After creating a debt management plan, stick to it
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After creating a debt management plan, stick to it
Don't rack up new debt before you pay off old debt
By Todd&Ossenfort
The Credit Guy
The Credit Guy, Todd Ossenfort, is a credit expert and answers readers' questions about credit, counseling and debt issues.
Dear Credit Guy,
I'm enrolled with a credit counseling organization for help with three credit cards that I misused. So far I've done pretty well -- always making my payments -- but I have to say I haven't see a huge change in the bills I'm receiving from the credit card companies. I've been paying for almost two years on a three-year plan. My real question is that we recently looked at new cars. Knowing our credit wasn't perfect, we had them check our finance options. They seemed to look at us like morons for being part of a credit counseling program, which I didn't know how to defend. Is this stuff legit or would I be better off just trying to pay these bills myself? I honestly don't think so, but this guy told me I would. What does he know that I don't? -- Frank
Dear Frank,
I see these situations quite frequently. First of all, I would ask you to consider the source: A car dealership &finance guy& that gets paid a healthy commission for selling you a loan. Many times these &finance guys& have little or no formal training in budgeting or reading credit reports. Their job is to sell you the loan regardless of what is the best for you.
The fact that you have been able to make all your payments for the past two years to the credit counseling organization and you haven't experienced any other financial hardships illustrates to me that the plan is working. Would you agree? So, I'd feel safe in saying no, you would not be better off trying to pay the bills yourself. On most debt management plans, the creditor offers a lower interest rate and a lower payment factor until the outstanding balances are paid off. You would lose these benefits if you decide to pay these bills yourself. I would recommend you stay on your debt management plan and finish paying off your credit card debt.
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Also, part of the agreement you signed when you enrolled on the debt management plan stated you agree not to acquire any new credit while participating in the plan. It really isn't fair to the three banks that took a risk on you in the first place by extending you credit in the hopes that you pay them back as agreed and then be put off longer so you are able to drive a new car. After you admittedly misused that privilege and found yourself in trouble, the banks agreed to give you a lower payment and lower interest as part of a debt management plan. In return for these concessions, they ask that you don't acquire any new credit.
Frank, your situation is a classic example of having a financial road map but not sticking to it. How long has it been since you spoke to your credit counselor to update your monthly budget? Has your monthly income significantly increased or your fixed expenses decreased since enrolling on the debt management plan? Can you really afford a new car or is it just to keep up with the Joneses? You say that you are on a three-year debt management plan. There is light at the end of the tunnel. You are almost there. Finish it up.
After completing the debt management plan, then it is time to shop for a new or used car depending on what you can afford.
Although some lenders do react negatively to accounts being flagged as part of a debt management plan through a credit counseling agency, many view them positively. I would be willing to bet that from the time you enrolled on your debt management plan until the time you finish the plan, your credit score will increase.
Not that you should ever feel like you need to defend yourself to a potential lender, especially a &finance guy& at a car dealership, but the answer to why you are involved with a credit counseling program is quite simple. You wanted to make good on your promise to fulfill your end of the credit agreements and you are doing that with the help of a debt management plan. What lenders, looking at things realistically, wouldn't want to extend credit to people who are making good on their promises to pay rather than walking away from their debts?
Take care of your credit!
See related:
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Published: July 14, 2008
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Stick To It
Journal Article
Stick To It
The New Phytologist
Vol. 17, No. 5/6 (May - Jun., 1918), pp. 95-96
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Stable URL: http://www.jstor.org/stable/2427858
Page Count: 2
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Processing your request...歌手《》 - 专辑《》 - 歌词《》
在线试听歌曲《》
Yellowjackets - Stick To-It-Ive-Ness歌词
