National Debt Relief Talks About Weighing Credit Score WIth Debt Payment At Old Age
Philadelphia, PA (PRWEB) April 19, 2016 -- National Debt Relief recently shared in an article published March 14, 2016 some points to ponder on for retiring consumers when they are faced with the decision of choosing between a dip in their credit score and paying off debt. The article titled “Should You Sacrifice Your Credit Score To Pay Off Debt Before Retirement?” looks into this dilemma and helps people make the most appropriate decision.
The article starts off by pointing out that debt freedom is a crucial part of any person’s retirement equation. Consumers who are crunching in retirement numbers would find it difficult to squeeze in the funds they still have a lot of financial obligations. From credit card debt to student loans, auto loans and especially their mortgage loan - all these can dwindle down their retirement money.
This is where the question of sacrificing their credit score to attain financial freedom comes in. The article explains that debt reduction is one of the routes older consumers usually consider to be able to pay down their debt at a significantly lower amount than the original debt. But this strategy lowers down their credit score and this is where it gets tricky.
The article shares that older consumers need to think this through and weigh the effects of debt reduction. Debt freedom is a great financial position to be in during retirement because it not only helps people save money, it allows them to be free from the stress of debt payments at an old age. They just have to make sure that they get to rid all their debts with the debt reduction program.
The article further emphasizes that debt reduction could result in a bad score but if consumers have no use for a good score, the can afford to let it go down because their credit ranking will improve over time. If they do not need it to be high for a couple of years, it is okay to sacrifice it if that means they can retire without debt.
To read the full article, click https://www.nationaldebtrelief.com/sacrifice-credit-score-pay-off-debt-retirement/
Paul Ritz, National Debt Relief, http://www.nationaldebtrelief.com/, +1 888-703-4948, [email protected]
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