Most businesses are unprepared to deal with a situation of a client walking out of business. As a business, have you ever considered what might happen to your products if your biggest supplier stopped his business or if one of your most important clients decides to stop your services?

The ads in the newspapers TV and radio telling that they will give erase the credit history or give you a new credit identify “legally” might be fake. No legitimate credit repair companies would claim such a thing.

People who live paycheck to paycheck worry about the overdue bills and other debt collectors. They might also be unaware of developing a good budget which leads to taking the services of a credit counseling firm.

A credit score rates a person’s ability to pay back his debts. The scores range from 350-800. Higher the score, lower are his credit risk. A credit score and report is based on a scoring system with 35% weight to your payment history, 30% debt burden, 15% on the length of credit history,10% on types of credit cards used and remaining 10% on the inquiries and applications filled for other credits.

Unforeseen vehicle repairs or medical expenses are bound to happen just when your savings have hit rock bottom and when there are no more sources of loans available. Or so you thought.

Before heading towards the facts about consumer credit counseling , we must first know what consumer credit is? We always come across this work and probably some of us get confused by certain other terms.