If your credit score drops with every passing month because of late or missed payments, talk to a debt relief attorney. The sooner you take back control of your finances by discharging applicable balances, the sooner your score will start going up. Once you have decent credit again, you will reap the following benefits. 

3 Benefits of Having Good Credit 

1. Lower Interest Rates

When financing major purchases, like houses and cars, the higher your score, the lower your interest rate will be. Lenders deem those with good credit to be reliable borrowers, so they’re more inclined to offer them competitive rates. Those with bad credit because they need debt relief, on the other hand, are considered risky borrowers and are usually quoted much higher interest rates—if they’re approved for financing at all. 

2. Exceptional Credit Cards

The best credit cards—those with many rewards and steep discounts—are available to consumers with the best credit. If you want to travel in style or get cash back on every purchase, improving your credit will help. Should you intend to declare bankruptcy to make that happen, apply for a secured card once your case has been resolved. After using it responsibly for a year or two, you should be able to qualify for a traditional card that offers perks. 

3. Better Housing 

Whether you plan on renting or owning, improving your credit can help you secure better housing. For renters, a higher score lets potential landlords know they’re reliable. For buyers, a higher score means a lower interest rate, so they can afford to take out a bigger mortgage.

If you’re facing an overwhelming amount of debt that’s been hurting your credit, turn to C. Roland Krueger Attorney and Counselor at Law, to explore your options. Practicing out of Lexington, NC, this debt relief lawyer has been in the legal field for nearly 40 years. When you turn to attorney Krueger for help, you can count on receiving compassionate counsel without judgment for the situation you’re in. To request a consultation to discuss possible approaches to debt relief, reach out online or call (336) 248-8464.