and other factors, and calculate a numerical score. This number provides possible lenders with a quick determination of how risky it is to lend money to a person. The exact formulas that these companies employ to create credit scores are trade secrets.

Under U.S. law, you have a right to see your own credit report once a year, for free (you can, of course, see it more times than that, but you'll likely have to pay a credit bureau. You should be cautious, however. Many websites claim to offer "free" credit reports, but require a credit card number in order to register. If you do not explicitly cancel your membership (which can usually only be done over the phone, and not online), they will start charging you a monthly fee.

How Can I Improve My Credit Score in Richland County, South Carolina?

To make your credit rating better, there are a few simple things you can do. First of all, you should check your report for mistakes and report them to the credit bureau to be corrected. Also, you should show that you are willing to use credit, but able to do so responsibly. For example, using a credit card for a few modest purchases per week in Richland County, then paying the entire amount at the end of the month.

Because credit reports are meant to be used by possible lenders to determine somebody's risk as a borrower, showing that you always (or close to it) pay your debts in a timely manner is the best way to improve your credit score, and to keep it high.

How Can a Richland County, South Carolina Lawyer Help?

A good Attorney who practices consumer bankruptcy or other financial practice areas in Richland County, South Carolina can be extremely helpful in resolving consumer debt issues. These issues can be very complex, and an Lawyer can make it much easier to navigate them.