What Makes Up Your Credit Score?

21 Apr 2010, by Benjamin Luftman in Bankruptcy, Consumer Law, Misc

Many people don’t understand what makes up their credit score. Have you ever been denied credit because of your debt to income ratio?

In an article provided by credicards.com, FICO gives a breakdown of the 5 elements associated with your credit score. Payment history and debt to income ratio are the two most important factors of your credit score. Debt to income ratio means how much money you bring home that goes out to pay your bills. One way to improve your credit score is by making your monthly payments on a consistent and timely basis. To improve your debt to income ratio, you have to pay off your debt. Easier said than done, right? You are in luck, as we have a team of highly motivated paralegals here at LHA that can help you determine the best way to pay off your debt.

The quicker you start eliminating your debt, the quicker you can rebuild your credit score. Call Luftman, Heck & Associates today to speak with one of our paralegals about setting up a payment plan to settle your debt.

Read more: FICO Credit Score Breakdown