Douglas L.
Pre-Approval HOAX
I was sent pre-approval in which they noted I am maxed on some cards. My plan was to use the loan to pay all the accounts and have a lower expenditure each month. They turned me down down, for the reason stated on the pre-approval..... Maxed cards....Does that make sense? Why send me the pre-approval if they where going to turn me down for something they all ready knew? Then they wanted me to sign up for "consolidation" where I let all my accounts go default and they work to negotiate a lower balance! I wanted to pay them off not go DEFAULT!!
Response from Smart Money CapitalAug 1, 2025
Thank you for sharing your concerns. We understand how confusing and frustrating this experience must have been. Our pre-approval process is based on an initial soft credit check that provides a general overview of credit status, but final loan approvals require a more detailed review—including updated account information and balances—which can sometimes lead to different outcomes. Regarding the consolidation program, we apologize if it felt like defaulting was the only option presented. Our goal is always to offer solutions tailored to each client’s unique situation. While some programs involve negotiating balances, we never want clients to feel pressured to default, especially if your intention is to pay your debts responsibly. We appreciate your feedback and would be happy to discuss alternative options that better align with your goals. Please feel free to reach out directly at [contact information] so we can assist you further. —The Smart Money Capital Team