Consumer credit is any type of credit extended to an ordinary consumer. Credit, broadly defined, is the provision of a resource (normally 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 Kennesaw, Georgia deal with 1 type of consumer credit almost every day: credit cards. These small pieces of plastic are one of the biggest sources of consumer debt in the United States.

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

If you can't get credit in Kennesaw, Georgia, it could be because you have a poor credit score, or simply don't have any credit history. Credit scores in Kennesaw, Georgia are calculated by private companies known as "credit bureaus." These entities compile 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 potential lenders with a quick assessment 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.

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 various websites offering a "free" credit report will begin charging you a monthly fee a month after you register, and then make it very hard 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 Kennesaw, Georgia?

To make your credit score better, there are a few simple things you can do. First of all, you should check your report for errors and report them to the credit bureau to be corrected. Also, it's good to show that you know how to use credit responsibly. For example, a person in Kennesaw with no credit history can quickly build up a good credit rating by getting a credit card, making a few small purchases with it, and then paying the whole balance at the end of each billing cycle.

Because credit reports are usually meant to make it easier for potential lenders to assess your risk as a borrower, showing that you pay back your debts in a timely manner can go a long way in creating a good credit score.

How Can a Kennesaw, Georgia Lawyer Help?

An experienced Kennesaw, 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.