Knowing Your Credit Score Is Invaluable
Your credit score is the number potential creditors use to determine how reliable you will be as a borrower
. If your credit score is good, the creditor will assume you are a good risk to take. You will be approved for the maximum loan amounts, and you will be offered the lowest possible interest rates. However, if you have a low credit score, you wont be able to borrow as much money, you will be quoted higher interest rates, and you may even be denied credit altogether. For this reason, knowing your credit score is very important.
Knowing your credit score allows you to monitor your credit activity and improve your rating when possible. For example, if you find that your credit score is lower than you would like, you can view your credit report to determine the cause of your low rating. You can then take action to improve the score over time. In some cases, you may even find that false information on your credit report is causing your score to be lower than it should be. In such cases, you can petition the credit bureaus to remove the false information and make the necessary changes to your score.
If you monitor your credit score regularly, you will know immediately when your financial activity lowers your rating. Credit scores may be lowered for late payments, new debts, insufficient credit history, or inquiries into your credit history. When you learn that your credit score has been lowered for one of these reasons, you can take steps to ensure that it does not happen again. Furthermore, monitoring your credit score can often help you identify credit fraud and identity theft. If you notice a sudden change in your score and you find strange information on your credit report, you can identify the responsible party, stop him in his tracks, and repair your credit report as soon as possible.
If you are interested in improving your credit score or learning more about what affects it, visit CreditNowUSA.com. CreditNowUSA offers both debt relief and credit repair services, as well as identity theft protection.
According to the Fair Debt Collection Practices Act, debt collectors are allowed to make an effort to collect a debt that you owe. They may call you, send you letters, or even file a lawsuit against you. However, there are certain methods they cannot use to get their money.
Debt collectors cannot contact you at inconvenient times, such as after 9 oclock in the evening or before 8 oclock in the morning. They must also refrain from contacting you at work unless both you and your employer have given your express permission. If you have an attorney representing you with regard to your debt, debt collectors must contact your attorney instead of you.
Debt collectors cannot contact any third party more than once to inquire about your whereabouts. Though they can ask third parties to supply your phone number or place of employment, they cannot give the individual any information about your debt. Debt collectors cannot harass or abuse you with repeated phone calls, and they cannot threaten you with acts of violence. In addition, the law does not permit debt collectors to make false accusations or misleading statements. Furthermore, they are not permitted to attempt to collect more than what you actually owe.
The law does not allow debt collectors to make empty or false threats. They cannot intimidate you in order to collect a debt. For example, a debt collector cant threaten to file a lawsuit against you if it cannot legally do so or does not plan to follow through. Debt collectors cannot threaten to have you arrested if you fail to pay. Finally, debt collectors cannot contact you using a postcard. If they contact you using mail, all correspondences must be enclosed in an envelope.
For more information, go to Credit Score at http://www.creditnowusa.com/Credit-Score
by: Money Lender
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