Your FICO Score

Nearly everyone has heard of the FICO score, that magic number which rates your credit-worthiness. FICO stands for Fair Isaac Corporation, the company that created the standard that is used throughout the credit and lending industry to determine your risk when being extended credit. Your FICO score is determined by the data in your credit report, both good and bad, which is grouped into five categories. These categories are your payment history, amounts owed, the length of your credit history, new credit, and types of credit used. The relative importance of these categories will vary from individual to individual, based on each person's unique set of circumstances.

A higher FICO score means that creditors will view you as a better risk when extended credit. This will translate into easier credit approvals, better rates and terms. Those with low scores may receive credit with higher interest rates or more restrictive terms or may be denied credit altogether. 850 is the highest FICO score you can get which is nearly impossible. In fact, scores above 800 are unusual. A score of 750 or higher is considered to be excellent. In general, FICO scores range between 500 and 799 on average across the population. The lowest possible score is 300. Those with low scores can improve them with diligent and timely payments consistently applied over a long haul.

Debt Relief and Bankruptcy Legal Representation

If you have been bogged down by overwhelming debt, creditor harassment, and a sinking FICO score, getting competent legal advice and guidance can result in debt relief and a new control of your finances. At the Price Law Group, you will find an attorney who is dedicated to all aspects of debt relief, from personal bankruptcy filings to debt settlement plans, foreclosure prevention, credit repair, loan modification, and more. This is a firm that is devoted 100 percent to debt relief legal solutions, serving clients across the nation. They have offices in California, Nevada, Arizona, Kansas, Colorado, Missouri, Louisiana, New York, and New Jersey.

Learn what can be done to help you get a new financial start; contact the firm to arrange for a free consultation about your debt problem. Get the valuable information you need concerning legal solutions which may apply to you.