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Your credit report

ricardog started this conversation
It has been awhile since I’ve written something but I know I’ve been thinking of you and wondering how your year is going so far. Are you saving money, paying bills down and working hard to get the money that you need? Are you selling things you no longer need or are you just stop buying until your money gets fixed? Whatever you are doing, I hope you are doing it for yourself and not others.

Credit report, have you ever thought about your credit report. Why have one? Or what is it about? I have, I’ve been spending the first part of this year looking at my money and I have started questioning what is a credit report is.

So I did what everyone is normally suppose to do, get a report and look and see what I have. All the normal things you are supposed to do on a yearly basis. But what is a credit report? So I asked the experts, what is a credit report?

This is what I found out. A credit report is a report that shows if you have a history of good or bad credit. This is a way that it can be determined if you are credit worthy. But then I asked the experts, you are telling me to get out of debt that means I will not have any credit, then why do I need a credit report? A credit report, reports all credit but if I don’t have any credit and I’m out of debt. Then why have one? They really could not answer the question.

So I went to a financial workshop and seminar that was being hosted by a big financial company here locally. I went through the class and then I asked the trainer the same question. He could not come up with a good answer.

So we are suppose to have a good credit report and have credit on the report that means that I have to stay in debt, right?

That brings the question to my mind, why have a credit report? So I ask my banker, a financial lawyer and a CPA. All of them said to me, that if you are debt free, you do not need one. But 90% of the USA society depends on it because they depend on credit to survive.

So how hard are you working to get out of debt? How hard are you one of those people who do not have debt? Can you really survive on cash and nothing else?

I know I’m probably have woke up some emotions by talking about this but I found that it’s important to you and me that we need to free ourselves from debt and bring our life to a cash only basis. Of course, it easier said then done. But I guess what I’m really trying to do here to help you think before you dive into a pool a debt again. Don’t, don’t put yourself in the hold of debt again and stop it now. You are worth being a cash person then a debt person. I know you can do it.
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Starshine
 in response to ricardog...   I think we should be taught in school about it. How to manage money even play money . I love Suze Orman's site and when her plus other money experts are on. There are things like saving a penny and double it the next day telling you how much you would have if you could do that. My mom was frugal with money as we didn't have much of it. And when I started working and made good money I bought her a sweater she would not have spent $30 dollars on for Mother's Day in the 80's.
Take care and good luck with more on this topic.
Starshine
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ricardog
 in response to Starshine...   It is touchy because we don't have a good relationship with it... That is money... But you are right it has to be discussed, not treated like a disease. I going to have to work on this subject. Let me see what I can come up with..
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Starshine
 in response to ricardog...   Money is always a touchy topic for people but it has to be discussed one way or another.
Not fruit juicing yet.
Starshine
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ricardog
 in response to Starshine...   Hey sometimes you have to do that. What I think I need to do is continuing writing on this subject. I think I have hit a nerve on some people about this and maybe help those figure out how to get out from under that credit report umbrella. hmmm. Thanks for giving food for thought....

Happy fruit juice drinking......
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Starshine
 in response to ricardog...   Thank you for your response and I am laughing not at you but my credit card debt I have. I was doing good but working on getting back to where I was. I think if I lived on fruit juice I might work my way out of the financial hole but that doesn't seem to work (living on fruit juice).
I am working on being perfect again.
Starshine
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ricardog
 in response to Starshine...   True, but think of it this way. If you have no credit and you needed it to buy a car. Then the people that you were working with are WRONG.... They wanted to keep you in debt... They wanted to make sure you had something in a credit area to keep them happy. Wait a minute, you are the one who is suppose to be happy not them....

No credit report or no credit means you are doing great!! You are perfect...
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Starshine
Hello
I wish society and credit report was based on paying by cash only. As I stated the before and love your posts, that I had money to buy my used car but when I went to get a new car and had paid my credit card off each month and paid for things in cash, I had no credit history because I didn't owe anything. Someway, I wish that would change. I love to be debt free and working on selling things not used or giving them to the vets. I liked it before credit cards came along.
Keep up the good work
Starshine
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positive thoughts
 in response to ricardog...   Thankyou my friend. One day at a time.
Have a great day!
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ricardog
 in response to positive thoughts...   Thank you and That is a GREAT JOB! That you are out of debt!! You need to celebrate that... I hope you do... Yes, Mortgage is debt and yes, you can get rid of that... Just work on it hard. I hope you are learning to invest your money and get those accounts fat with money!!! You can do it!!!
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positive thoughts
Hello, Good post. Debt elimination good. For me personally I have no credit card debt. It is now paid off. Therefore with the savings of all the interest and balance of that debt which once was I can now take it and put it towards my mortgage and get it paid off quicker too. For I see a mortgage payment as debt as well.
Have a great day.
Talk to positive thoughts