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.