The firm has pledged $50,000 towards a scholarship fund. $5,000 scholarships will be awarded from this fund, twice per year for spring and fall semester. It will be available to United States students in accredited universities or colleges who maintain a good GPA. The award will be presented twice per year and will be based in part upon an essay describing what credit scores mean to the scholarship recipient and how they will use that credit score in the future and how they will maintain a good credit score moving forward.
We’re very pleased to present this scholarship award today. And we’re very pleased to have an opportunity to give back to our communities, to our state, and to our country that has given us an opportunity to do so well in this area of practice. It is, therefore, with great pleasure that I introduce Lexington Law Firm’s first five thousand dollar scholarship recipient so without further ado I’d like to introduce Mr. Ryan Running.
Credit Scores: The Ultimate Proof of Personal Responsibility By: Ryan Running
The term ‘credit score’ has an extremely negative connotation in U.S. society. People hear the phrase and cringe, thinking of credit horror stories, uneducated financial decisions, and doomed future plans. Though credit scores may seem a random indication of trustworthiness, I believe a credit score is a valuable tool for any lending agency and can be used as proof to demonstrate personal responsibility.
Through the use of credit scores, lenders have access to the information they need in order to make informed decisions about their clients. Those who treat a credit score as a nuisance have fewer options, higher interest rates, and may even be shut out altogether from lending agencies.
It’s no question that little three-digit figure holds massive power over my fiscal future. I refuse to allow poor financial decisions to restrain my future plans. I desire to approach a lender with confidence, knowing I will always receive the service I require.
My credit score is very important to me for multiple reasons. First, I work at Security Service Federal Credit Union, therefore, I understand exactly how important credit can be to a person. I have been working there for about nine months and I have learned a lot about how to take care of my money and how credit works. Some people believe that your credit score doesn’t matter and that you will not use it for much but, it means a lot if you ever want to buy a house, a car, get a loan, a line of credit, or even a credit card. Credit unions and banks usually are looking for scores that are five hundred and fifty through eight hundred. Your score and what shows up on your credit is what will make or break your chances of getting any kind of loan or credit card. Some of the things that show up on your credit are bills you owe, negative balances that you might have at another financial institution, and any credit cards or loans that you may have. In order to keep your score in the optimal range it is important to keep track of your credit, money, and bills. If you are not checking your credit annually you will never know if something shows up that you have already paid off or any errors that need to be fixed. Keeping a positive balance in your account and paying your bills on time, maintaining a good credit score will be easy.
A credit score to me is more than just a number. A credit score is a reflection of the quality of life you are going to have. Your credit score hugely affects almost every aspect of your life. Having a good credit score will at times decide what car you are going to drive, what house you are going to live in, and possibly what career you are going to have. A credit score can affect your career since some employers are now requesting credit scores, or even check a credit score when applying for a job. Your credit score is directly related to the quality of life you will have.