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Credit experts say 8 out of 10 Americans are in debt

Source:KXXV Source:KXXV
HEWITT, TX (KXXV) -

When it comes to budgeting and credit, a lot of people don't know the best way to maintain or repair their scores.

But credit experts said seeking a consultant might be the best place to start.

According to National Debt Relief, 8 out of 10 Americans have some sort of debt. 43-year-old Catherine Martin said after receiving help, she purchased her first home, and now she’s on track to being financially independent.

Martin said she was in a car accident that caused her to get behind on bills and dropped her credit score to the red zone.

“My credit score it was like maybe 512, and I wanted to own a home. I didn't know how I was going to get the new home, I just always knew that I was going to get it, I didn't give up,” Martin said.  

That's when she called the E.S. Credit Doctor, Evelyn Seastrunk to help her fulfill her financial goals.

“The first place you want to start with is your credit scores, that's going to be the blueprint for us to guarantee to restore your buying power,” Seastrunk said.

Most people seeking information about their credit visit popular web sites like credit karma and free credit report dot com. But, those websites don't always give expert advice on how to efficiently repair the credit.

“Those are only credit monitoring sites; it's not going to help you restore your buying power. For people who want to build credit, the number one thing is do not be late. You must pay your bills on time, because one late payment can cause you a lifetime of misery " Seastrunk said.

Seastrunk also advised people not to over indulge on the amount of credit card accounts they open. Instead, she encourages people to only obtain credit cards tailored to their specific lifestyle.

“For example if you fly a lot, get a credit card that will give you points in frequent flyer miles. If you commute often get a credit card that will return your money in gas points,” Seastrunk said.

And when Martin had the chance to learn what it took to build her credit and buy her new home, she was overjoyed with the impact it had on her life.

"I wanted to give that money up because I owed, my life has forever changed for the better,” Martin said.

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