Credit card companies and other financial institutions use credit reports as a main reference when deciding to issue you a credit card or even loan you money. Even insurance companies, landlords and employers also check credit reports at time. If your credit report shows late payments, collections or charge-offs, this could have a negative affect on your chances of obtaining additional credit.

Here are some tips to protecting your credit:

• Pay your bills on time
• If having trouble paying bills, then you should try and contact your creditors or a debt consolidation company to assist you with paying off your bills
• Check your credit report about every 6 months from all 3 of the bureaus to make sure that payments balances and accounts are being accurately posted on your report. If you something that is wrong on the report you should report it to all 3 bureau.

Debt Consolidation Bullets