Consumer credit is any type 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 Cairo, Georgia deal with 1 type of consumer credit almost every day: credit cards. These little pieces of plastic are one of the biggest sources of consumer debt in the United States.

Why can't I Get Credit in Cairo, Georgia?

If you can't get credit in Cairo, Georgia, it could be because you have a poor credit score, or simply don't have any credit history. Credit scores in Cairo, Georgia are compiled by private companies known as "credit bureaus." These companies compile all the available information about a person's finances, and then assign them a numerical score, which provides a quick assessment of the risk they represent to a lender. The exact formulas that these companies use to generate credit scores are closely-guarded trade secrets.

U.S. law states you are entitled to one credit report per year for free. This will allow you to see your credit score, and any factors that might be hurting it, which can help you improve it in the future. You should be aware, however, that many websites offering a "free" credit report will begin charging you a monthly fee a month after you register, and then make it very difficult for you to cancel your membership, requiring you to do so over the phone rather than online. They also sometimes only tell you about this fee in the fine print.a

How Can I Improve My Credit Score in Cairo, Georgia?

To improve your credit, there are many things you can do. First of all, you should report any errors you see on your credit report to the credit bureau. These companies sometimes make mistakes, and some of them can seriously damage your credit score. 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 inexpensive purchases per week in Cairo, then paying the entire balance at the end of the month.

Credit reports are a tool for lenders to assess how risky it is to loan money to someone. Therefore, showing that you routinely pay your debts in a timely manner is the best way to maintain a good score.

How Can a Cairo, Georgia Lawyer Help?

An experienced Cairo, Georgia Attorney specializing in consumer financial issues can help if you believe that your credit score reflects false information, or if you think a third party has maliciously damaged it.