Staying Out of Credit Trouble

Learn how to reduce your debt burden so you can relax.

Financial Tips

  • If You Don't Owe a Debt Don't Ignore It

    To maintain your rights under the Fair Debt Collections Practices Act, always respond in writing to any debt that you dispute.

  • The Lender Matters

    You might be surprised, but having a finance company, payday lender, or car title lender listed as one of your creditors could affect your credit score.

  • Watch Your Utilization Ratio

    After your payment history, your utilization ratio is the next most important factor behind your credit score.

Return to Top

The information provided is not intended to be legal, tax, or financial advice or recommendations for any specific individual, business, or circumstance. TowneBank cannot guarantee that it is accurate, up to date, or appropriate for your situation. Financial calculators are provided for illustrative purposes only. You are encouraged to consult with a qualified attorney or financial advisor to understand how the law applies to your particular circumstances or for financial information specific to your personal or business situation.