Consumer spending helps our economy, but a poor credit rating costs the average consumer, according to the US Fair Credit Alliance, $4,500-$6,000 per year . . . or $75,000 lifetime. Unnecessary deposits, excessive interest rates, higher insurance rates, and even lower-paying jobs can be counted among the financial hardships you face when having credit problems. Unfortunately, that doesn’t include the extreme inconvenience, additional stress, feelings of low self-esteem and loss of dignity associated with being considered a second-class citizen in a society basing importance on credit worthiness. Who wants or needs that aggravation and despair! Indeed, who would want to pay more but have less? Bad credit WILL cost you one way or the other. You will either pay more interest, higher rates, waste rent money and/or live a life that leaves something to be desired, or sit around wishing or hoping to win the lottery as the only way of getting what you want.
If your credit is less than desirable, I strongly advice that you seek out some books or check the web for information on repairing your credit. The road to credit recovery isn’t easily traveled. However, the longer one waits, the more it will cost.
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