Sometimes you have to start over, if I found myself in a position of getting out of debt PERMANANTLY and it damaged my credit I would probably do it to ensure my financial stability log term. Other factors such as my housing and transportation situation could affect the decision, but with a decent roof over my head and a way to get to work to pay off the debt I still think it would be worth it.
I guess that depends on how bad of a ding it would be. A bad credit score can hurt you for future financing, but if I'm not planning to finance anything (or at least anything large) over the next, what, 7 years until the ding is off my report?, why not take the ding? But individual circumstances vary. I've never been in debt and have good credit, so I can't really speak from a place of complete understanding/empathy of the situation.
Honestly, I might ding my credit a bit to get out of debt. I'm not planning on applying for new credit any time soon, so I would have time to build it back up!
Being debt free is way more important to us than a perfect credit score, especially since it is pretty easy to build that back up with smart planning and spending.
I don't think I would - even though I'm not a big fan of the almight credit score it does have the possibility of saving you lots of money down the road (interest rates, etc).
I dont think I would ding my credit to get out of debt. Credit is so important in buying anything these days from a home to cars to getting loans for school. I tweeted and follow on facebook
No way I would ding my credit. My high credit score is my ultimate last resort - I know I could basically get any loan I want because of it. Seems counterintuitive to lower it to get out of debt. If you have a high credit score, it's because you're responsible and can probably handle this yourself. If it's already low, then perhaps it could be worth it?
Definitely - I am not planning on making a big purchase (home, car, etc.) any time soon so it is much more important to get out of debt, especially high interest debt.
My number one simplification tool: shop online as much as possible. Not only do I find it's generally cheaper but I also avoid multiple trips to the store and I never feel compelled to buy on impulse because I'm not tempted by stunning store displays.
Just want to point out that you were pretty one-sided in the majority of these posts. You should be expecting to do all of these things for your neighbors too.
I was blessed .... and frugal.... and I'm getting to the part in my life where I use up what I have scrimped and saved all my life. I don't like this part. I hate seeing the $$ go down every month. I would give this book if I won to someone who needed to hear this message.
I would ding my credit. Being debt free is such a stress reliever and I wouldn't be in a hurry to get credit again so I could repair my credit rating eventually.
Yup, I got an email saying that they are sending me one. I haven't got it yet, but I did find the Facebook page for NetSpend scam and I alerted Visa about a potential scam. How did they get my email and mailing addresses?
Sometimes you have to start over, if I found myself in a position of getting out of debt PERMANANTLY and it damaged my credit I would probably do it to ensure my financial stability log term. Other factors such as my housing and transportation situation could affect the decision, but with a decent roof over my head and a way to get to work to pay off the debt I still think it would be worth it.
I would ding my credit to be out of debt. There's nothing like being debt free. Eventually you can fix your credit.
I guess that depends on how bad of a ding it would be. A bad credit score can hurt you for future financing, but if I'm not planning to finance anything (or at least anything large) over the next, what, 7 years until the ding is off my report?, why not take the ding? But individual circumstances vary. I've never been in debt and have good credit, so I can't really speak from a place of complete understanding/empathy of the situation.
I would be willing to ding my credit, unless there was a big purchase coming up (I guess it would also depend on how big the ding is too)
Honestly, I might ding my credit a bit to get out of debt. I'm not planning on applying for new credit any time soon, so I would have time to build it back up!
Being debt free is way more important to us than a perfect credit score, especially since it is pretty easy to build that back up with smart planning and spending.
Yes i would I think it's worth it to be debt free
Yes i would take the ding to my credit, it's worth it to be debt free.
Is there a way to do this without Facebook or other social media sites? I'd like to vote for you, but am not on any social media sites right now.
I would, getting debt free is my first step then I would start my credit rebuilding
I don't think I would - even though I'm not a big fan of the almight credit score it does have the possibility of saving you lots of money down the road (interest rates, etc).
I dont think I would ding my credit to get out of debt. Credit is so important in buying anything these days from a home to cars to getting loans for school. I tweeted and follow on facebook
I wouldn't ding to get of debt , I prefer keep good credit standing because you will never know when you need it.
No way I would ding my credit. My high credit score is my ultimate last resort - I know I could basically get any loan I want because of it. Seems counterintuitive to lower it to get out of debt. If you have a high credit score, it's because you're responsible and can probably handle this yourself. If it's already low, then perhaps it could be worth it?
I would not ding my credit to get out of debt
Definitely - I am not planning on making a big purchase (home, car, etc.) any time soon so it is much more important to get out of debt, especially high interest debt.
I would ding my credit to be debt free. I can rebuild my credit score. I make it a habit of not living on credit.
My number one simplification tool: shop online as much as possible. Not only do I find it's generally cheaper but I also avoid multiple trips to the store and I never feel compelled to buy on impulse because I'm not tempted by stunning store displays.
Just want to point out that you were pretty one-sided in the majority of these posts. You should be expecting to do all of these things for your neighbors too.
I was blessed .... and frugal.... and I'm getting to the part in my life where I use up what I have scrimped and saved all my life. I don't like this part. I hate seeing the $$ go down every month. I would give this book if I won to someone who needed to hear this message.
I would ding my credit. Being debt free is such a stress reliever and I wouldn't be in a hurry to get credit again so I could repair my credit rating eventually.
I have never had to even consider this option. I would try not to -- with any other option available to be, and only do it as a last resort.
Yup, I got an email saying that they are sending me one. I haven't got it yet, but I did find the Facebook page for NetSpend scam and I alerted Visa about a potential scam. How did they get my email and mailing addresses?
What a fresh perspective on financial planning - thanks for hosting the giveaway!
Yes.. I believe I would ding my credit.