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Access to your future begins with a credit score

Are you facing around a $100,000 or larger debt? Collection agents calling every 10 days, waking you up? You change your number, no effect. Volunteer at an organization while homeless and answer the phone to hear them unexpectedly. It feels hopeless. They are relentless. Wages garnisheed in some cases. On schedule, they follow the anti-harassment rules of collection. Is there any hope beyond bankruptcy or death (but that leaves the debt to your family…)? Do you feel you can’t afford to die? Owe your soul to the company store? Suddenly, Tennessee Ernie Ford starts singing that tune in your ears! Darn earwigs… A fitting song for the thoughts, though. Enjoy.

Work your fingers to the bone, and what do you get? Another year older and deeper in Debit… Bony fingers, too!

If you’re already in debt, not awaiting an inheritance or any lump sum in the future, perhaps bankruptcy is in your mind. You may be forced to free up investments and downsize costs before that. Houses? Can you remortgage? Could you pay down credit cards? Is the house safe in bankruptcy proceedings? What happens to my credit rating after bankruptcy? These are the thoughts of a troubled mind, that sometimes leads to a mental health diagnoses and thoughts so dark on how to pay off debit. Who else can be blamed for the debit you now carry? Do I need a lawyer?

Picture of a straw breaking a camel's back
The proverbial ‘straw that broke the camel’s back’. Is there anyone to blame for your debt other than you? Already in debit and the house needs repairs? You never win, it feels!!!

Credit cards are the beginning to a future, but they can always be the devil in some lives ending any hope of a future. Financial literacy should be taught in schools, starting basic in the elementary years. How can we learn Financial Literacy today? The first Credit Card we have unfortunately does not usually lead to the card holder’s success. Youth is so wasted on the young, but wasn’t that fun? If only we had credit alerts and bank accounts we could see 24 7 thanks to apps on our devices. Apps like Borrowell, CreditKarma, ClearScore to name a few. Your credit history and score is very important to see as you try to repair it. They do write of some non bank credit cards after about 7 years of collectors hounding the person, but Revenue Canada is relentless if you try to hide from that. It brings daily very high interest rates on that debit if you owe. Before the preceding paragraph is considered, here are some tips to try to pay down your Credit Cards that hopefully work in Canada too. Just by paying rent it can bring up your credit rating if you do not already have a card or going through after bankruptcy. I hope for Canada’s sake, today’s youth is better prepared for the responsible use of credit and the value of a dollar. It could have an effect on current unhomed rates.

By Ken

I've managed this site alone for a few years at 2 different servers. I live in Central British Columbia, Canada.

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