Why CMI Was Formed:

Credit scoring is a fairly new phenomenon, which has only been highly utilized in the last few decades. Before the use of credit scoring, lenders used less objective forms of determining credit that were not always the same and not always fair. A lender could decide that they didn't’t like a certain ethnic, social or professional aspect of an applicant and unilaterally deny the loan. The concept of credit scoring was developed to create a standard that all financial institutions and lenders could follow to level the playing field, so to speak, among those seeking credit or money. Lenders could now point to a score as opposed to making a personality or profile determination. What was intended to make credit decisions fairer and more objective has now become arguably the opposite. At very least, CMI feels that credit scoring is flawed and that certain individuals are punished over other individuals who are in actuality more credit worthy.

One of the founders of CMI had owned a multi-million dollar business for over 15 years, employed up to 90 people, and carried a huge responsibility for the livelihood of these employees and the viability of his company. His credit score, however, was lower than most of his employees’. There where plenty of legitimate reasons why the employer had bad credit, for instance he kept high balances on his credit cards during cash flow crunches so that payroll wouldn't’t be interrupted among his employees. But in the eyes of the credit scorers, the employer was a higher credit risk than his employees. His employees could get a better deal on a car loan or home loan. How could this scenario be fair? Wasn't’t the employer being above and beyond financially responsible in this regard? It all has to do with the way the 3 major credit bureaus formulate “good credit”. And this formula is severely disadvantageous to small business owners. As the Founder’s credit score understanding grew, so also did his desire to bring similar awareness to the multitudes of small business owners nationwide. Thus, Credit Management Inc. was created and CMI will continue to educate the market on how to win the credit scoring game and benefit thereby.

Who CMI is not:

CMI is not a debt consolidator or debt counselor. We are often confused as such among people who are seeking a service to eliminate their high interest rate credit cards, etc. Debt consolidators offer to pay off high interest loans and/or consolidate high interest debt into one lower interest loan. This is also a valuable service and debt consolidators charge for their services. But it is a service in which CMI is not presently engaged.
CMI is also not a Credit Bureau. People often call us seeking to remove a “derogatory” or erroneous bad credit notation that some entity submitted to their credit report. We do not provide this service and we can only control that which we report to the credit bureaus ourselves, which is only the good standing of our subscribers.
CMI is solely an information source, which seeks to unveil the secrets and lesser-known details of credit scoring and its implications to our subscriber base. CMI wants you to know how the credit scorers work because thousands of dollars per year may be riding on the line if you are unaware.