According to the Fair Credit Reporting Act, credit reporting agencies can only disclose your credit information to others under certain circumstances.  Those include companies considering granting you credit, renting you an apartment, offering you employment, providing you insurance or granting government-related benefits just to name a few.  Important, sometimes life-changing, decisions are made everyday by companies using your credit history as a tool and factor in their determination.  Do you know what your credit report is saying about you?

Vivix Credit Solutions work with individuals everyday to help them access their credit report, assess their credit profile, provide them with information and tools needed to confront any financial challenges, and help them make positive steps towards a better financial future.  Every person’s situation is different, from the concerned consumer to the absolutely desperate one, and requires a different plan of attack.  With proper advice and guidance, credit and debt management are within reach even if the circumstances seem dire.

Your credit report is an outline of your financial life and financial responsibility in black and white, showing all the good, bad, and ugly financial decisions you’ve made.  Credit reporting agencies use this outline to determine a credit score in your honor.  A good score can mean lower interest rates, better insurance premiums, and even job opportunities.  Lenders and creditors will actually compete for your business because you are a good risk.  On the other end of the spectrum, a bad credit score can have lenders, creditors, and others leaving you out in the cold because they make assumptions about you based on this rating.  That’s why it is so important to maintain a stable financial profile and strive for the highest credit score possible.  Keep in mind that reporting agencies are not infallible and sometimes errors are made.  Files can be mixed up, erroneous reporting occurs, and obsolete entries that can and should be removed remain long after it’s required.  Thankfully, The Fair Credit Reporting Act and the Fair Debt Collections Practices Act guarantee certain rights to every consumer.  One of those rights is a statue of limitations on derogatory notations on your credit report.  Each negative entry makes a difference, so an accurate report is critical to your financial profile.  Other entries that impact your report are missed payments, late payments, excessive application for credit, and a bankruptcy judgment.

The economic climate of late has caused many people to fall on hard times, leaving many of them straddled with debt and feeling stressed.  Credit coaching is a tool any consumer facing financial hardship can utilize that can help them reduce their debt, better manage their credit and spending, rebuild their credit, and improve their credit score.  Whether it takes some minor tweaks to your budgeting and spending, or a complete overhaul of your financial life, it is worth it.  Your financial independence is at stake.  The professionals at Vivix Credit Solutions have helped countless consumers meet their financial goals and redeem their good name.