*I kid you not with that headline. He also got them permanent housing. And today, one of them has a successful gardening business; and the other is married and working.
Talk about realizing your purpose and moving forward with it.
Corey P. Smith is a proud southern man on a mission. While some folks will do everything they can to keep you away from knowledge that will empower you, Smith does the exact opposite. He wants you to know what he has learned: that bad credit is by design. And if you know about “The Conspiracy of Credit,” which also happens to be the name of his latest book, and follow up by doing the work, you will no longer be a victim of it.
Smith, a husband and father, knew he was on the right track when the FBI showed up at his front door.
In an exclusive interview with EURThisNthat, Smith recalls the night he woke up in a cold sweat. He was living in an apartment, sleeping on the floor with his wife and now eldest daughter. He knew the only way to change their situation was to change their credit situation. “I told my wife, let’s let the apartment go and move in with my mother or your grandmother. I said give me 24 months and I’ll give you the world.”
Well it took less than two years for Smith to keep his word to his wife.
“She followed me. She supported me. And in less than 24 months we were buying our first home — which was like a 4200 square-foot home in a suburb of Memphis.
Smith says it was the purchase of this home that showed him first of all, the power of credit, and what people can actually do if they know how to leverage debt.
“And eventually remove yourself from it. So that you are not so dependent upon it,” he adds.
Now here’s where life purpose came in for Corey; who actually quit his long-term substitute teaching position at a high school and made learning everything about credit his full-time job.
“Everyday I was on the phone with the credit bureaus, basically stealing information from them. And what I mean by that is I had to ask the right questions to get certain information that they otherwise wouldn’t give me.”
Smith also did a lot of research on his own and connected the dots.
Once he got the grasp of things, he used what he had learned to clean up his own credit and that of the people in his immediate circle.
“And that led me to publish my first book, which was, ‘How To Outsmart the Credit Bureaus.’ That was in 2005. That’s when the Feds came in. I got a visit from them after I released the book.”
Note: “How To Outsmart The Credit Bureaus” a paperback authored by Credo Company LLC, under which Smith was affiliated, is being revised and it will reissue later this year.
Smith says the FBI subpoena’d both him and his wife before a Grand Jury.
When asked why they would do such a thing, he said.
“My first book was a real radical one. I didn’t hold any punches. I was telling people how to use all of these different tactics. Some of them I was like, ‘I don’t advise it, but I just kind of explained to them, ‘How you could remove a house, how you can remove a car…or whatever, from your credit report.'”
He was called a ‘paper terrorist’ by his postman, who claimed he was teaching people how to under-mind the financial institutions.
Smith says the FBI told his attorney that he had borrowed $2.4M from the banks fraudulently.
While he did actually borrow the $2.4 million, its the “fraudulent” part that they had wrong.
In his new book, “Conspiracy of Credit,” Smith does share the details of how this story played out. But the story began with what a less insightful person would have seen as an innocent meeting.
“I told my wife, ‘either this guy is a clown, or he’s a Fed,'” Smith said when someone who was referred to him for credit repair approached. As it turns out, his wife had befriended someone who eventually turned on them, and in an attempt to ensnare the Smith family, began working with TransUnion to bring them down.
This is how the Feds came into the picture.
Smith says although the road to where he is now has been rough, he wouldn’t trade it for anything. It has brought him such an incredibly valuable sense of knowledge; and has given him the means to empower the people he calls the “working poor.”
Although he still resides in Memphis, he is currently in Los Angeles filming his documentary, “Credit is for Poor People.” Scroll down to see excerpts from the film.
“People don’t understand that as far as your credit score, it’s all by design. Believe it or not the credit bureaus and the banks, it’s all algorithms, they know at some point you are bound because most people do not have the information or the tools they need to combat certain things…and fight them and win in the process.”
We asked Corey if he still speaks with the two formerly homeless men he mentored a few years back. The men he helped to raise their credit score to near-perfect, and secure housing for.
“One of them I speak to pretty regularly. He still has his lawn business,” he says with a smile in his voice. “He got a $10,000 loan…where he was able to get all of his equipment and buy a truck,” he said. By this time I am so excited on what is a telephone interview, I am talking all over him!
Corey says the man has had the business for a few years now, and actually has three employees.
When asked about his approach to the men when he first met them, and if they were suspicious of him, Smith said there were a few things he had to establish before he decided to take the men on. First, he had to see where their head was. “I had to see whether they were on drugs or not. I knew I couldn’t deal with that.” And then he asked them questions such as “Do you know what Equifax is?” and “How did you end up here?”
Smith admits it was easier to get them a great credit score; mainly because on paper, at least, they didn’t even exist (I.e. no social security numbers, no bad credit, nothing.)
“And within a matter of 30 days or less, they already had a 700 credit score.”
It was from that point that Corey says he began to build a credit file on each man: making sure they had employment information, a steady residence, and correct phone numbers.
And as for the other homeless man he assisted,
“He got married and is now working at a steady job!”
There is no doubt how proud Smith is of the two men whose life he helped change.
“When I see them its hard to believe that when I met them at the Exxon station [in Memphis] they were really homeless. Begging for money, you know. Just to see the transformation…” his voice trails off with emotion.
Out of the blue, Smith will get praise from strangers who have seen one of his appearances, heard him on radio, or purchased his books. Like the woman from Florida who texted him on the morning of our interview and said, “You changed my life!”
“And it wasn’t anything that I did for her,” the humble Smith says with that hard-to-ignore southern drawl. “She heard an interview that I did on one of the YouTube shows that come on and she said she was just inspired and she used my information.”
Smith says it is exactly things like this that motivates him and feeds his passion. “The book is so different than anything you will ever read on credit…I talk about why people shouldn’t pay collection agencies. I show in the book how I defeated one of the strongest collection agencies in the country just by the documentation I presented to them…using affidavits, using agencies like the Better Business Bureau, the Consumer Financial Protect Bureau, the Consumer Affairs Bureau, in the state that I live in. Because people are bullied by collection agencies. They don’t even realize you don’t even have to pay them. They have no grounds. They buy paper.”
Smith recalls the old cliché, Knowledge is Power, and responds to it this way: “I always say knowledge has its greatest power when it remains a secret. And that’s the problem. The knowledge that people need, that can truly help them, it’s a secret. And the people that have it don’t want to share it.”
The book even talks about how the IRS is connected to the credit industry.
Did you know that by law, if you settle credit card debt for less than $600 of what you owe, you have to pay taxes on it because the IRS looks at this as earned income.
“So now you’re paying taxes on credit!” Smith admonishes.
“Conspiracy of Credit” is a must-read! And it’s a quick read at only 129 pages. But don’t take my word for it, just look at all of the great online reviews on Amazon from people who have read it.
And get this: it retails for only $12.13.
Great info. Even greater price! Change your financial life for the better starting now!
And keep an eye out for Cory’s interview with Dr. Boyce Watkins, which will be recorded on August 27th and will air soon thereafter.
Watch two Conspiracy of Credit videos below which are trailers for the upcoming Corey P. Smith documentary, “Credit is for Poor People.”
In this first video Smith says the educational system he was brought up in didn’t provide the necessary survival tools.
In this next video, Smith talks about people being beholden to “Fear.”