Consumer credit is any form of loan given by some lending institution, usually a bank, to individuals for the purchase of consumer goods. Most people living in Washington County, Utah deal with at least one form of consumer credit every day: credit cards. In fact, credit cards are one of the biggest sources of consumer debt in the United States.

Why can't I Get Credit in Washington County, Utah?

If you can't get credit in Washington County, Utah, the most likely explanation is that you have a bad credit score. In Washington County, Utah, credit scores are created by private corporations called "credit bureaus." These companies gather all the available financial information on a person (such as the amount of credit currently available to them, and its ratio to their debt) and use it to calculate a simple numerical score. This number gives would-be lenders an easy way to assess a person's risk as a borrower. It is not known to many individuals exactly how your credit score is calculated, because the formulas used by these companies are closely-guarded trade secrets.

Under federal law, you are legally entitled to see your credit report for free, once per year, which will let you view what factors are affecting 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 start 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 Washington County, Utah?

To improve your credit, there are various things you can do. First of all, you should report any mistakes you see on your credit report to the credit bureau. These companies sometimes make errors, and some of them can seriously damage your credit score. It also helps to show that you are willing to use credit, but can do so responsibly. For example, if you have little to no credit history in Washington County you may consider getting a credit card, making a few small purchases each month on it, and then paying off the balance in full at the end of every month. This takes a bit of discipline, but it is a good way to rapidly establish a good credit rating.

Credit reports are a tool for lenders to determine how risky it is to loan money to someone. Therefore, showing that you consistently pay your debts in a timely manner is the best way to maintain a good score.

How Can a Washington County, Utah Lawyer Help?

A good Attorney specializing in consumer bankruptcy or other consumer finance issues in Washington County, Utah can be instrumental in resolving consumer debt concerns. These issues can be complex and frustrating, and an Attorney can make the navigation of them much easier.