A credit score is a rating used b lenders to help determine whether you qualify for a particular loan or service.
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Facts about Your Score!
Your score ranges from 300 to 850, but the majority of scores fall within the 600's and 700's.
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Introduction to Credit
Put simply, credit is the reputation for repaying debts on time.
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Manage Your Credit Score
Looking for a higher credit score? There's good reason to do so - a higher score can give you a greater array of financial options and more favorable credit offers.
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CMA has attempted to answer most of the questions that you will no doubt have as you begin your journey to healthier credit.
Please review our "Frequently Asked Questions" below. If you don't see an answer to your question(s), do not
hesitate to contact us!
7. What is a charge off? When you become very delinquent (more than 180 days) on an account the creditor will
probably charge it off. In a short period of time the creditor will determine that the account will not be paid and they will write it off for
tax purposes. Once they minimize their loss from that account, they will sell or assign that file to a collection agency to decrease the
loss even further. The collection agency will then use a wide variety of means to collect that debt.
