Today we have grown to a nation in search of instant gratification, buy now pay later syndrome. So, without a good credit rating it will be very difficult to get the things you want at the time you want them. Consumer credit has been accepted as a substitute for cash, so that good credit is the key to the future.
As a consumer it is to your benefit to fully understand how credit works and every aspect of what is involved when you apply for any type of credit, including the major credit reporting agencies that hold your credit report file. If you understand what banks and other creditors are looking for to extend credit to you then you can monitor your financial future and accept only the best choice.
When you apply for credit, lenders want to know about you, your employment history, your income, your assets, and most importantly they want to know about your credit history. A creditor will get a lot of information directly from you by a credit application, then your credit bureau report to verify this information and confirm references and credit scores.
Then upon evaluation of your credit application combined with your credit report, the lender will determine your credit risk and make a final decision on whether or not to grant you credit and at what rate of interest they will charge you. Let's take a deeper insight into the factors that can either be an asset or liability at the time of the application for credit - your credit report.
What is a credit report? Your credit report is your financial resume, a summary of your financial reliability, containing both personal and credit information. Your credit report is obtained from credit bureaus, also credit providers, employers, insurers, landlords and other enterprises that have a legitimate need for such information. The Federal Fair Credit Reporting Act (FCRA) is recommended read.
Rick Sax, Inc.
The Credit Repair Law Firm, Chartered
Joining the family firm and practicing law since 1994 with his father, Kevin L. Hagen, handles general litigation matters, including , contract, collection, landlord/tenant, and consumer-related cases. In addition, he provides legal assistance in connection with bankruptcy, probate, guardianship and estate planning issues. He also assists with the commercial and residential real estate and other transactional work relating to corporate and business relations.
After graduating with honors from the University of Florida, Mr. Hagen attended law school at Nova Southeastern University. After admitted to the Florida Bar, Mr. Hagen served on several bar committees including Law School Liaison and Consumer Protection Law.
Among his legal certifications, Mr. Hagen is admitted to practice in the United States Supreme Court, United States District Court for the Southern and Middle Districts of Florida and the United States Court of Appeals for the Eleventh Circuit.
For some time, Kevin has also been a member of the American Bar Association, National Consumer Law Center, the Broward County Bar Association and the National Association of Consumer Advocates.
Kevin’s past and present community service includes volunteer services for the Department of Health and Rehabilitative Services, board membership of the American Cancer Society and extensive pro bono services through Miami-Dade County’s Put Something Back program.
Other business certifications include licensure with the National Association of Securities Dealers as a registered representative and uniform securities agent; Florida Department of Insurance; Florida Real Estate Commission and the Florida Supreme Court as a certified circuit mediator and qualified arbitrator.
To contact Kevin L. Hagen directly via e-mail, send your communication to [email protected]
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