Broadly defined, consumer credit is any form of loan provided to individuals in order to buy consumer goods. Many people in Swoyersville, Pennsylvania deal with consumer credit every day in the form of credit cards. In fact, credit cards are one of the biggest sources of individual debt in the U.S.

Why can't I Get Credit in Swoyersville, Pennsylvania?

If you're having trouble getting credit in Swoyersville, Pennsylvania the most likely reason is that you have no credit history, or a bad credit score. In Swoyersville, Pennsylvania, 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 compile relevant information, such as one's credit-to-debt ratio, and past-due payments, and use complex mathematical algorithms to produce a numerical score. Very few people know what these exact formulas are, since they are well-guarded trade secrets.

Under U.S. law, you have a right to see your own credit report once a year, for free (you can, of course, see 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 explicitly 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 Swoyersville, Pennsylvania?

The first thing you can do to improve your credit score is to check your report for errors. These companies are not perfect, and sometimes make errors in compiling your credit report, including extremely serious ones. If you find an error, you should report it to the credit bureau, and they will typically 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 Swoyersville, and want to rapidly build a good credit score, you can get a credit card, and make a few very small purchases with it every 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 whole balance.

Because credit reports are meant to be used by possible lenders to determine 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 Swoyersville, Pennsylvania Lawyer Help?

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