Pros And Cons Of West Indians Crediting System

West Indians came up with a crediting system called “sue-sue” or box money. This helped close friends and family to save money by avoiding high interest rates. It helped legalizing foreigners by providing instant capital (once its their hand) to gain their green card via marriage or lawyer, purchase goods such as furniture or even a down payment on a house. This paper go into detail of pros and cons of this system called sue-sue.

This crediting system started in Brooklyn which happens to be the place majority migrants traveled and settled to after the Second World War West Indians and other races in general stick together; West Indians came up with the idea of rotating credit association. This unique crediting system is defined as an association

If you do not keep up with payments unlike commercial banks your credit score will not be affected. However your brand/ reputation will be damaged. If you happen to just leave and head back to the country word will spread about your name and how irresponsible, untrustworthy, and unreliable person you are. If those words reaches to your job and you’re looking for an advancement then keep praying and dreaming for that. Most of the times the organizers will be a bit aggressive and handle matters by causing a big scene quarrelling with you in your house or yard which can be embarrassing.

Box money is pretty much a small loan, the reason why migrants still to this day use this system is because they may not be eligible to open an account with a bank for a variety of reasons. One being that they have no social security number, they have a bad credit history or even if they don’t want to pay a high interest rate for a lump sum of money. They’d resort to joining a sue-sue because there are no background check just as long as you can make your payments on time then that’s all that matters. Depending on the organizer they may only charge you a fee of $10 and up per head that