Don’t be intimidated by your credit report. At one point in your life, you learned something for the first time that you have mastered by now. It was awkward and complicated but day by day, you learned more and more both through education and practical experience.
Even though we all have had the ability since around 2003 to correct errors on our credit report and self educate, credit scores weren’t really that important then since it was the highest year for new mortgage applications and a variety of loan programs being offered that required a pulse to be approved. By 2008/2009, the housing market was collapsing and since then we have been focused on surviving, stability and slowly rebuilding.
Seven years later and it is a whole new world with everyone running your credit and the amount of money you pay for loans or to be insured now relies heavily on that score. The good news is the majority of derogatory debt stays on your credit report for 7 years IF you are paying attention and know if errors are reporting. That can give you a head start as long as you have re-established some credit lines AND are properly using them.
Now is the best time to start educating yourself on credit so that you save thousands over your lifetime and have some wisdom to pass on to your children and future generations about building a financial legacy. They aren’t learning it in school. It is up to YOU. It isn’t about where you went to school or what family you were born into. Your credit score has nothing to do with your job title or income. Learn the rules of the game and how to understand what you are looking at. The most wonderful thing about self education is that it is yours to keep. As BB King says….No one can take that away from you!
Want to learn more? Join us on October 1st for the Color My Credit Expo
Tickets are online now – Click Here