credit score | Enemy of Debt: Where Behavior Meets Reality

Your Credit Score — It’s Not a Measure of Financial Responsibilty

Written by Brad Chaffee on February 7, 2012 · 31 Comments

If I received a quarter for every time someone told me I “needed” a credit score I would be super rich right now. There are many myths surrounding the credit score and believe it or not, it’s the financial world itself that continues to spread these myths. Ask any educated finance graduate if you need a credit score and you’ll most likely hear a “default” answer of ABSOLUTELY. Ask them why you need a score and not only are you likely to get an evil eye roll, the next words out of their mouth will probably be…ARE YOU KIDDING ME? [...] Read more »

Tags: building credit, building debt, credit, credit score, credit score myths, Debt Elimination, Fico Score, getting a mortgage, i love debt score, manual underwriting

Do You Worship the “Not So Mighty” Credit Score?

Written by Brad Chaffee on June 15, 2011 · 10 Comments

When you were younger, do you remember hearing countless people advise you to “build your credit”? Those same voices were buzzing around in my head until I got a clue in 2007! “You’ve got to build your credit” they’d say, and the reason is usually based on the myth that says in order to be financially responsible you must build your score. I despise this myth most of all because from what I see, it has ruined more lives than it has helped. Think about it. 18 year old after 18 year old has inserted themselves into the murky waters [...] Read more »

Tags: bad credit, credit, credit myth, credit score, debt, Debt Elimination, financial responsibility, good credit, pay off debt

Hello and welcome to Enemy of Debt! I founded EOD in April of 2008 in an effort to motivate and inspire financial discipline by focusing on behavior and truth. By teaching personal responsibility, debt free principles, and the importance of planning people can learn how to take control of their finances one step at a time. I want to help! :) My journey to debt freedom and financial independence began in January of 2008. We became sick and tired of living paycheck to paycheck and were finally mad enough to take action. At that time, we did not have any savings, knew very little about budgeting and were buried under $26,076.75 of debt. In the first two months we were able to throw together our very first emergency fund ever of $2,000. It took us only 18 more months to eliminate the retched debt from our lives and I can proudly say we never plan to borrow another dime ever again, for any reason.Read more

Your Credit Score — It’s Not a Measure of Financial Responsibilty

Do You Worship the “Not So Mighty” Credit Score?

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