Do You Know Your Credit Score?

Photo courtesy of thinkpanama

Most people have been advised to check their credit report regularly, having been reminded by friends, family members or possibly even financial advisors. However, it seems that many Americans just don’t understand how vitally important it is to have a good credit score and the fact that their entire financial world revolves around that report. In fact, in order to move forward in many areas of life, a high credit score is, quite simply, a must-have.

Staying on top of your credit report each year will alert you to any changes that are occurring in your credit score, including the most insidious form of credit fraud known as identity theft. This happens when a thief opens one or more accounts using your name, leaving you with all of the responsibilities when the collectors want to settle up. This type of identity theft can be overlooked if you are not reviewing your annual credit report.

It is important for everyone to be aware of their credit standing because it can have an extraordinary effect on many areas of financial stability including: buying a home, getting a car loan, renting an apartment, and making many other large purchases. Insurance agents and prospective employers may also use your credit score to make decisions about what type of person you are. A higher credit rating makes you more attractive to lenders. You can keep your borrowing options open by monitoring your credit report on a regular basis.

Veitengruber Law knows how to fix bad credit whether your low credit score was caused by poor decisions in the past or credit report errors. We know that poor financial decisions and unreported errors are lowering your credit score, which means that you are paying unfair interest rates or even being denied credit. Let us put our knowledge to work for you! If you need to buy a new home, settle old accounts that are unpaid or overdue, are recovering from a divorce, bankruptcy or foreclosure, call Veitengruber Law today for a free consultation about fixing your credit rating the right way.

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