How Can A Bad Credit Score Ruin A Relationship And How Can You Mend These Relationships?


By Jacob Coroner

Financial difficulties do not directly affect relationships but it does influence the way people perform in a relationship.

Relationship with lenders

This is the most obvious relationship that will be strained if you continuously incur bad credit. Lender-borrower relationship is a very sacred ad mutual relationship (especially if it is in prime lending). The lender is able to keep his business running because of borrower, and the latter is able to get by through the loans provided by lenders. Bad credit score ruins a relationship in the sense that the previous carefree relationship is now strained because of the bad credit factor. Instead of continuously making transactions with the same lender for an extended period of time, bad credit might make you ineligible to negotiate with that company again and this brings you to other lenders or probably to subprime lending institutions.

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Relationship with your family

When the breadwinner is having financial problems, his or her family members are the ones who first see the abrupt changes in his mood and disposition. The breadwinner may be aloof for quite some time until he has contemplated about the matter or found a solution for it. The husband or wife who works for the family is likely to concentrate on working and finding new ways to get more income. The usual result is lack of time for the family who might think they are being taken for granted.

Then again, if the situation is discussed with the members of the family they might feel equally stressed as the main provider is. Having bad credit score means taking careful financial decisions to avoid further damaging of the breadwinners credit portfolio. This translates to decreased instances of dining out, postponing family trips or the purchase of certain items (i.e. new laptop or car), and prohibiting extended use of appliances inside the houseall for the purpose of eliminating unnecessary expenses.

Relationship with yourself

This is not a way of telling people that you have a split personality. Rather, it only attests to the fact that relationships with other people are just as important as your relationship with yourself. A bad credit score ruins a relationship with yourself simple because, as a breadwinner, youll be blaming yourself for the financial difficulties that your family experiences. Bad credit scores signal that you are not wise enough I spending what you earn and that much thought must be given on where you spend the money. You might be guilty of committing several rounds of alcoholic drinks at least once a week. Or probably you are spending too much on your car or clothes. Once the realization sinks in, you become vulnerable to being blamed and gives you guilt all throughout the process until financial recovery arrives.

Indeed, bad credit scores ruins relationships. Besides these three that were listed down here, there are other relationships that might be jeopardized because of incurring bad credit. But remember that the bad credit is not the direct reason for the collapse of the relationship; it is only a factor. Therefore, once the credit scores go up again, youll find more time for your family, reconnect with your old loan provider, and reclaim the self worth you lost when you were not in control of the financial situation before.

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