Dollar Bank Community Development Frequently Asked Questions

You may have a lot of questions about Credit Enhancement. Below are a few of the most commonly asked questions. Click a question to view the answer.


  1. How much does it cost to enroll in the Credit Enhancement Program?

    The program is free.

  2. May I bring a credit report received from another source?

    No, we will need a current credit report that provides the most complete picture of potential credit issues including public records, payment history and contact information for creditors.

  3. Do you offer classes on weekends?

    Yes, we can schedule classes to meet your availability.

  4. I have really bad credit. May I still enroll in the Credit Enhancement Program?

    Of course! 95% of the participants in the program have credit issues. One of the primary purposes of the program is to assist you in clearing up negative credit issues.

  5. What is discussed at the first class?

    We will discuss your credit report along with your total financial situation. We will also create a budget for you to start following.

  6. How long are the classes?

    Between 45 minutes and one hour.

  7. Where are the classes held?

    At the Dollar Bank corporate offices located in downtown Cleveland at the Tower at Erieview. We also hold classes at local Dollar Bank offices in the community.

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  8. I do not have a job right now. May I still enroll in the Credit
    Enhancement Program?

    Yes, with proof of a qualified source of income.

  9. I thought the program was called Mortgages for Mothers?

    Mortgages for Mothers is the name of Dollar Bank's yearly workshop presented to single parents encouraging homeownership. Credit Enhancement could be one of the programs a single parent would need to complete before obtaining a home.

  10. Is the Credit Enhancement Program just for mothers?

    No. The program is open to all individuals interested in learning more about cleaning up their credit.

  11. Is there a minimum household income to participate in the program?

    No

  12. What is considered income?

    Qualified income may include salary and wages, social security, supplemental security income, court mandated child support payments and pensions. Section 8 and housing voucher payments may also qualify.

  13. How long will the program take?

    Each situation is different and the time it takes to correct your credit issues depends upon your credit history, the financial resources you can commit to eliminating negative debt and saving for certain down payment costs.

  14. What am I reponsible for doing in-between meetings?

    You are responsible for contacting (through letters and phone calls) your creditors and for maintaining contact with your Dollar Bank credit counselor.

  15. What should I bring to each counseling session?

    Always bring a pen and notebook to take notes. A calendar will help you keep track of important dates and appointments. We suggest that you begin organizing your financial papers and bring copies of any specific documents when they are requested.

  16. Am I eligible for the $3,000 down payment and closing cost assistance grant without enrolling in the Credit Enhancement Program?

    No, these funds are only available to qualified families that have enrolled in the Credit Enhancement Program and successfully fulfilled its' requirements.

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