Why Having Bad Credit Probably Saved My Financial Life

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accurate, are reported, and can fix a mistake in half a second. The knowledge I've gained in the past two years when it comes to collections, my rights as a consumer, things I owe and things I don't owe, has been invaluable to me. I am no longer afraid to answer my phone, which barely rings with 1-800 numbers I don't recognize any more (and are usually telemarketers, not debt collectors). When I get a notice in the mail from some place I've never heard of, I call them immediately instead of being scared to deal with it. And just because I am being financially responsible does not mean things do not ever come up anymore. I just received a bill from a collector for a bill that I'd paid several weeks prior, which was a mistake on their part. I sent over proof of payment and have been speaking with them to make sure it does not get reported. So, due diligence is something I've learned from this experience, and I am so grateful I did.

While the last two years have been a pride-swallowing, large-dose-of-reality time of our lives, I am grateful that during my 20s, my bad credit prevented me from getting into large amounts of debt. There came a time when no one in their right mind would have given me a credit card. I didn't have the ability to purchase a very expensive car or buy a house I wasn't ready for. I had no business doing any of those things, and fortunately for me, I couldn't even if I wanted to. Instead of staring down the face of $100,000 worth of debt, like some people are, I was looking at $4,000 that I actually negotiated down since the debt was so old. I also learned how to deal with situations and actually won judgments from creditors who were illegally trying to scam me out of money. I have also been able to help others who have fallen prey to collection schemes. So, for that, I feel as though having bad credit has really saved my financial life.

We only buy things with cash now and only things we can afford. We are unable to live beyond our means because we have learned it is just not worth it. We are saving up to buy our next car with cash so we do not have debt we will owe. We are currently leasing our dream home from wonderful people who are in no hurry for us to purchase the home while I am trying to get our credit score where it needs to be for a good interest rate on our mortgage. Life can be great after going through credit disasters, if you learn the lessons you should learn from it, which I feel like I have!


If you are in a situation of dealing with creditors and you aren't sure where to begin, please visit my blog, Sharing My Jennarocity, where I did a 3-part series on "How To Deal With Creditors and Pay Off Old Debt.


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