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Charlotte Property Management Blog

Promissory or Predatory


Sherkica Miller-McIntyre - Wednesday, June 29, 2016

If you’ve been thinking about your long-term goals, financial and those requiring finances to reach, then the state of your credit has hopefully been on the forefront. This is especially the case if your credit is not exactly stellar. The world would have you believe that you can’t do anything if you don’t have good credit. Well…it’s kinda true. You can buy a pizza but outside of insignificant purchases, it may not be impossible but you definitely aren’t making it easier on yourself. There’s always going to be some institution that will work with you. Furniture stores, car dealers, and credit card companies. And, while some of them are truly desiring to help you build your credit by starting you with a small limit, others are tantamount to the predatory lenders that caused so many naïve and desperate buyers to lose their homes to foreclosure, before the government stepped in.

You don’t see it as much anymore, but there are businesses that offer “clean credit” for $X99. Now, it sounds too good to be true, but desperation and exasperation at being stuck in your situation, may lead you to believe the unbelievable. STOP right there! Fight the urge, we beg you. There may be some simple things that this type of company can do. However, many of those simple things are things that you can do. For example, getting your credit report and reviewing for errors. Um, you can do that. Another thing they often incorporate into their services is disputing the errors that are found. Um, you can do that, too. And, before you know it, Bob’s your uncle, they’ve fixed your credit! No, dear, they didn’t. What they’ve done is taken advantage of your vulnerability and charged you a sometimes exorbitant charge for simple tasks that, had you known, you could’ve done yourself. Well, now you know.

There’s really no such thing as a quick “credit fix”. You can repair and rebuild but it takes work. There are honest, reputable persons and companies that actually do help. They do so by doing just what this article aims, to give you information and tools that are proven to help. A true intention to help repair, rebuild, restore comes with schedules, facts, resources and tools. Anything less is more of a predatory offer and less promissory.

There’s nothing wrong with employing the services of a person or business that offers to help those in your situation. However, make sure they can outline a plan of attack and not just give, collect and run off with some arbitrary fee leaving you worse off than when you started. A likely resource will be someone that can: show you how they’ve helped others (real people), give you tools that you use to work on your credit, and does not make farfetched promises like an increased credit score by simply paying them a fee! Goals are reached by making smart decisions. Are you ready?