Would it not be great if you ever could repair your credit? Some have asked themselves that question, answered yes, and took action to do so. For most people it is just a passing, fleeting thought that never gets anywhere and is soon forgotten. Most people are not aware of precisely where to start, so they really never do. The aspect of maybe needing to do a little work puts others off. Others are too lazy to try, or lack motivation.
Now “Whoa Up” here one minute, my friend! Are those reasons actually good enough to base an important decision on? What favorable reasons were taken into account? Did both the Pro as well as the Con side get taken into account? Did the negatives rule simply because positives weren’t taken into consideration?
It’s possible that really needs a little bit more consideration… I’d guess that we ought to think of say, 3 reasons why maybe you should repair your credit and find out how things might look from that perspective.
The first thing is your interest rates are currently based on your credit score. Right, I fully understand your argument that my interest rates are based on my credit score but so what. Consider this, for every extra interest point you are paying because of your low credit score, you are paying an extra $10 per month for every $1000 you have borrowed, which might not sound like a lot, but over time, it adds up to be a very large number. To top it all off, it is important to consider that most of our debt takes a very long time to pay off.
Second, if your interest rates are based on your credit score, then every time you try to get a new credit card, try to buy a car or new home, you are being judged based on your current credit. That is true because financial institutions look at your past history to see if you have done what you said you would do and most time people with poor credit have missed a few payments on different loans or credit cards they have had. One of the results of this is that with a lower credit score, you are going to be driving lower end cars or paying a higher monthly payment for the car so the way to be able to drive a nicer vehicle for the same amount of money is to repair your credit.
Third, it feels so much better when you don’t have bills every month that are out of control. When you repair your credit, you basically start a process of wiping out all your debt so at the beginning of the month, you have fewer bills and less stress, which is a great feeling! And the key to repairing your credit is to start one decision at a time and have a written budget of where the money goes. Each month, as you continue to pay off more debt, you are going to feel a ton better about yourself and your life. After a period of time, it will become a habit to spend your money wisely and have more of it at the end of each month!
So, after reviewing the 3 reasons above, I hope you get started today to repair your credit one small decision at a time!