Should I be Concerned About the Credit9 Mailer I Just Got?

Question:

Dear Steve,

I have a low credit score and am looking at debt solutions. I just got an offer from Credit9 that sounds great, but it will involve me not paying accounts on time. This concerns me.

Should I do it, or should I just put some lump sums toward the credit cards?

Jim

Answer:

Dear Jim,

There is more to the story about why you have a low credit score. It sounds like you are putting the solution before determining what the underlying problem is.

Do you have too much debt, late payments, just limping along, or what?

Just toss a lump sum against the credit cards only makes sense if you have the cash to spare, your issue is only a problem with your debt to income ratio, and this will not drain your emergency savings account.

I’ve written about Credit9 mailers in the past. I don’t know exactly what they are trying to sell you but at the very least it sounds like you should talk to a coach to give you a map on how to get to what you want to achieve. Talk to Damon Day or Michael Bovee, two people I trust to give you good advice based on your particular situation.

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