Debt and Credit

Debt-Overview-1i_overviewWithout question, the most asked about, bantered and misunderstood topic of the day is credit. And why is that? Because so much of our lives are dependent on the right FICO or Beacon Score. Think about it. That three digit number pretty much determines what car we drive, where we work and live, where our children grow up. It’s everywhere around us and literally affects every fiber of our being (well maybe not every but almost).

So…this area features some proven techniques geared to take you out of “debtor’s prison” or simply raise the bar high enough to qualify for that new home. L.O.C. (line of credit) or “sweet ride.”

Credit – Your Asset

Debt-Overview-2Whether you have poor credit or no credit at all, you can improve your current credit situation by applying one or more of these strategies. Regardless of your current consumer credit rating, you can do something that will help improve your individual situation.

Your debt and credit history can be your greatest asset and ally, or it can be your worst enemy and burden financially. A good credit file with a positive debt history will allow you to have the means to pursue your individual dreams and goals that you have set for yourself.

Tough economic times create credit challenges. If your personal income, bonuses or small business sales are down because people are not spending, it is easy to slip into the late payment nightmare. This scenario affects hundreds of thousands of Americans every year. Once you are behind in mortgage or credit card payments, the late charges on any loan or account can be staggering.

In the Strategies area on the next page, we’ll discuss these challenges and how to improve your credit standings

 

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Please be sure to read our disclaimer prior to acting on any information you find on this website  There is never any substitute for personalized professional advice.