RevelationDevil's NightD12I don't wanna go to school.. I don't need no educationI don't wanna be like you.. I don't wanna save the nationI just wanna live my life.. everyday a celebrationOne day I'ma leave this world.. I'm waitin for the revelationI wanna kill myself! I'm still debatinIn front of a baptist church, masturbatinPrayin to Satan - think I'm crazy cause I smoke cracklive on beat with the mack in a two-family flat(Fuck it)Tired of gettin hit in the face with a broomMy moms on her period, my dad's in my room (Daddy no!)I got ten rocks and I need to get outI sold 'em in five minutes, in my own damn house (Mom smokes crack)My poor grandmother, God bless her soulThe bitch got AIDS (aww) she just waitin to die of a cold (hahaha)There's three things that keep me from bein a NaziI'm black, a fag, and my dad's LiberaceNo matter how bad the beatin, I went to school cheatinMy dad whooped my ass at a PTA meetinStick with school I had to have nuts just to do itGot bored and became truantWhen I had the gall to go I just couldn't do itI was lured into corners by the peer pressure shitHow would you feel if you was held by the tip of a barrelGettin threatened to get your skin ripped to bone marrowBet suburban kids never got rushed for their apparellike me, outcast, last in classFirst to leave, when the teacher called on meBest believe I had somethin up my sleeveI've been praised and labelled as crazedMy mother was unable to raise me, full of crazy rageAn angry teenager, nothin can change me backGangsta rap made me act like a maniacI was boostin, so influenced by music I used itas an excuse to do shit, ooh I was stupidNo one can tell me nothin hip-hop overwhelmed meto the point where it had me in a whole 'nother realmIt was like isolatin myself was healthyIt felt like we was on welfare but wealthyCompelled me to excel when school it failed meExpelled me and when the principal would tell meI was nothin, and I wouldn't amount to shitI made my first million and counted itNow look at, a fuckin drop-out that quitsStupid as shit, rich as fuck, and proud of itThat's whyI don't wanna go to school.. I don't need no educationI don't wanna be like you.. I don't wanna save the nationI just wanna live my life.. everyday a celebrationOne day I'ma leave this world.. I'm waitin for the revelationI was raised with a rifle and maskSteadily beatin my psychiatrist ass just for askin about my past(bitch) I was nev fuckin aroundcan get yo' belove abducted, smothered in blood quickYou couldn't pay Swift to give a fuckWas crazy like my father, it musta been poison in that nigga's nutFar as probation, fuck peein in cupsI violate at any time, let 'em see the bluntI grew up steadily masturbatin inside of cellsYoung as hell, havin conversations with myselfYou could tell I wasn't lenient, a disobedientLynched and slapped teachers, bitch I'm not readin itYou don't know what dawgs go through, a little niggaSippin liquor with my old dude, what the fuck you gon' do?I'm quick to curse you, I told my mother that I'ma hurt youif you ever again mention a curfewLook, my family ignored me and I don't like thatThey don't even listen when I tell them I'll be right back(Yeah whatever) This nice beautiful house ma, it don't mean shitCause you know daddy's a drunk and he don't clean shitAnd yesterday he hit me like a grown fuckin manI couldn't stand up to him, I just ducked and ranI'm sick of this, I wish on Christmasthat I can get a loaded four-fifth and put a fuckin end to this(Fuck it) I got no friends and I can't get a bitchOnly thing I have is dirty magazines and sticky fingertipsNothin to smile about, I'm about to lose my mindGot me an automatic nine, now I'm ballin outWait 'til school's over, pu-pil are people to shoot throughKids goin cuckoo, with a two-twoSince my friend is this new dude, in this high schoolLosin his noodle learn that people don't like youThe football jocks is, spittin on himPopular kids in school is now pickin on himBurn out youngsta niggaz now hittin on himAnd his teacher in his english class keep flippin on himAnd now he's grounded with no allowancesfor drinkin forty ounces, cause he was caught by his counselorsAnd why the fuck I gotta ride the bench coach?Already got expelled for wearin a trenchcoatAll I ever seen is.. {violence, violence}Told me to keep silent, stepped back in my eyelidsIt's apparent that my parents weren't parents at allThat's why I blew out my brains and murdered you allI don't wanna go to school.. I don't need no educationI don't wanna be like you.. I don't wanna save the nationI just wanna live my life.. everyday a celebration
Stick To-It-Ive-NessLRC歌词
[ti:]Revelation
[al:]Devil's Night
[00:14.96]I don't wanna go to school.. I don't need no education
[00:20.03]I don't wanna be like you.. I don't wanna save the nation
[00:25.06]I just wanna live my life.. everyday a celebration
[00:30.17]One day I'ma leave this world.. I'm waitin for the revelation
[00:35.25]I wanna kill myself! I'm still debatin
[00:38.05]In front of a baptist church, masturbatin
[00:39.52]Prayin to Satan - think I'm crazy cause I smoke crack
[00:42.92]live on beat with the mack in a two-family flat(Fuck it)
[00:45.60]Tired of gettin hit in the face with a broom
[00:47.92]My moms on her period, my dad's in my room (Daddy no!)
