I have written previously how CITIBANK’s deceitful practices and predatory lending techniques functioned to almost send me into bankruptcy in 2003-2006. However the purchase of Bear Stearns (including its valuable New York office building) in the midst of this Extreme Risk crisis is an example of a survivor (J P Morgan Chase) taking over a failing competitor based on ‘fire sale’ asset values; asset values were falling rapidly as inter-bank credit evaporated and banks frantically chased cash to meet margin calls and other obligations falling due.

Any credit repair service that promises instant results or that offers to simply create a new credit report for you should be avoided… what they’re really creating is a business tax identification number, and any individual who uses one is in danger of being charged with fraud and possibly other charges.

Most of all, I have 2 corporate entities to thank for this plight of mine in the world of banking, lending and credit: 1 the now defunct U.S. Credit Management of Irving, Texas and 2 Citigroup of South Dakota (or wherever in the world it wishes to seek out the best or worst corporate laws).

Now, if we want to see how the name U.S.” can become tainted within American borders quite easily through bad corporate greed and bad corporate management, let us look at the service company and credit negotiating company, now bankrupt, called U.S. Credit Management of Texas.

Credit Check happens only in SD module, never in FI. Because the stage of the check is in the sales cycle, which exists in SD. FI guys will check the credit master sheets of the customer, the MIS, the analysis etc, review the credit limits of customers.