At first glance Michael Gregory seems like a normal teenager. He loves a good milk shake and spending time with his family and friends. But what makes the recent high school graduate stand out is the fact that he has helped a few hundred people secure millions of dollars in lines of credit – most before he was even legally able to drive a car.
Michael, from St. Louis, is quickly becoming the ‘go to guy’ for credit repair. Just months after graduating from McCluer North High School, the 18-year old opened the doors of his own business, Gregory Jacobs Credit Repair Services. His office is in the heart of downtown Clayton, Missouri, the St. Louis region’s premier business district and home to several Forbes and Fortune 500 headquarters and branch offices.
Delores Henry, the teen’s grandmother, was his first client back in 2015. After watching his grandmother’s frustration over mounting bills and credit issues, young Michael asked her permission to call and write her creditors.
“My Grandmother’s credit was in bad shape before my help. Her Fico score was around 590. She had a few derogatory items on her report,” recalls the teen. However young Michael’s teen spirit and ultimate determination to see his grandmother free from troubling phone calls from her creditors led him to become her advocate.
“I reached out to everyone my grandmother owed and worked out payment arrangements and was successful in having many items removed from her credit report. Before long, my grandmother’s score began to rise, negative items were removed, and she was offered new lines of credit.”
Word of Michael’s success with his grandmother traveled quickly. Other family and friends sought his credit repair expertise for themselves. From his parent’s kitchen, Michael worked to remove late pays, collections, charge-offs, repo’s, short sales, foreclosures, tax liens, judgments and bankruptcies from their credit reports. He even helped a neighbor to secure a $100,000.00 home mortgage loan.
A couple who had prepared taxes for Michael’s mother learned of his work and offered him a job doing book keeping in their office. The teen worked for the couple and provided freelance credit repair services all through high school.
Being an entrepreneur was always a goal for Michael, but he waited until he turned 18 to strike out in business for himself. He says, “Although many odds were stacked against me when I first wanted to open my own credit repair business, I persevered, read and I studied. The same determination I had to fix my grandmother’s credit as a 15-year-old, was the same determination I used to acquire an office in a building with Fortune 500 companies as neighbors.”
According to the Consumer Financial Protection Bureau, over 73 million people have negative information on their credit reports. Michael Gregory remembers how terrible his Grandmother felt when she was denied loans and forced to pay high interest rates and fees because of her low credit scores. Because of this, the teen is passionate about helping others that are suffering.