[00:50.67]I got ten rocks and I need to get out
[00:52.74]I sold 'em in five minutes, in my own damn house (Mom smokes crack)
[00:56.03]My poor grandmother, God bless her soul
[00:58.22]The bitch got AIDS (aww) she just waitin to die of a cold (hahaha)
[01:00.94]There's three things that keep me from bein a Nazi
[01:03.38]I'm black, a fag, and my dad's Liberace
[01:05.76]No matter how bad the beatin, I went to school cheatin
[01:08.44]My dad whooped my ass at a PTA meetin
[01:11.28]Stick with school I had to have nuts just to do it
[01:13.43]Got bored and became truant
[01:15.29]When I had the gall to go I just couldn't do it
[01:17.97]I was lured into corners by the peer pressure shit
[01:20.53]How would you feel if you was held by the tip of a barrel
[01:23.29]Gettin threatened to get your skin ripped to bone marrow
[01:26.13]Bet suburban kids never got rushed for their apparel
[01:28.85]like me, outcast, last in class
[01:31.12]First to leave, when the teacher called on me
[01:33.94]Best believe I had somethin up my sleeve
[01:36.29]I've been praised and labelled as crazed
[01:38.28]My mother was unable to raise me, full of crazy rage
[01:41.24]An angry teenager, nothin can change me back
[01:43.85]Gangsta rap made me act like a maniac
[01:46.41]I was boostin, so influenced by music I used it
[01:49.17]as an excuse to do shit, ooh I was stupid
[01:51.89]No one can tell me nothin hip-hop overwhelmed me
[01:54.36]to the point where it had me in a whole 'nother realm
[01:56.84]It was like isolatin myself was healthy
[01:59.11]It felt like we was on welfare but wealthy
[02:01.66]Compelled me to excel when school it failed me
[02:04.50]Expelled me and when the principal would tell me
[02:07.02]I was nothin, and I wouldn't amount to shit
[02:09.37]I made my first million and counted it
[02:11.89]Now look at, a fuckin drop-out that quits
[02:14.37]Stupid as shit, rich as fuck, and proud of it
[02:17.08]That's why
[02:17.40]I don't wanna go to school.. I don't need no education
[02:22.51]I don't wanna be like you.. I don't wanna save the nation
[02:27.42]I just wanna live my life.. everyday a celebration
[02:32.91]One day I'ma leave this world.. I'm waitin for the revelation
[02:37.58]I was raised with a rifle and mask
[02:39.68]Steadily beatin my psychiatrist ass just for askin about my past
[02:42.73](bitch) I was nev fuckin around
[02:45.20]can get yo' belove abducted, smothered in blood quick
[02:47.80]You couldn't pay Swift to give a fuck
[02:49.66]Was crazy like my father, it musta been poison in that nigga's nut
[02:53.16]Far as probation, fuck peein in cups
[02:55.51]I violate at any time, let 'em see the blunt
[02:57.99]I grew up steadily masturbatin inside of cells
[03:00.38]Young as hell, havin conversations with myself
[03:03.02]You could tell I wasn't lenient, a disobedient
[03:05.53]Lynched and slapped teachers, bitch I'm not readin it
[03:08.45]You don't know what dawgs go through, a little nigga
[03:10.96]Sippin liquor with my old dude, what the fuck you gon' do?
[03:13.64]I'm quick to curse you, I told my mother that I'ma hurt you
[03:16.76]if you ever again mention a curfew
[03:18.11]Look, my family ignored me and I don't like that
[03:20.91]They don't even listen when I tell them I'll be right back
[03:23.55](Yeah whatever) This nice beautiful house ma, it don't mean shit
[03:26.02]Cause you know daddy's a drunk and he don't clean shit
[03:28.62]And yesterday he hit me like a grown fuckin man
[03:31.10]I couldn't stand up to him, I just ducked and ran
[03:33.89]I'm sick of this, I wish on Christmas
[03:36.33]that I can get a loaded four-fifth and put a fuckin end to this
[03:38.64](Fuck it) I got no friends and I can't get a bitch
[03:41.60]Only thing I have is dirty magazines and sticky fingertips
[03:44.20]Nothin to smile about, I'm about to lose my mind
[03:47.08]Got me an automatic nine, now I'm ballin out
[03:49.36]Wait 'til school's over, pu-pil are people to shoot through
[03:52.12]Kids goin cuckoo, with a two-two
[03:54.41]Since my friend is this new dude, in this high school
[03:56.92]Losin his noodle learn that people don't like you
[03:59.43]The football jocks is, spittin on him
[04:01.95]Popular kids in school is now pickin on him
[04:04.54]Burn out youngsta niggaz now hittin on him
[04:06.94]And his teacher in his english class keep flippin on him
[04:09.41]And now he's grounded with no allowances
[04:11.85]for drinkin forty ounces, cause he was caught by his counselors
[04:15.17]And why the fuck I gotta ride the bench coach?
[04:17.20]Already got expelled for wearin a trenchcoat
[04:19.67]All I ever seen is.. {violence, violence}
[04:22.88]Told me to keep silent, stepped back in my eyelids
[04:25.35]It's apparent that my parents weren't parents at all
[04:27.91]That's why I blew out my brains and murdered you all
[04:30.15]I don't wanna go to school.. I don't need no education
[04:35.27]I don't wanna be like you.. I don't wanna save the nation
[04:40.38]I just wanna live my life.. everyday a celebration
[04:45.49]One day I'ma leave this world.. I'm waitin for the revelation
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