Consumer credit is any form of credit extended to an ordinary consumer. Credit, broadly defined, is the provision of a resource (usually 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 Tulare County, California 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 Tulare County, California?

If you are unable to get credit in Tulare County, California, it may be because you have a bad credit score. In Tulare County, California, credit reports are prepared by private companies that have access to a great deal of financial information about almost anyone who has a Social Security Number. These companies are called "credit bureaus." They collect relevant information, such as one's credit-to-debt ratio, and past-due payments, and use complex mathematical algorithms to produce a numerical score. Very few people know what these exact formulas are, since they are well-guarded trade secrets.

Under U.S. law, you are legally entitled to one free credit report per year. This allows you to perform a simple financial check-up, to see what's affecting your credit, and to report any incorrect information contained in your report. There are countless websites that provide easy access to this information, but most of them require registration with a credit card. Once you view your free report, they will begin charging you a monthly fee unless you opt out. Some of them make this difficult by requiring that you cancel your membership by phone, rather than letting you do it online.

How Can I Improve My Credit Score in Tulare County, California?

To improve your credit score, you can do a few fairly simple things. First, you should check your credit report for mistakes, and report them to the credit bureau so they can 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 Tulare County, then paying the entire amount at the end of the month.

Credit reports are primarily meant to be used by lenders to determine the risk of a prospective borrower. For this reason, how one handles debt is a major factor in one's credit score. Paying all of your debts in a timely manner is a good way to keep a high credit score.

How Can a Tulare County, California Lawyer Help?

A good Attorney who practices consumer bankruptcy or other financial practice areas in Tulare County, California 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.