Do You Need To Repair Your Credit - Credit repair and how to do it is a big topic, we have written on it before and blogs in our niche have. But do you really need to get it repaired?
Do You Need To Repair Your Credit?
When you mess up your credit people warn you about all the things you won’t be able to get anymore. Things like “Ouch, there goes your chance of getting a credit card”, “You won’t be able to get a mortgage until that’s fixed”, and “You better not be thinking of renting a new place”, are all common things people warn you of.
Of course the reason you likely took a hit on your credit rating is not a good one, it’s like you defaulted on some payments a few times and may now even be carrying some bad debt. The thing is every cloud has a silver lining, cliché I know!
I’d like to talk about what I think could be seen as the silver lining for someone who who has ruined their credit rating.
I screwed up my credit rating and I don’t care! I have no intentions of repairing it….
Lets talk about me first. Years back I let debt build up on various loans and credit cards to quite a nasty mess. I kept up with all the various payments for quite some time but eventually using debt to pay debt bites you back and I couldn’t keep up. I had to do something so I got the help and ended up in a debt management plan. The problem with this is I defaulted on all my payments and destroyed my credit.
But facing up to my debts and realising how it had gotten so bad made me realise the cause of the debts was the only reason I ever got in debt in the first place. That cause was access to easy credit, something that comes with a good credit score!
But I didn’t want to take credit again, in fact I pledged to never take credit again here on the blog. In my mind that meant no credit cards, no mortgages, no overdraft, no more debt! So why would I ever need to worry about my credit score again?
That is my personal take. It isn’t for everyone and there could be some potential pitfalls. Having bad credit could cause me some problems when renting but that has not happened to me yet. It could cause me problems buying thing, by not having a credit card, but I have never had a problem using my Visa Debit card for anything.
What do you think, am I nuts or do you agree with my stand point?
Here are a few resources from the blog if you do want to repair your credit and ignore my ramblings! Credit Cards to Rebuild Credit; Quick Ways To Boost Credit Scores; What Credit Repair Steps Are Required To Increase Your Credit Scores.
Some of the best advice for repairing credit can be found on the FTC’s website.
Thanks for reading. - Do You Need To Repair Your Credit