Credit Score News, Tips & Advice
Website CertifiedPrivacy Protected

Creditors: The Worlds New Mafia

By Brian Anderson
Published: Friday, December 4th, 2009

Ever since I was little I had a small penchant for mafia movies, De Niro, Al Paccino, these people never seem to get old. Before the age of credit and credit score advice, we had the Mafia. They gave me and everyone else an idea of what mafia life was about; walking around gazebos and Venice inspired fountains on your front lawns and what mafia movie was not complete without that heavy Italian accent?   If you’ve ever watched any mafia movie, there are many things that come to mind; power, money, wealth, money and more money. It’s like a Cinderella rags to riches story, a story though that comes with a price.

In a Mafia movie, there’s always a deal to be made. Usually it goes with lending a person some cash to pay off something, but the thought of having so much cash is so hard to turn down that you just get and get, and the mafia willingly gives and gives. Until the time comes when this man has to pay up but cant so the mafia takes his life the people he loves away. If you were put in the same situation, would you take the money?

The truth is, many people would take that money regardless of consequences primarily because it seems too good an opportunity to pass. In this day and age, it’s not the mafia anymore following this trend of loans, but banks and credit card companies are doing this too. What’s worse is, what they are doing is legal.

Larry King said in one of his shows that credit card companies are doing the same thing the mafia has been doing for years but they’ve learned how to legalize it. And like the mafia, you can’t run from them because there is a system that keeps track of your debts called your credit score.  And here is a credit score advice for you; your credit score is like a bio data of debts that you have incurred during your whole life that is networked to a number of banks and credit card companies.

One good credit score advice is to think of banks and credit companies as you would the mafia. Would you borrow that much money if you knew it was the mafia? Especially if you knew that you couldn’t pay them back? I hope for your sake your answer is no.

Another credit score advice is on the off chance that you do have a loan, make sure to pay it back before the maturation date to avoid a drop in score. One credit score advice is to never loan from one to pay the debt of the other, that technique will just double your problems since most banks and credit companies are networked they will catch on to your scheme.

Apart from that, the best credit score advice I can tell you is that you should always treat loaned money as money that does not belong to you. If you sow the benefits, you will always reap the price.

No Comments

No comments yet.

RSS feed for comments on this post.

Sorry, the comment form is closed at this time.