What is Your Credit Scar?

Written by A Guest Speaker on May 21st, 2008

What is Your Credit Scar?
Written by Rich Hill

In 1987 one of the most popular movies was “Wall Street.” The main character, Gordon Gekko, played by Michael Douglas, proclaimed the famous passionate announcement, “GREED IS GOOD !”

Well, as popular as that movie was, and even though it would be easy to fall in the trap to believe Mr. Gekko, we all REALLY know that is not true, as evinced as the outcome of the movie.

Well I have another one for you, and this one is actually true. “CREDIT IS EVIL !”

Our grand parents, those who lived through the Great Depression, and parents that had to scrape to make a subsistence living for their family, did not believe in credit. A mortgage for a farm or home might have been acceptable to them, but the idea of paying banks and other lending institutions usury rates for the mere sake of borrowing on advanced earnings to support childish and selfish habits, would have been totally out of the question.

If you were born in the time period since World War II, and most of you were, then you have lived through a time of fabulous opportunities and have witnessed a phenomenal growth in technology. The me me me generation that has to have everything RIGHT NOW has come to a rude awakening. CREDIT IS EVIL!

You have been assaulted by the buy it now, pay later, no money down, interest free for six months, low monthly interest rate, adjustable mortgages, and other advertisements that have been in your face from first thing in the morning until the last thing at night.

Your peers and you play a great game of keeping up with each other and you are both named Jones. It is a whirlwind of gotta have it, and gotta have it now, that is so easy to get caught up in.

The information here is taught each and every day by a man that is respected by millions of followers all over the country. Mr. Dave Ramsey is the man I’m referring to and the title of this article, “What is Your Credit Scar?” is a statement that he discusses constantly. Dave Ramsey is brilliant! He puts things in perspective and can show you exactly why you need to take some Baby Steps to get out of the debilitating mess that you have gotten yourself into.

I started listening to Dave Ramsey on satellite radio about three years ago and I only wish I had found him much sooner in my life. He speaks common sense and truth. Dave’s theory is that you must rid yourself of ALL debt! It is his opinion that each and every one of you are able to rescue yourselves and kick the habit that makes banks and credit card companies earn billions and billions of dollars off the backs of the enslaved minions.

When you listen to any of Dave Ramesy’s radio broadcasts you will hear callers scream out in family unison, “I’m Debt Free !” The pickle that many of these families have been in is just exactly what most of you readers currently find yourselves in. You have been taught to make sure you have a good credit score (Credit Scar as Dave says,) and that you must pay at least your current minimum balance on all of your bills. Well that is just a bunch of hooey!

The banks want you to be subservient to them. Suddenly the low interest rate card that you were so proud of and even consolidated all of your bills into, has jumped from low interest, or no interest, to the maximum allowed, which is somewhere up around 28% compounded! If a mobster loaned you money at these rates he would be eligible for arrest and imprisonment! The banks and lending institutions are allowed by the government to get away with it under the guise of handling charges, late fees, service charges, and other cockamamie phrases that are just plain stupid. Dave calls these idiotic payments a “Stupid Tax.”

It is time to put your life in order. Lean back and look at your situation. Listen to Dave Ramsey and take some baby steps. I am not able to articulate or describe in detail exactly how best to do it but Dave is a genius at it. You must find his radio program and start listening to it faithfully. After about a week or so, you will begin to understand exactly how easy it is and how you can get control of your life and be proud of your accomplishments in doing so.

Some of the ways that he will tell you over and over again are really absurdly simple. Take care of your immediate needs first. Food, Shelter, Utilities, and put ALL credit payments on hold, except your mortgage, until you are able to have a $1,000.00 Emergency Fund in a savings account, and do NOT touch it, other than for emergencies.

Dave will tell you exactly how to keep the illegal threatening bill collectors off your back and get them out of your life permanently. Once you have some breathing room things will start to come together much better for you.

Read any of the many books that you can either purchase at very fair prices or borrow from your local library. I have never read a Dave Ramsey book I didn’t like. If you are in or near any of the cities that Dave will be speaking at, then you MUST attend. Your life will change for ever, and it will be for the good!

There also is Dave’s famous Financial Peace University, and he also offers strong skill building programs that he calls EntreLeadership. If you want to succeed in life it will absolutely be able to be accomplished by following Dave Ramsey.

You owe it to yourself and family to visit www.daveramsey.com. Life, Money Hope!