Fixing your credit takes time, commitment and some guidance along the way. I mean, if no one taught us in school about how to use credit and how it can affect our future, then how are we supposed to know how to fix it?
Let’s go back a little bit to when I started my first year in college, I was given an opportunity to open up a credit card. So I did and went on a shopping spree. Man, it felt so good to buy whatever I wanted. Ray Ban sunglasses? Sure! New wardrobe? Yes, please! Just charge it and I’m a rockstar! Wrong!
I racked up over $5,000 in debt and I quickly learned that I had to pay it all back… with my own money!!! (How rude!) And of course I didn’t have the money. I was fresh out of high school and my first year in college. Yes, I was working… PART TIME… and would miss payments because I didn’t realize how important it was to pay on time or even make a payment. High interest rate? What did that even mean?!?
It wasn’t until I tried to purchase a car and realize that I had a report that kept a record of all my credit activity. I also learned that a credit score of 540 was not equivalent to having a great IQ score. It was then when I had to become an adult, learn what my credit report & score meant, and get it fixed. Luckily, I learned this at a young age, but not everyone is so lucky.
Now as an adult, and a Realtor in sunny South Florida, I realized so many people have bad credit and don’t know how to fix it. If this sounds like you, then please take 13 minutes of your time and watch this interview of John Wilkinsin of Credit Solution Experts. Ok, I know 13 minutes sounds like a long time but hey… it’s a lot of info to share and you may actually learn something. Remember, 2019 is about bettering you so learn something, apply it, and reach your personal investments goals starting off in the right foot.
As for me and my credit history, I did paid off all my debt, raised my score high enough to purchase the car I wanted AND ALSO MY HOME, and pay my bills on time to show how responsible I am with my money. Was it easy? No. Does it take commitment? Yes. Was it worth it? Absolutely! So please do it too.
Zule Mesa, Realtor