Cambridge Consumer Credit Services

Find the right Consumer Credit attorney in Cambridge, MA

Consumer credit is a type of loan extended to ordinary consumers to buy consumer goods. Credit, broadly defined, is the provision of money from one entity to another, where the lender does not expect to be immediately compensated. Instead, the parties agree on payment at a later date, or in periodic installments. Many people in Cambridge, Massachusetts 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 Cambridge, Massachusetts?

The most likely explanation as to why a Cambridge, Massachusetts bank won't give you a credit card or loan is that you have bad credit. Credit scores in Cambridge, Massachusetts are calculated by private companies known as "credit bureaus." These entities collect 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 estimate 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 view your own credit report once a year, for free (you can, of course, view 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 affirmatively 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 Cambridge, Massachusetts?

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 usually fix it. It will also help to show that you can use credit responsibly. For example, if you have little to no credit history in Cambridge, and want to quickly build a positive credit rating, you can get a credit card, and make a few very small purchases with it each month. Make sure you don't run up a balance that you can't immediately pay off in full, and at the end of each month, pay the entire balance.

Because credit reports are meant to be used by potential lenders to assess 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 Cambridge, Massachusetts Lawyer Help?

A good lawyer in Cambridge, Massachusetts 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.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Cambridge

Cambridge is part of the Greater Boston area. It is home to famous universities such as Harvard University and Massachusetts Institute of Technology. Cambridge is home to around 105,162 people. It is the fifth largest city in Massachusetts.

Top employers include both Harvard and Massachusetts Institute of Technology, Mount Auburn Hospital, Biogen Idec, Genzyme, Novartis, and the Charles Stark Draper Laboratory. Many attorneys also live in or near Cambridge. Boston is home to many top-rated multinational law firms. There are also many small to mid-size law firms there as well. These firms train their attorneys to be the best and to succeed in winning any and every case, no matter how complicated the legal matter is.

Being such a historic place, there are any museums to visit in Cambridge. Popular attractions include the Harvard Art Museum, the Busch-Reisinger Museum, the Fogg Art Museum, the Arthur M. Sackler Museum, the Harvard Museum of Natural History, the Peabody Museum of Archaeology and Ethnology, Semitic Museum, MIT Museum, and the List Visual Arts Center at MIT.

Cambridge, with its historical influence, also has many wonderful buildings to visit and tour that depict beautiful architecture. Such buildings include the Asa Gray House, Elmwood House, the First Parish in Cambridge, Harvard Lampoon Building, Urban Rowhouse, and Memorial Hall at Harvard University.

Overall, Cambridge is a wonderful place to visit or call home.

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