It only took five years after I filed bankruptcy.

I had no credit for the next 30 years. I lived within my means. Funny thing is I was punished for not going into debt. My car insurance rates were higher because people with low credit score (mine was none existent) are obviously bad drivers. My likelihood of being hired for a good paying job was poor, because I must be untrustworthy because I had no credit. I was even less likely to be able to rent, even though I always paid my rent on time, because I had no credit.

Then a strange thing happened. One day I was ordering something on Amazon and they offered me free shipping if I would apply for a credit card. Well, I knew no fool would give me credit, but I was up for free shipping. So I applied for the card and got my free shipping. Two weeks later, I had a credit card. So I went to Amazon, made the credit card my preferred method of payment then went to the credit card site and setup automatic pay and forgot about it. I didn't even carry the credit card it sat in my drawer at home. I didn't buy much from Amazon, maybe three to four times a year, and never more than $50 at a time. Then about five years later, I turned 70 and started drawing Social Security. I was still working so all the SS went into savings. and a year after that I set my retirement day for age 72. I decided that I needed to have a newer, reliable car. So I went on a search for a good late model used car.

When I found it I was prepared to spend up to $8,000 cash on it. As they were doing up the paperwork for the car, the salesman informed me that they could finance the entire amount. I told him he must be mistaken. He turned his computer around and showed me my credit score. It was over 700. I paid cash for the car anyway. I'd gotten used to being debt free and wanted to stay that way. As I approached retirement I took a close look at my finances knowing I was about to be one of those on a fixed income. Looking at the way the rents were going up, I figured that two years after retirement I wouldn't be able to afford my rent.

So I started looking for some small place I could buy. Housing prices were right there with the rents in the town I lived in. So I started looking in the outlying areas. Even then it was still out of my price range. And then I happened on a small town which had had two devastating floods two years apart and the property values were low. It was a buyers market. I got a realtor and after about six month I found a three bedroom manufactured home (above the flood plain) on it's own land (1265 sq. ft.) with an asking price of $150,000. I'd been working with a lender who did a bang up job of figuring my monthly payment including property tax and insurance. I knew that $150K was just a bit out of my price range, but the realtor told me to make an offer. I offer $140K and three days later I my offer was accepted. Six weeks later I moved to a small town.

It used to be a lumber town, but the mill shut down in 1957. My grandmother ran a hotel here in the 40s and early 50s so I have family roots here. It's been great. Now, I have a credit rating of pushing 800. My current debt, aside from my mortgage is about $300. I bought my wife a new computer for Christmas and payed with "Amazon Pay" I've been knocking it down at $100 a month (started paying in December since I ordered in November) but, I've decided to wipe it out in February. If I'd have bought it any other time of year, I'd have paid it off with the first bill, but with five people to buy for at Christmas and two birthdays in the second week of January, I opted to use that credit.

Debt free is good.