With more people in need of access to capital today, the need for credit is more important than ever before. Whether credit to cover short term costs or capital for investment, consumers need to mind their credit score and find ways to make sure that they can cover for their capital needs at any given time. However, many people find that their credit scores are less than stellar, sometimes even unaware that their scores have even been affected. Thanks to modern technology, it’s easier than ever to fix blemishes in one’s credit.
Using Free Credit Reports
Because of the wide proliferation of companies offering pay-per-view credit reports, credit-reporting agencies have taken an additional step past the somewhat tedious process of requesting a credit report by mail.According to the Consumer Financial Protection Bureau , all three major credit agencies now list ways for consumers to get their credit report every year online. These reports can tell consumers about negative marks and blemishes on their credit reports. Reaching out to those who have made notes on credit reports can improve consumers’ credit scores, as can paying off debts that have damaged their creditworthiness. It is important to note that the three major credit-reporting agencies often have the same information, but that this isn’t always true, so it’s best to get all three credit reports.
Watching Your Credit Using Social Media
While it would seem that the three major credit reporting agencies are the sole place to worry about one’s credit now, this is far from the case, and this can be advantageous for folks who network with people who are trustworthy credit risks. Katie Lobsco at CNN Money reports that new credit companies that only give partial consideration to the combined credit score of the three major agencies are becoming increasingly well-known and popular daily. This, of course, works both ways: lending companies like Lenddo will check to see if you are Facebook friends with someone who was late paying them back. They’ll downgrade applicants further if they interact regularly with credit risks. These “social lending companies” are a boon to people who’ve had odd problems with credit, but aren’t trustworthy on a regular basis. On the other hand, people who are larger credit risks generally become even more obvious on social media.
Getting Professional Legal Advice Online
In the end, some credit problems can’t be solved with a simple note or fixing a delinquent bill payment. Oftentimes those who have put a black mark on a consumer’s credit score are disinclined to remove it, and because of this consumers find themselves unsure of what to do next. Oftentimes, legal advice is necessary to ensure that companies aren’t flaunting the law in penalizing the credit of consumers in good faith. A lot of legal advice is available online to improve one’s credit, and more importantly, legal assistance companies like Park View Legal have taken to social media to find consumers trying to improve their credit but running into roadblocks to their credit restoration. By finding help when a company won’t readily remove problems with their credit score, legal assistance can often step in and help consumers serious about fixing credit issues where they couldn’t alone.