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Re: Several Questions About Our Credit


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Posted by Why Chat (208.252.179.25) on June 13, 2004 at 11:30:06:

In Reply to: Several Questions About Our Credit posted by Just Married on June 12, 2004 at 23:57:51:

Congratulations on your marriage.

Before you do anything else, you and your spouse should sit down and draw up a budget.

It is not enough to be able to avoid paying existing debts, or having a cleared up credit report, or even being ABLE to buy a car on credit, you need to rethink your lifestyles and spending and budgeting habits that caused your problems.

Unless and until you figure out how you want to approach your future spending habits and life together, no amount of help or advice in dealing with your past problems is going to do you any good.

Instead of "buying a new car" think about establishing a savings account for emergencies, getting health insurance and cutting down on unneccessary spending.

The expenses of high interest rates for a new car because of your bad credit, high insurance rates because of your bad credit, and judgments from your existing debts need to be dealt with in a mature self sufficient manner.

Do NOT let any family members risk damage to THEIR good credit by co-signing on any loans.


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