We have a large number of clients that are experiencing this particular issue; that have a respectable credit score, but they can’t refinance their home or obtain new credit of any kind. It is simply because there debt to income ratio is too high. Having a high credit score with an upside down debt to income ratio is like having your dream car or truck with no engine. It’s appealing to look at and looks nice parked outside of your house for all your neighbors to see, but it can’t get you anywhere. Same principle applies to your credit, you might have a high credit score, but in all actuality it does nothing for you and only looks nice to a handful of people that might get to see it.
We recognize you have worked hard getting your credit score where it is today, but you have to ask yourself what is most important to you in life and what your goals are?
Are you thinking short term or long term goals for your future? Let’s start with your short term goals and what you want to accomplish financially; have you even made a list? A few things might include: building a savings account that has enough resources available to live comfortably for 3 months or paying off one of your many credit cards.
Whatever it is, I’m sure they are great ideas; however we need to start thinking about your long term goals as well. Like paying off all of your unsecured debt, having your home and vehicles paid for, having a CD or funds set aside for your kids to go to college or to be able to afford a vehicle for them to drive when they get that age. Most importantly to be debt free and to regain your financial freedom; being able to not have to live paycheck to paycheck or try to make your groceries stretch for an extra couple of days.
I’m sure your long term goals are not on your list of things you worry about each day, but it will be.
Proper planning is the key to success; anyone who has made a substantial amount of money in their lifetime can tell you that it came with an idea first. With an idea comes a plan; in order to turn their idea into a possibility it requires the right work ethic, drive and motivation. However you have two options, you can turn that possibility into reality or be scared of the opportunity that the idea has arisen.
That is exactly what Credit Alliance Group has to offer to the millions of Americans with either good credit that they can’t do anything with or the people with bad credit that need help to get back on their feet. We offer you the opportunity to turn your dreams in to reality and your ideas in to opportunity. Our Debt Management Programs range from 6-48 months and allows you to be completely out of debt and back on the road to becoming debt free within months instead of the years it would take you doing it the “normal” way.
If I were to pour a glass about half full of water and asked you if it was half empty or half full, what would you say?
If you think its half empty then I can almost guarantee you will continue in the same direction towards the thousands of dollars you’ll pay in interest and the countless years it will take to pay it off. If you see the glass half full then you are one step closer to fulfilling those long term goals of become debt free and investing the money we save you towards those goals.
Excellent Credit Score; yet not able to obtain new credit? - To learn more about this author, visit Eric Pinola's Website.
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