Do You Worship At The Alter Of Credit?

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Do You Worship At The Alter Of Credit?

Did you know that paying your balances in full every month, will give you a lower credit score than maintaining a 25% debt balance of your total available credit? In other words, if you have total available credit of 10,000 dollars, and you maintain a debt balance of 2,500 dollars by just making minimum payments, your credit score will be higher in the later case.

As I have written about so often, the whole system is designed to keep you thinking as a debt slave. It makes your thinking go like this: High credit score equals more things I can purchase on credit, using the banks money and just make nice low monthly payments. Of course, most people have been brainwashed into just ignoring the fact that “the borrower becomes a slave to the lender”and “the rich rule over the poor” proverbs 22:7.

The single most important thing you can do for yourself is to get these facts clearly implanted into your mind so you are thinking with clarity and can actually stop being poor and be empowered to live a life free from want, because you will be no ones slave.

Quite often credit counselors are asked by consumers considering some type of debt management or debt settlement program, “How will this program effect my credit”. Amazingly, most consumers in a debt crises have already had their credit score negatively effected. Please do not misunderstand, it is a fair question, but the real truth is, that the first thing to be addressed needs to be the debt, since this is in reality what caused the problem, and ironically, it was their good credit that pushed the problem along!

Here is something I’ll bet you never thought of before. Whether or not you are enrolled in a Debt Management Program is not counted one way or the other by the FICO scoring model, however, that’s only half the story, the other half is that when you enroll you have to close your credit cards, thereby, closing off your credit card lines and that does cause your credit score to drop. Now, just think about it, you are getting out of debt, and yet your credit score drops! Why?, Because you are no longer a candidate for debt slavery. Since you now have chosen to break the chains that bound you, the banks view you as less worthy. You have to admit this is pretty fascinating stuff.

Today, there seems to be an awakening happening. More and more consumers are waking up and realizing these truths, and have decided to do what ever it takes to become truly self empowered again. Will you be one of them? If you would like to speak with a counselor about what you can do to get out of debt, without any hard sell approach, or, if you are in the midst of a creditor lawsuit, then please visit: American Debt Enders. There, you will find Live Chat help, budgeting help, and if you need a debt management program or a debt settlement program we can put you into one.

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Written By:
Steven Ciantro
Member National Association of Credit Counselors American Debt Enders Help@americandebtenders.com 877-766-2465

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