Credit record is the most important document especially when we see that people are having huge debt problems. On an average each american is having $9000 of credit card debt. A person's credit report is a reflection of his money management skills. It gives a complete evaluation of your past and recent credits. Based on this credit report the creditors decide about your credit worthiness. A creditor's trust depends on how regular and efficient you had been while repaying your past credits. Establishing or reestablishing credit isn't easy. Even if you've cleared your past credit, you may be turned down when you apply for a loan or a credit card. It is important that you understand the reasons why credit grantors may deny extending credit.

There can be some probable reasons for which your credit request can be rejected:

• You may not have held your present job or lived at your present address long enough. Some creditors require that you've been at your job or address for at least three years.
• Lenders are often interested to know why you are applying for the loan. Sometimes, they do not consider your purpose of taking loan as reasonable. Often, lenders may have restrictions that do not allow them to make the kind of loan you are requesting.
• If you're relying on a cosigner, the lender may feel that the cosigner cannot take up any new liability.
• A credit grantor may believe that you already owe too much on your present accounts. In such cases, they may refuse to offer additional credit as it involves higher risk.
• Your credit report may contain incorrect information about your credit .Whenever you are refused credit, you have the right to receive a free copy of your credit report within 30 days of rejection from the credit reporting agency that the creditor used. Take advantage of this opportunity to review your credit report and determine if there are any mistakes.
• Finally, you may be turned down for credit if your credit report indicates that you have recently applied for numerous lines of credit. Lenders may question your motives or be concerned that you are at risk or overextending yourself.

If you've recently been refused credit, wait a while before applying again. Take some time to review your credit report and correct the problem that is keeping you from being credit worthy.
If you are in serious debt problem, rely on us. We will consolidate your debts and reduce your debt amount. Debt consolidation packages are the most popular ones in the US today. Through debt consolidation your credit history is also not hampered. All you have to do is to sign up and avail free counseling.