Broadly defined, consumer credit is any form of loan given to individuals in order to buy consumer goods. Many people in Atlanta, Texas deal with at least one common form of consumer credit on a regular basis: credit cards. Credit card debt is one of the biggest sources of individual debt in the U.S.
Why can't I Get Credit in Atlanta, Texas?
If you can't get credit in Atlanta, Texas, it could be because you have a bad credit score, or simply don't have any credit history. Credit scores in Atlanta, Texas are compiled by private companies known as "credit bureaus." These companies gather all the available information about a person's finances, and then give them a numerical score, which provides a quick determination of the risk they represent to a lender. The exact formulas that these companies use to generate credit scores are closely-guarded trade secrets.
Under U.S. law, you are legally entitled to one free credit report per year. This allows you to perform a simple financial check-up, to see what's affecting your credit, and to report any incorrect information contained in your report. There are various websites that provide easy access to this information, but most of them require registration with a credit card. Once you view your free report, they will begin charging you a monthly fee unless you opt out. Some of them make this hard by requiring that you cancel your membership by phone, rather than letting you do it online.
How Can I Improve My Credit Score in Atlanta, Texas?
To improve your credit score, you can do a few fairly simple things. First, you should check your credit report for mistakes, and report them to the credit bureau so they can be corrected. 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 modest purchases per week in Atlanta, then paying the entire amount at the end of the month.
Credit reports are meant to be a tool for lenders to easily determine a person's risk as a borrower. Therefore, showing that you are able to pay back your debts on time can be extremely effective in creating a good credit score.
How Can a Atlanta, Texas Lawyer Help?
A good attorney in Atlanta, Texas can be very useful in helping you resolve any consumer credit issue, such as bankruptcy, or getting mistakes removed from your report if the credit bureau is being difficult.