Financial Resource

When the Banks Say “No”, They Say “Yes”

Did you know you are being targeted and cheated.

When I was growing up, my mother had a phrase she’d used for people doing something unethical and/or outrageous: “Oh, they showed out with that!” Let me stress here: Our financial institutions are surely “showing out!” Ignorance is not always blissful; it can get you deeper and deeper into debt. Here is why. . . ,

Most of our large financial systems operate like the outlaws of the wild, wild West. They operate outside of what we think is good and decent and moral. They practically have free reign to charge what they want to, when they want to and how they want to. They can fee you do death: wake up in the morning fee; go to bed at night fee; “are you still breathing?” fee. Well, that is an exaggeration, but they can make up a fee and charge you!

They reserve the right to change terms and interest rates after you have already made an agreement. (In my neighborhood that was called ‘renigging’. For those of you pretending that you have moved on and don’t remember that word, urbandictionary.com says that it means: to back out of a deal or promise. In our court system, that is called ‘breach of contract’. In a marriage that is spelled d-i-v-o-r-c-e!) They also have the right to constantly check your credit report to see: what else you are purchasing; to see if you are receiving any other credit or to see if you are paying your other bills on time!

Armed with this information, some of them are able to evoke universal default. What is that you ask? Universal default gives creditors the right to raise your interest rates based on what they think you “might” do in the future based on a late payment to some other institution. That’s right folks; they have their own version of the ‘crystal ball’? (They should also ask the crystal ball if you can afford all those ridiculous fees!)

Credit Score equals e=mc2?

By the way, do you know what your credit score is? Do you know how they calculate your score? Well, neither do I and probably not even the President. The credit score system was designed so that you could be treated fairly when being considered for credit. HOWEVER (and yes, it is a big HOWEVER), they use a “secret formula algorithm” to calculate your credit score. If it is a secret formula then how do you know for sure it is fair? Hummmm…, like momma says, “they showed out with that!”

In case you didn’t know, your credit score works in the favor of the financial institutions – not in your favor. While most financial institutions are looking out for numero uno, who is looking out for you? I can go on and on telling you some of the things that I have learned since I decided to get control of my finances but that would be a big book of lamenting.

There are alternatives:

Alternative loan systems are a common practice that is popular but is overly abused. Pay Day Loans are quick but expensive. And there is always the possibility of going to jail for a bad check if you have a difficult time paying back the check and fees. Title loans are convenient but risky! I am my own witness to that statement. Borrowing money from friends and families sometime causes division and conflict. And we are all witnesses to that. With this in mind, Grow My Money Club designed a system that we, the creators, wanted to be a part of. That means our system is easy, risk free, educational, effective and life changing. It will officially open on the internet on March 1, 2009 at growmymoneyclub.com.

Our Grow My Money Club (GMMC) system reflects a program designed by Habitat (UN Center for Human Settlements). It was used in Uganda to stimulate micro enterprise and community development. A few years ago Muhammad Yunus, “banker to the poor” won the Nobel Peace Prize for a similar program. This program is cooperative economics at its best and is successful and is many years old. It is designed to give the disadvantaged financial empowerment. That is also the purpose of GMMC.

Why Choose GMMC’s Program?

Our loan practices are transparent: that means that we don’t hide what we do in legal jargon, typed on thin paper with text so small that it almost takes a magnifying glass to read it. It is easy to understand and the requirements are simple and uncomplicated. Transparency is a major factor when cultivating trust between company and customer. Most financial institutions want to keep you confused.

We don’t charge a bunch of fees! One of the main reasons Americans are in the mess they are in is because of the fees that are charged for making late payments or going over the limits. Those things can be controlled by the financial institutions but these same institutions choose not to because they get more money for allowing you to mess yourself up.

We don’t charge interest! This is a private club and the loans are disbursed to qualified members through our Financial Aid program. Other institutions are already getting rich just by charging numerous fees but then they charge interest on top of all of that! (And you already know what momma says to that!) We are dedicated to helping our members get ahead and take precaution not impede their progress.

We don’t do credit checks: As we mentioned before, the credit score system is outrageous! You are represented by a number that doesn’t tell who you really are! It doesn’t tell that you are a decent single mother trying your best to make ends meet with two jobs. It doesn’t tell if you are recently divorced and you are stuck with all the bills. It doesn’t tell if you’re a good guy. It doesn’t tell much at all! And when people have bad scores, they pay more money in fees and higher interest rates but it is usually these people who can’t afford extra fees, who have less money but have to pay more. It’s outrageous! (Outrageous, I say!) If this is you, how do you ever get ahead? News flash – you’re not supposed to.

We educate: We don’t want you to be blind and dumb about what is being done with your money so we can extract more money from you. We want you to know what is going on! This is the advantage of being a member of the Grow My Money Club! We believe that you need to know about money and finances and take care of them as if it is an extension of yourself. When you are dealing with creditors and lenders, they only see numbers – not you, so take care of your numbers! Because of how our system operates, we see YOU not your credit score.

Our members advertise for us: We could created a company, hired agents and paid them to convince you to join our club but we chose a less expensive but more effective route – we chose you. As qualified members your voices are heard. We allow our members recruit for our club. When they reach their quota, they are allowed to participate in our loan program.

We practice cooperative economics: You’ve struggled by yourself. You don’t know how you’re going to make it through the month and you are sick and tired of being sick and tired. Join the club! We all work together as a team to achieve our goals to bridge the net worth gap between us and other more advantaged people. As our members recruit other members for membership we become a stronger organization. And just with the program designed for the Ugandan people, we take the resources and redistribute it while providing an education. In most cases, it is very difficult to get a loan from your own banking institution, even if you have been a customer for years!

Money back guarantee: GMMC guarantees that if you do our club program, meaning your follow the rules and guidelines, and you don’t receive your financial aid, we will refund you your processing fee. We don’t know of any other lending institutions that will refund you your processing fee! That is how confident we are that our system works!

In this day in time we have a couple of choices: we can continue to trust that our financial institutions to have our best interest at heart and continue to follow their lead or we can band together to do something different but better. We can take our financial future in our own hands; we can give them a wake up call and say “we understand the importance of your role in our society but you’re going to have to do better with your fees and practices because now I have options.”

When you take control of your financial future by getting education and positive funding you get a great sense of freedom. Then those shark institutions will have to say of you, “they showed out with that!”, as they are scrambling to win your business back! And like the commercial says, “When banks compete, you win!”

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