Poor Credit and An Opportunity to Consider

After a discussion last night with a colleague regarding credit scores and the immature decision making process of financial institutions based on these scores, I remembered a blog post that I wrote in December 2008 regarding debt and unemployment. Many people accrue debt due to expenses incurred during unemployment. Hence, a poor credit rating may be a result of a prolonged period of unemployment. As far as I know, financial institutions based decisions on the score and do not consider the reasons behind the score. I'm still paying for debt accrued during my year long unemployment in 2003-4. Therefore, I want to reach out with some options that may help mitigate or overcome this situation.

I have these options listed at this link on my website. For those of you that are unemployed, I don't expect that the income generated by these options would replace the income that you made while employed. However, that is possible if you feel strongly about the options and devote adequate effort. I do expect that this income could mitigate the debt accrued during unemployement. In other words, you may reduce your future burden. For those of you that are employed and have debts, income generated by these options could reduce or pay off these debts. For those of you that are employed and are debt free, income generated by these options could add to your reserve fund. Your fund should eventually contain 3 to 6 months of income.

I would be happy to discuss these options with anyone. Please feel free to contact me at todd@toddthigpen.info.

The value of good counsel

During a stewardship class that I recently attended at my church, I read Proverbs 15:22.

“Plans fail for lack of counsel, but with many advisers they succeed.”

This wisdom from the Bible reminded me why I value my legal plan from Prepaid Legal Services and why I enjoy offering the plans to others. A legal plan allows people to affordable access legal counsel. I have gotten some good benefits from my personal plans that have saved me time, money, and headaches.

I am also excited that the Prepaid Legal Services website now includes free legal videos on a variety of subjects. From that page, there is a link to public domain resources with more information on a variety of subjects and a link to the Forms Service Center that provides forms for a variety of legal needs. If interested, learn more at my PPL website and get your plan.

Since I’m talking about my side business, I would appreciate your help in my effort to reduce my debt. Information is available at my website.

Yes, I have made financial mistakes in my life and have not been a proper steward. However, I know now that I am responsible for taking care of what I have been blessed with. I tell you that I sure do act better as a parent when I remember that I am caring for his children.

Now with good counsel and the help of good people, I will get out of debt and be the assertive philanthropist that I want to be.