World industry produces a variety of consumers’ goods purchased by all categories of citizens. Different goods and services available in a free market considerably vary in price and quality. As a matter of fact, comparatively expensive products are meant for individuals with higher income. Consumer credit services are considered to be a popular choice. They have gained a reputation of being a reliable option that makes chosen goods affordable for a larger number of people. Banks or any other commercial organizations (such as credit unions) which retain a license to give credit services have developed crediting programs offering their customers flexible account terms. Credit is an opportunity to use goods or services on the conditions of regular repayment of their full value during previously agreed period of time.

Credit card is one of the most wide-spread options to take a consumer credit. Banks’ clients may request a credit card in order to purchase chosen goods and services. Credit agreement involves detailed descriptions of the credit terms, sets interest rates and definite timeframes of a complete payoff. If a client fails to repay a debt in time, it results in poor credit history preventing him/her to obtain other credits. Banks’ regular customers may be put on special debt management programs in case of difficulties of repayment.

An establishment dealing with malign repayment-dodgers is called credit service company. This type of companies has the right to collect debts (according to the norms of legislation), fight credit services scam and fulfill a number of other finance-oriented functions.