Life is Hard
Folks, it’s a fact. Sometimes bad things happen to good people.
Life happens to each of us. Sometimes we ride it out without a hitch. But sometimes it catches us off guard, ill-prepared, and unable to manage. We lose our jobs, we get sick and medical bills skyrocket. Or maybe you get hit with a legal issue or a family breakup/divorce that rocks your finances. You can’t make your payments on time, and you get hit with a low credit score. And it all spirals from there.
Those are bad things that happen to good people. And though you work hard to overcome the odds against you…somethings got to give. And for a reported 34% of Americans, what gives is the credit score. Did you know just over 1% of Americans have a perfect credit score? Trust us, you are not alone.
If you have a low credit score, signifying poor or fair credit, life can be hard. It’s hard to get a loan, and if you do you get hit with super high interest rates. Getting approved for rent gets shaky and we’ve seen people get taken advantage of. Why does it seem like the people who need the most help, get the most hurt?
At the Ashland Community Credit Union, we believe good people need a chance to be good people! A second chance is sometimes all you need, and we are willing to give it. In fact, it’s our philosophy that “we want to give you a loan, unless you can talk us out of it”!
But until then, here are some things that you should be thinking about as you pursue a life of happiness, a life that you deserve regardless of some of the hardships you’ve overcome.
Cars and credit are like the Chicken and the Egg. Which do you need first? You need credit to buy a car. Cars are too expensive to buy with cash. But you need them to get to work. And if you can’t work, you can’t pay your bills. And if you can’t pay your bills, your credit score goes in the tank. And without good credit…well, you can’t get that car. See…it's a vicious cycle.
If you need a car loan, the Ashland County Credit Union can help, even if your credit score is low. It makes sense to secure your loan before you go car shopping, so you’ll know how much you can afford, and you’ll get the best and lowest interest rate.
Other than the car, daily life is a challenge with poor credit. But you can overcome! Make decisions that help to improve your credit score. Like these:
- Live within your means: You don’t need a good credit score to buy meals you can make at home, or to turn off the lights when you aren’t in the room. There are so many ways to shave dollars, so you don’t need more.
- Be smart: That big screen tv can wait if you need to make payments to enjoy it. Remember…fewer payments, fewer troubles
- Go for value, not for cheap: This may sound counter productive, but if you are going to make major purchases, try to get better value, instead of just the cheapest option. Some folks take advantage of loans to meet life’s necessities in a way that will last.
Ask us if you qualify for a personal loan to allow you to access cash to make smarter decisions. Again, we want to give you a loan. If you think you won’t qualify, let us try!
Pursuit of future happiness:
They say “This too shall pass”. And it will. But it might take a while before your credit score comes back to acceptable for others. In the meantime, think about the following ways to be proactive:
- Increase income: There are plenty of jobs. You can work a side hustle, or add a part time gig to your day. You can work remote to add some cash while you are watching the kids. Extra money in your pocket means you won’t rely on another loan.
- Consolidate your Debt: Sometimes you just have too many bills due, to too many people. There are lots of ways to clean that up. One way is with a debt consolidation loan from the Ashland Community Credit Union. With a debt consolidation loan, you’ll pay everyone off (within limits of course) and roll it into one longer term monthly payment. If you think you won’t qualify for something like this, let us try! It’s well worth a shot, and we are betting on you to succeed!
- Pay off one bill at a time, and then cut up that credit card. More on credit card debt to come in this helpful blog. Sign up for updates here.
You may have a low credit score, but you are NOT your credit score
These are simple ways to help get yourself on the right track. But remember, in the meantime, we are here to help. We know that sometimes bad things happen to good people. And we’re willing to hear your story. At the Ashland Community Credit Union, you are not your credit score. You’re a friend who needs a hand.
It’s worth repeating one more time…At the Ashland Community Credit Union, we want to give you a loan, unless you can talk us out of it first.
Click here to contact us today, and tell us your story. It matters to us. And so do you.