Consumer credit is any type of credit extended to an ordinary consumer. Credit, broadly defined, is the provision of a resource (typically money) from one party to another, where the first party does not expect to be immediately compensated. Instead, the parties arrange for payment to come at a later date, or over time, in installments. Many people in Chelsea, Alabama deal with consumer credit every day in the form of credit cards. In fact, credit cards are one of the largest sources of individual debt in the U.S.
Why can't I Get Credit in Chelsea, Alabama?
If you're having trouble getting credit in Chelsea, Alabama the most likely explanation is that you have no credit history, or a poor credit score. In Chelsea, Alabama, private companies called "credit bureaus" collect a person's credit score using all available information about their finances, including their debt-to-credit ratio, records of evictions, and late payments. All of this information is fed into complex mathematical algorithms that calculate a numerical score. Exactly how these scores are calculated is known to very few people, since the formulas used are tightly-guarded trade secrets.
In the U.S., you have a legal right to view your credit report for free, once per year. This is a good opportunity to perform a financial check-up, and see if there are any errors on your report which need to be corrected. While some third-party companies will give you a free credit report through their website, you should be aware that many of them (without making this clear up-front) will begin charging a monthly fee afterwards, in exchange for continued access. If you just wanted the one free report, you can opt out of this, but you typically have to do so over the phone, and can't do it online.
How Can I Improve My Credit Score in Chelsea, Alabama?
The first thing you can do to improve your credit score is to check your report for errors. These companies are not infallible, and sometimes make mistakes in compiling your credit report, including very serious ones. If you find an error, you should report it to the credit bureau, and they will typically fix it. It also helps to show that you are willing to use credit, but can do so responsibly. For example, if you have little to no credit history in Chelsea you might consider getting a credit card, making a few small purchases each month on it, and then paying off the balance in full at the end of each month. This takes a bit of discipline, but it is a good way to quickly establish a good credit rating.
Credit reports are meant to be a tool for lenders to easily assess a person's risk as a borrower. Therefore, showing that you are able to pay back your debts on time can be very effective in creating a good credit score.
How Can a Chelsea, Alabama Lawyer Help?
A good lawyer in Chelsea, Alabama can be extremely useful in helping you resolve any consumer credit issue, such as bankruptcy, or getting errors removed from your report if the credit bureau is being difficult.
He helped more then anyone I've spoke to, even though I only spoke to him over the phone the phone for now, he made me feel alot less stressed out for my case ahead. Thank you very much for everything! He helped me understand more about what is going on.
We just hired Ian and have had several phone conversations with him we also met one time so far but he was very responsive, knowledgable and up front. I feel he will do a great job defending my Grandaughter enabling her to continue the stable life she has. Thank you Ian for helping us!
Ian is very caring and professional. He called me, even though he knew his experience level did not equal my case, he helped me find the right lawyer for my son and now I have him working with the lawyer I hired as lead on our case. Thank you Ian. I appreciate your help more than I can put into words.
Ian Musselman did a great job for me on fairly short notice. There was a lot of info involved in my case. Ian was aware of the facts and well prepared when it was time for court. He did a great job in representation and presenting the facts, as a result the outcome was in my favor.