Bad Credit Report Repair
Even though the live stream wasn’t working very well at the time we recorded this, I’m pretty pleased with how this video / conference call turned out. Keep in mind, possibly before you watch (or listen) to our segment, that Jason has fully explained his situation in the How to Repair Your Credit post. There’s no way you could crawl out of hundreds of thousands of dollars of debt with nothing more than minimum wage. I’ve (thankfully) never been in such a dire situation before. The worst debt I’ve ever been in involved my student loans.
None of us here are credit experts - and there are plenty of people in this world who take advantage of this fact. It’s all the more reason we must start sharing these money-saving (and in some cases, life saving) tips with one another. There are so many little things you can do to help your credit rating, whether it’s in good or bad standing.
Need a new domain name? See why GoDaddy is the #1 domain registrar worldwide. Now with your domain registration, you'll get hosting, a free blog, complete email system, and much more! Plus, as a listener of The Chris Pirillo Show, enter code CHRIS3 and get your .COM domain name for just $6.95 a year. Get your piece of the internet at GoDaddy!
2 Comments
Bill
May 29th, 2007
at 2:17pm
There are two major problems I see with the way people and companies today use of credit.
First, using credit score to base a person’s financial ability is DUMB. More and more companies are doing it for mortgages, insurance, to rent an apartment and even job applications! There are some people who have a credit score of zero because they do not borrow money. This means they would be denied an apartment lease or have higher insurance rates.
Second, there is a huge push for people to feel that the amount of credit extended to them is an indication of net worth. They feel the score from the Fair Issac Corporation gives them a measure of worth that is not there. You have probably seen the commercials where the guy says, “I’m thinking of a number…”
The same way the entertainment industry pushes *** to young adults in order to get them to buy more of their products, credit is pushed to middle America as a way to “achieving the life you deserve.” There is a bank commercial where the people daydream in the storefront glass window about what they could be doing. I too had gotten swept up in the hype. I did not understand the mind game that was being played on me and just how much it was affecting me financially.
It was only when I saw a financial debt free live event that my entire outlook on money changed. I began to understand the workings behind the strategies, promotions and offers that were all around me. I was able to look my bank teller in the eye and kindly turn down their offer to loan the money I just deposited, at 3% interest, back to me at an introductory rate of 12% interest for the first three months. Now, anytime I hear the words “loan”, “credit”, “finance”, “interest” or “FICO” I pay attention. I haven’t done it yet but I intend to count how many “loan” commercials I see on TV during any given night.
Another thing I woke up to was that, in my experience, many people in the finance community treat information regarding the pitfalls of credit as their own personal secret. I have encountered more than three times a situation where I briefly mention what I have learned and the response is something like, “That is very sound financial advise.” One of these instances was from the very same bank teller mentioned above. My frustration is that more people are not talking about this.
Keep up the good work, Chris.
Anonymous
June 5th, 2007
at 7:04am
Related Content:The Real Home Loan GeniusNew Century Mortgage Goes BankruptFree Credit Report?Credit Score TipsIs Debt Consolidation Dumb?Free Skype CreditGlossary of Real Estate TermsCredit Report TipsBad Credit Report RepairHelp with Bad Credit Loans