Credit, broadly defined, is the provision of money on the assumption that compensation for it will come later, or over time. Consumer credit is simply credit extended to individuals in order to purchase consumer goods or services. Most people in Ironton, Ohio probably deal with consumer credit every day in the form of credit cards.

Why can't I Get Credit in Ironton, Ohio?

If you are unable to get credit in Ironton, Ohio, it might be because you have a poor credit score. Credit scores in Ironton, Ohio 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.

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 usually have to do so over the phone, and can't do it online.

How Can I Improve My Credit Score in Ironton, Ohio?

To improve your credit rating, there are many things you can do. First, you should check your credit report for errors and report them to the credit bureau. These companies can make mistakes like anyone else, and sometimes these errors can damage your rating. 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 Ironton, then paying the entire balance at the end of the month.

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 Ironton, Ohio Lawyer Help?

A good lawyer who practices consumer bankruptcy or other financial practice areas in Ironton, Ohio can be very helpful in resolving consumer debt issues. These issues can be very complex, and an attorney can make it much easier to navigate them.