Time to hit the “Reset Button?”

Time to hit the “Reset Button?”

Close up view of a red reset button on a computer keyboard.

Time to hit the “Reset Button?”

Credit is more important than cash! Yup, sad but true and if you are short on both it’s hard to navigate life on a daily basis.

Have you taken a hard look at your personal, or family financial picture – money in, money out – your income and financial commitments often don’t align. No judgement here, doesn’t matter if you are a retail worker, or high-paid business executive. Life is the real equalizer, and every one of us is one or two personal or financial setbacks away from dealing with the stress of debt!

The hard questions to ask yourself:

  • Am I only paying interest on my credit cards? It’s scary to read the small print on the statement that advises, paying the minimum payment only your debt is cleared in 40 years!
  • Am I late paying on any bills? Even if you are one or two days late this will report internally on your credit bureau.
  • Am I borrowing from “Peter to pay Paul” – using one credit card advance to make a payment on another? Resorting to payday loans is a slippery slope!

Finding solutions to navigate the burden of debt can be overwhelming. Burying your head in the sand - well, you pop up and find the debt still there! Unfortunately, time will NEVER build credit so ignoring what may be on your credit bureau and expecting in a year or so, it’s going to be better is not the reality. It follows you and continues to limit what financing you might be looking for.

Other than car financing, have you been declined on any other credit applications, or have any other issues that are a result of your current credit standing?

ONLY CREDIT BUILDS CREDIT – but if you can’t get approved for it, where do you go from here?

Turning life around from a debt crisis can be one of the hardest things to experience – and harder yet if you are looking to finance a vehicle that you NEED to get to work and pay your bills! It might be time to consider "hitting the reset button" for a fresh start!

If we could introduce you to a credit resource, on a scale of 1-10 with 10 being very serious, what interest would you have in learning how to get at least half of your debt forgiven and solutions that can set you up for a better life?

You are answering YES, then ask me how to connect with professionals about your personal situation and get some HONEST advice.

Anne Kolodynski – Personal Finance Consultant
RightRide Edmonton / Auto Canada

Categories: The Right Advice, Credit, Credit Approval

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