Broadly defined, consumer credit is any type of loan given to individuals in order to buy consumer goods. Most people living in Lebanon, Oregon deal with at least one form of consumer credit every day: credit cards. In fact, credit cards are one of the largest sources of consumer debt in the United States.

Why can't I Get Credit in Lebanon, Oregon?

If you're having trouble getting credit in Lebanon, Oregon the most likely explanation is that you have no credit history, or a poor credit score. In Lebanon, Oregon, 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 take relevant information, such as one's credit-to-debt ratio, and past-due payments, and use complex mathematical equations to generate a numerical score. Relatively few people know what these exact formulas are, since they are well-guarded trade secrets.

Under federal law, you are legally entitled to view your credit report for free, once per year, which will let you see what factors are hurting your credit, and report any errors to the company. Many websites have been set up to give you easy access to this information. However, most of them require registration with a credit card, and will begin charging you a monthly fee once your free trial period is up, unless you clearly opt out.

How Can I Improve My Credit Score in Lebanon, Oregon?

To improve your credit rating, you can do a few relatively simple things. First, you should check your credit report for errors, and report them to the credit bureau so they can be corrected. It will also help to show that you can use credit responsibly. For example, if you have little to no credit history in Lebanon, 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.

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 Lebanon, Oregon Lawyer Help?

A good lawyer who practices consumer bankruptcy or other financial practice areas in Lebanon, Oregon 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.