 Listen Now!
(1:43 Minutes)
Additional Features | |
Published on Saturday, October 11, 2008
By LA Daily News Staff Writer
The FICO score is used by banks and other credit providers to determine the likelihood that a customer will repay debt. The score - which can range from 300 to 900 points - is based on credit report information, typically from the Equifax, Experian or TransUnion credit bureaus.
The Federal Trade Commission allows you to get a free report every year from each of these reporting companies. See www.annualcreditreport.com.
A credit counselor helps consumers decide if they can solve their debt problems by revising their budget, or if they need credit repair, loan consolidation or a bankruptcy attorney.
If you decide that credit repair is appropriate for you, find a reputable company. Credit repair is a for-profit industry and vulnerable to fraud. The Federal Trade Commission (www.ftc.gov) has detailed information about credit repair and what to ask a prospective credit counselor
Read Full Article...
|
RSS
