We as Americans have been engrained to believe that having an excellent credit score is of the utmost importance. Many people strive for perfect credit and believe wholeheartedly that it is a reflection of their character. What does having perfect credit mean? Is perfect credit possible? According to this article in US News & World Report, a perfect credit score may be possible but is very elusive and ultimately may not mean a whole lot if you are in debt.
As this article point out, our credit scores change with the wind and may not mean as much as you think. Most individuals will benefit from the best interest rates with a FICO score of 760 or higher. One of the key steps to obtaining a great credit score is by using no more than 20% of your available credit. For many Americans, this is not within their reach. Due to economic hardships, job loss and medical bills, millions of people have had to rely upon their credit cards just to get by.
If you are trying to improve your credit health by reducing your credit card debt, medical bills or personal loans, it may be time to consult with a debt settlement attorney. A qualified debt settlement attorney can help negotiate principal reductions in the total amount that you may owe to your creditors. Reducing your overall debt can give you peace of mind and lead you towards the path of economic freedom.