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The Next Person With Credit Problems Got Their First Credit
Card Today!
One of the focus areas of my information is the absolute
necessity of changing the way a person thinks about money and
debt while in the process of repairing their credit. I have seen
cases where a couple will work really hard for months, and
finally get their credit report to the place they can borrow
again and go out and buy something on credit just because they
can. And I relate so strongly, because I was there at one
time.
If in fact there are 40 - 70 million people with credit
problems severe enough to prevent them from getting credit, that
tells me there is a tremendous paradigm of debt in the United
States. Think of it like this: 1 out of every 12 people you meet
or know has experienced (or is experiencing) severe financial
problems that they are very likely still dealing with.
As near as I can tell, this 40 - 70 million group of people
stays fairly constant over time, sometimes increasing, sometimes
decreasing, but it tells us a story. And as I was thinking about
it, I realized some young person with this debt mentality got
their first credit card today. And thinking back on how that
felt, the potential of buying anything you want (up to $500) by
just handing over your card is a real rush. But the fact remains:
if the debt mentality isn't addressed, that young person has just
became a part of that 40 - 70 million person pool 10 years from
now. Kinda sobering, isn't it?
Rich Toops started http://www.mycleancreditreport.com
and http://www.do-it-yourself-credit-repair.net
to make the information available to people who wanted to get out
of the credit/debt cycle. What became obvious is credit report
repair only addresses the visible part of a deeper issue which is
the way people THINK and FEEL about money and spending. If the
thinking dosen't change, the next credit collapse and repair
cycle is only a matter of time.
MORE RESOURCES:
Hanmi Financial appoints chief credit officerBizjournals.com, NC - 3 hours agoHanmi Financial Corp. has appointed John Park executive vice president and chief credit officer, the company said Wednesday. Park was most recently senior ... |
Credit - Google News
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