rule of life paragraph
...n, I was invited to attend a credit-counseling seminar. The seminar was designed to lecture on how to make wise financial decisions. Finally, I had to type a letter to explain why I have delinquent accounts. Growing up I always wanted a nice home, money in the bank, and a career. I could not wait until my eighteenth birthday, so I could make my own decisions. My parents always told me to pay my bills on time, so I could get anything I want. I never believed it to be true; in fact, I took what they said for granted. I finally realized last year what my parents meant. Last year I was driving and saw a house I liked, so I decided to call the realtor and apply for a home loan. Because I never purchased anything of true value, I was sure I would be approved. I never really understood how my debt ratio could affect my credit. The loan was denied, and I did understand why until I met with Sonja, my loan officer. She then told me there were a few things on my credit report I need to pay off prior to getting approved. First, I had to make payment arrangements on all accounts that were delinquent or past due. I even had to pay off the accounts that were several years old. Next, I had to pay off the small accounts reporting to the credit bureau. There was one account I ha...