Poor Credit is not a Problem

It may seem incredible to a few people, but poor credit is not a problem when seeking significant reductions in consumer debts. Payments can be reduced. Interest rates may be slashed. Even late fees and penalties can be wiped out without adverse affect. The reason poor credit is not a problem is because credit counseling services do not use credit ratings as a threshold qualification requirement. In fact, the best example to prove poor credit is not a problem may surprise you.

Why poor credit is not a problem

Credit card companies charge some of the highest interest rates in the U.S. Because of an explosion in consumer debt and the lowest level of personal savings since the great depression, lenders merchants and employers all know that poor credit is not a problem because the majority of all people now experience financial strain. Certainly, poor credit is not a problem for the wealthiest few in our society, but this top 10% is not representative of the work-a-day parents who represent 75% of the total population.

What credit ratings really mean

Credit ratings are merely a form of social profiling. Whether your score is consider good, or bad, is simply an arbitrary corporate assessment of your potential. Think of ratings and profiles as sliding scales in a world were perfection is impossible. Poor credit is not a problem because the word "poor" is only relative to the opinion of unknown corporate employees who are concerned only with corporate profits. Ratings are impersonal and frequently unfair, yet represent the least offensive option for large corporations who do not consider personal circumstances.