Consumer Portfolio Services

Unless you never intend on borrowing money from a financial institution ever in your life, it is important to keep a track of your credit score. Many people turn to lending institutions for financing various things. Some of the most popular reasons for seeking financing include college tuition, houses and working capital for business. The need to borrow money can arise at any time in life, but is a good idea to star building your creditworthiness early on. Some people make the mistake of avoiding credit facilities, only to have this approach work against them when they are in sore need of financing because they have no credit history to back up their application.

On the other hand, there are people who do borrow and fail to make timely payments therefore ruining their credit scores. Those who have low incomes  also find it difficult to access credit as they are deemed high risk clients who are very likely to default or delay in making payments. Thanks to Consumer Portfolio Services, such people now have an alternative option that betters their chances of accessing credit. This twenty two year old finance company has made a name for itself in offering car financing services to subprime borrowers.

It has a presence in over forty states and works with thousands of dealerships in trying to help such borrowers purchase new vehicles. Based in Irvine, California, the company opted to focus on this niche market neglected by other traditional lending institutions. It has helped many people buy new vehicles that would ordinarily be out of reach because of their implied lack of creditworthiness. They can now travel in comfort and in some cases boost the operations of their business. For many, there is also the added benefit that when they do successfully complete payment of their financing, their credit scores will improve.