From Good Credit To Collection Debt
Twenty years ago, for the consumer, in most cases, life was simple. Earn a living for food, clothing and shelter. Bills were paid. Instead of renting, it sure would be nice to own a house. Somehow that could happen, the dream of home ownership could come true. Your FICO score was decent. Save a little and work more. No debt. The income stays the same and costs of living go higher.
Regardless of your credit, credit card offers come in the mail for the consumer. We were under the impression that you had to have excellent credit. Having a credit card used to be a status symbol. Credit cards WERE for consumers with an excellent score which was rare. Now in the 2000′s, there are “fee-harvest” cards targeted for consumers with lower scores of 600s. Many fees bring profit. The offers are in the mail and on tv and NOW on the internet in your email. Why do we bite and take the offer? What compels us to get the card?
There is enticement by media, tv, radio, internet, mail, to have a little bit of this and a little bit of that. A dinner out, clothes, entertainment, environment improvement (home accessories and toys), a vacation, why should you be deprived? We are not saying to deprive oneself, but why should you pay 10x over the actual amount.
What if you want to start a business or pay tuition with a credit card? What if you cannot qualify for a loan? Should you get a credit card to fund the future when you WILL be making more money? Is that a plan that will work?
You have to change your mindset. How can you eliminate yourself of debt if you do not understand how you got to the place of collection debt?
Present day, the (single) consumer get married and double credit card debt, mortgage (yeah) and car payment. Bills are being paid, and are you saving for a rainy day? Two incomes, middle class life in America, but the debt to income ratio WITH the credit cards is high. It is difficult to pay more balance on the cards and get rid of the debt. You are overextended.
Eighty percent of America is facing this type of scenario. There is hope and a solution for change.
You cannot predict crisis. You cannot control crisis. Unforeseen circumstances come…loss of shelter, illness, death, divorce, job loss. Life goes on.
Six months pass and you are dealing with your hardship. Credit does not matter. The collection agencies start calling and sending letters. The ignorance of consumers is what collectors prey on. Most consumers do not know how collectors operate and what to do. You will need to educate yourself. Quickly. Take action. This situation could become worse.
Do not be ashamed of your collection debt. You cannot control your hardship and unforeseen circumstances. The credit card industry sets up a consumer trap. The consumer needs willpower to resist credit cards. Once you understand how this trillion dollar industry operates, your mindset will change along with your financial future. Spread the word!
Looking to find the best solution for getting rid of collection debt, then visit www.nextlevelunlimited.net to find the best service on debt elimination for you.
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