Your Credit Report: The Starting Point.

18 February 2021

Here at the Calig Law Firm, we not only help many of our clients get out of debt, but we like to help them establish a new and improved credit score. Over the next few weeks, we will be going over some important things to look out for and introduce some things to consider when trying to build a good credit score.

It’s always a good idea to obtain a copy of your credit report before applying for a loan or cleaning up a credit score. This allows you to correct any errors on your credit profile in advance, establish credit if necessary, or start repairing your credit if you’ve had problems in the past. The Calig Law Firm can help you look through these documents and determine what options are available. Lenders look very carefully at your credit as an indicator of your “character,” or your willingness to repay your loan. Having poor credit, little or no established credit or unresolved disputes with creditors can affect your purchasing power and your ability to get a loan. To avoid any unpleasant surprises down the road, you can request a copy of your credit report for free.

Some things to look out for on your credit report would include the following:


  • If you have recently applied for any type of credit (a car loan, credit card, etc.) chances are that this will show on your credit report as an “inquiry” into your credit. This means that you have authorized a bank, a department store, etc. to check your credit.

Public Records

  • Any judgments, liens, bankruptcies, or foreclosures you’ve had will show up in the Public Records section of your credit.

Open Accounts

  • All accounts you have that are currently open will be shown. Included in the report are: the name of the creditor; your account number; the original amount of the loan; the date the account was opened; the current balance; a rating on how you’ve paid; the terms of the loan; and how the account was secured.

Closed Accounts

  • Past accounts that have been closed will also be indicated on the credit report.

Derogatory Accounts

  • Any accounts that are 30, 60, 90, or 120 days late will appear in this section as will any repossessions, charge-offs, or collection, etc.

Once you have had a chance to review this information, you will have a better idea of what is impacting your credit score. At that point, you can start to work towards rebuilding or continuing to build your credit score. Contact us today and we can work towards improving your credit immediately.


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