Could your credit score use some improvement? If so, you may want to engage the services of a certified public accountant (CPA). Why? Here are a few ways they can help. 

1. Assessing Weak Points

The best way to improve your credit score is to focus on weak areas that provide the most impact. While all changes have some effect on the overall score, some give a bigger bang for your buck. Do you know which moves will get the best responses? A public accountant works with both personal and business credit scores and so can direct you to the right choices. And if that choice is bankruptcy, they can help prepare for that too. 

2. Assisting With Budgets

If your credit score isn't as healthy as it should be, budget and lifestyle changes may help improve it. Those who carry credit card debt due to monthly budget constraints might benefit from professional help forming and using a new budget. Because a CPA is trained in money management, they can help with small or large budget changes and provide impartial feedback. 

3. Targeting Specific Credit Goals

Why, specifically, are you concerned with your credit? Do you want to buy a house? Qualify for a good refinance option? Purchase a new vehicle? Or start a business? Each of these goals has different thresholds for credit scores. Home mortgages, for instance, generally require a 620 score. But if you want nonstandard loans (such as a jumbo loan) you may need a score higher than 720. Your CPA will help you choose the right goal. 

4. Resolving History Problems

Some credit reports include errors, outdated reports, and even signs of identity theft. Often, the best way to get false black marks off your report is to work with an independent, trained professional. A CPA knows how to approach creditors in ways that facilitate the quick removal of such items. They understand the statutes of limitations and what documentation creditors must provide upon request. 

5. Building a Plan to Keep Your Score Good 

Once you have raised your credit score together, what should you do to continue it? A trained financial professional can help you with these next steps. They can discuss things like debt-to-income ratios, loan term options, loan-to-value ratios, ideal credit card use, and building a buffer to avoid unnecessary debt use in the future. 

Want to know more about how a CPA can help with your specific credit challenges? Start by meeting with an experienced accountant in your state today. Then you can get started rebuilding your credit tomorrow. 

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