SOURCE: Worth Unlimited

October 25, 2012 06:00 ET

Worth Unlimited: Debt a Common Problem Even Among the Financially Savvy

A New Report Finds That Even Americans With Positive Credit Scores Can Carry Significant Amounts of Debt -- a Finding That Has Won the Attention of Worth Unlimited

NEW YORK, NY--(Marketwire - Oct 25, 2012) - Any American who has ever sought to make a major purchase, or conduct a real estate transaction, is doubtless aware of his or her FICO credit score; this credit score is used by lenders to determine the kinds of loan an individual might quality for, and is based on the individual's personal financial history. The highest possible FICO score is 850, but the average American score is only a 690. A new Business Insider report notes that, surprisingly, even the Americans who have strong scores can still carry around a lot of debt -- a finding that has garnered the attention of Worth Unlimited.

Indeed, according to the new report, the common misconception might be that a perfect credit score means no debt, but the truth is that, among those with credit scores of 725 or higher, individuals carry, on average, seven credit cards. The key, according to the Business Insider article, is that they manage this debt smartly, never having debt spread across more than four credit cards or loans at a time.

There are other smart behaviors that these financially savvy consumers maintain, the article continues. One such behavior is keeping debt fairly minimal. Many of these individuals have less than $8,500 in debt, not counting home mortgages. Moreover, these individuals understand that punctuality is essential, and they make their monthly payments on time, more or less without exception.

These surprising findings have won the attention of Worth Unlimited, a company zealous for helping individuals unburden themselves from debt. Worth Unlimited has issued a new statement to the press, commenting on the study and its implications.

"On the one hand, this study shows just how easy it is, in this day and age, to accumulate debt," the company's press statement reads. "Even among those of us who are considered to be the most financially responsible and prudent, accruing debt is obviously something that can happen."

The company also affirms that, while debt may be a wide-reaching problem, financial freedom is very feasible, through proper money management. "At Worth Unlimited, our commitment is to giving people the tools they need to free themselves from debt and to chart their own courses toward financial prosperity," the press statement continues.

Worth Unlimited is best known for its Worth Account program, which allows individuals to map out certain financial goals and then allow the program to steer them toward successfully meeting those goals. Worth Unlimited touts this product as a sort of "financial GPS," providing easy personal financial management with minimal effort on the part of the user.

ABOUT:

Worth Unlimited is a company designed to help individuals reduce debt and maximize personal wealth, all through strategic and savvy online financial management strategies. The company developed its Worth Account system as an intuitive online platform, designed to help individuals stay on course financially. The Worth Account platform offers around-the-clock monitoring and analysis, allowing individuals to gain a comprehensive understanding of their own finances. Worth Unlimited is passionate for helping clients meet their financial goals.