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Healthy Credit Score – The Vital Sign of Your Financial Fitness

Healthy Credit Score – The Vital Sign of Your Financial Fitness

When we go to the doctor, the first thing they do is check our vital signs. Blood pressure, pulse, and blood oxygen levels. Every time. In effect, what they are doing is checking our heart. Without a healthy heart, it’s impossible to have physical fitness. The equivalent in financial fitness is having a healthy credit score.

Most of us will agree that the key to a healthy heart and physical fitness is diet and exercise. If we maintain a healthy eating style and exercise regularly, we have a reasonably good outlook for physical well being.

Similarly there are keys to financial well being also. Good habits that we all can learn and do to have a sound financial well being. And, if we do these things we will have a good outlook for financial fitness which will be represented by a healthy credit score.

healthy credit score

First of all, we need to check our financial fitness vital signs ourselves. For most, there’s no financial doctor that we go to regularly that do that for us. So, we need accurate, real time credit monitoring. Not the free services because they aren’t accurate and aren’t real time. Not the one we get from the credit card companies for the same reason.

Then we need to protect our credit which comes from protecting our identity. It’s like taking supplements to bolster our immune system. Identity theft protection is a key to a healthy credit score and sound financial outlook.

We also must learn how to get and maintain a healthy credit score. It seems that everyone is only focused on negative items versus positive items on their credit report. But there are many things we can do on a regular basis to achieve a healthy credit score even if we have negative items on our credit reports. We were taught at least some things in school about health. There were even courses we had to take. But there were no courses financial fitness and certainly nothing about a healthy credit score.

What about those negative items on a credit report? Can we do anything about that? Most of the time, yes! Just like with disease, if left unchecked it could seriously affect your health.

If we have negative items on your credit report it’s like a disease of our financial fitness. And, in a lot of cases it can be rectified. Yes, we have to take a remedy for it but not forever!

Then there’s debt. Paying interest on debt zaps our financial energy. Money is going out with no return. But what if we could pay that debt down and stop paying as much interest? We would have more money to save for emergencies, retirement and college.

Once we start developing a sound financial outlook we need to protect it all. Therefore we all need a last will, living trust and medical and financial powers of attorney. Without these vital documents everything we build for ourselves could go up in smoke before our heirs see it.

Everything we need to rectify these problems and have sound financial fitness is available. The problem is, that up until recently, no one knew where to get all this. It was like going to a gym for cardio, then another for weight training, then another for yoga. It was unrealistic and expensive.

Now, everything we need for financial fitness is all in one place with one membership for just $89/month. And, it’s simple. You log into an online account and all these services are waiting for you. Plus there are videos to explain each.

Now financial fitness is as readily available as physical fitness.
But just like physical fitness it requires focus and discipline.
Are you ready to get focused?

Consumer Debt is Still a Big Problem

Even though most recent reports signal a recovery of the U.S. economy from the worst financial crisis in close to 100 years, delinquent consumer debt is still a major drain of individuals and the economy as a whole. Reports indicate that there is a bigger problem in this area than experts previously thought. And, many consumers don’t even realize they owe this delinquent debt.

A report by the Urban Institute from late July, 2014 revealed that about 77 million adults have delinquent debt on their credit report. This excludes mortgage debt and takes only into account unpaid medical bills, credit cards, utility bills and other forms of consumer debt.

consumer debt

Income Level and Consumer Debt

This report also found large differences in the amount of consumer debt owed based on income level. Areas with lower incomes, such as the South, had collection rates as high as 40%. They also found concentrations of past due debt in Texas and Louisiana amongst other regions.

What was also interesting about this report is that creditors don’t seem very active in seeking payment of this debt. Many consumers discover that they have unpaid bills only when they go to purchase or lease a car, rent an apartment, buy a home, or make some other type of purchase that requires a check of their credit report.

Our Advice to You

Based on these findings our advice is to get a copy of your credit report. You can obtain a free copy of your Experian, Equifax or Transunion credit report at www.annualcreditreport.com. If you do have unpaid debt you can either call the creditor and negotiate a payment, or you can call us. Through our industry best credit repair service we can potentially get it removed from your credit reports on all 3 bureaus.

ERA Credit Services
www.eracreditservices.com
619-492-3040
727-222-0120