Help! My Credit is Shot!
Many people today are suffering due to low credit scores. Often this is because of derogatory or fraudulent information on their credit reports. This damage can result from a variety of factors.
There are three main contributors to low credit scores.
- Delinquency due financial distress
- Bankruptcy / debt relief / debt repayment programs
- Reporting of fraudulent or inaccurate information
These negative factors can lead to higher minimum payments on loans, higher interest rates, higher insurance premiums and even denial of rental agreements. Today more and more businesses are basing their decision to do business with you on your credit report.
There are steps that can be taken to improve your credit score. Some initial steps are:
- Bring and keep all accounts current
- Make on time payments
- Lower revolving balances to below 10% of your utilization
If these steps are not enough, there is additional action that can be taken on your behalf.
An attorney who knows credit reporting law would be able to analyze your report and determine if any additional steps can be taken to improve your score. If you have fraudulent or inaccurate information on your report, an attorney can use the law to ensure the correcting of that information.
Sometimes credit repair is not enough to bring the relief needed to a situation, and more action regarding your debt is needed. A full service debt relief law firm such as Harold Shepley & Associates can provide you with information regarding your situation and how you should move forward. Contact them today to find out more information about credit repair and debt relief options.
January 12, 2012 Posted in Credit Tagged bad credit, credit, credit help, Harrisburg, Pennsylvania, Pittsburg Leave a comment
