Improve Your Credit

Written by Abby Luttrell
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Credit is used by millions of consumers to finance a home, a car, a small business, or an education. The Equal Credit Opportunity Act (ECOA) ensures that all consumers can have an equal chance to get the credit that they need. You have an equal chance; you still may be denied based on your credit history, level of debt and creditworthiness.

Equal Credit Opportunity

The law protects you from any bias as a result of your age, sex, race, marital status or national origin. If you have been denied credit, you have a right to review your credit report and correct any mistakes. This is guaranteed you by the Fair Credit Reporting Act (FCRA).

It's important that the information in your report is complete and accurate. You can contact the main credit reporting agencies, Equifax, Experian and TransUnion, to alert them to any errors. If you need to improve your credit, a credit counseling service will show you the necessary steps to take.

If you have a poor credit rating, debt consolidation companies can show you how to improve your credit rating. With the assistance of non-profit credit counseling agencies, they will lower your interest rates and get you an affordable monthly payment. They will advise you on recommended credit repair tips to improve your credit.

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