To: Marie Re: The seminar once

Discussion in 'Credit Talk' started by Jim, Feb 21, 2001.

  1. Jim

    Jim Well-Known Member

    Well since we last posted today, I have read "Credit after Bankruptcy". I read it at the local Barnes and Noble bookstore located at South Coast Plaza here in S. CA. In case anyone else living in the area wants to read the book, it is back on the shelf upstairs in the business reference section.

    Marie, the book and I suspect the seminar is great for anyone right out of bankruptcy. Especially those whose have had a BK and don't know about the Credit Card Board here where we exchange ideas.

    I may attend the seminar as I want to find out more about the credit repair firm; I hope I got the name and web site correct. Shylock mentioned that a discount is available to seminar participants who sign up. Be aware that I remain satisfied with Junum but I have always felt that a law firm is going to be needed to remove the last remaining evidence of my BK. If indeed it can ever be removed.

    In regard to Ford credit, I agree with what the Snyders say about their positive experience with Ford when they purchased the Escort. But one additional question that the dealer will ask a BK customer is:

    Have you ever had a auto reposessed? I was asked and replied NO. I personally do not think that I would have gotten a $19,500 loan at 2.9% if I had a repo in my past. Also, the Snyders are pushing the Red Carpet lease because they were incorporated and obviously writing off the lease(s) on the 2 cars as I used to do. As I mentioned in another post, the lease program is a bad deal compared to how favorable purchasing a vehicle can be from Ford. But we can discuss the lease vs. buy decision some other time as it a complex subject.

    Just for your knowledge, when you lease a car worth $25,000 with nothing down; a $25,000 amount does not not show in your credit reports. The amount of the lease value shows. Typically, $6000-15,000 depending on the terms. the lease value is equal to the monthly payment times length of lease. A two year lease with a monthly payment of $200 will show as a $4800 lease value. I verified that because I used to lease Mercedes. 3 of the cars still show in my credit reports.

    Regarding credit cards, I think FCNB is fine. I haven't used them but Dogman gave them a great recommendation. But ORCHARD???. I still have their $89 special preapproved offer sitting at home.

    Anyway, the book was interesting reading and I am actually more likely to attend the seminar than I was previously. I also am very grateful for this board for all the info I get here.

    Let me know if you have any additional thoughts.

  2. Marie

    Marie Well-Known Member


    I thought FCNB was a bit expensive, but I'm not 1 month out of BK so my perspective is different. Same for Orchard (though I do have Household... same deal but I got my annual fee refunded in full so it's an ok deal w/no fee)

    From the book, I wrote down First of America Bank's credit builder program (the 200 dep = 1000) installment loan because I need more balance (my car is paid off long ago) so I have no car loan, no installments at all, all credit cards.

    I'm trying to search for this bank right now. I definitely really want their "contacts" although I want the pointers for a future mortgage in my name (though I think all the mortgage info is in the book).

    So if I can't make it out there and you guys can go.. I'd love a list of their contacts (obviously, not the local Ford dealer) :)

    Thanks again!
  3. ShyGuy

    ShyGuy Well-Known Member

    First of America credit builde


    I don't remember this from the book, but perhaps I have an older edition. If you or Jim find out more about this (perhaps at the seminar), please start a new topic on the board about it.

  4. ShyGuy

    ShyGuy Well-Known Member

    it's Bradley Ross

    Jim, the credit repair law firm associated with the After Bankruptcy Foundation is Bradley, Rose, Lenee, Joseph & Allen. The web site is
  5. ShyGuy

    ShyGuy Well-Known Member

    Jim, maybe you should go

    Though you probably know most of what Snyder will talk about, you just might enjoy the seminar if you have the time. Like I said, he is a good speaker, and there is always the chance will come across something you didn't know. Also, you might be able to inform about good credit unions in the area he can tell people about. He seems to be open to that sort of thing. (If you email him beforehand, he might even do some advance work with the CUs.) Again, I'm a little based because I was just a few months out of bankruptcy and I like this sort of thing.
  6. Marie

    Marie Well-Known Member

    RE: First of America credit bu

    I tried to look them up online... I only got a few branched (mostly in MI) and then later I found First on America Bank had been bought by NationalCity.

    Not even sure if it's the right bank.
    This was one of the questions I asked Snyder's assistant about but was flatly told "go to the seminar" (even when, I was told, I couldn't get an invitation)

    Kindof felt like the old... you can't get credit w/out already having good credit deal. Anyway, this is the one item I'm really interested about.
  7. Jim

    Jim Well-Known Member

    RE: Jim, maybe you should go

    Thanks for the help Shyguy. I was in a big hurry yesterday when I posted the wrong name of the credit repair firm. Also, I mistakenly referred to you as Shylock. LOL on me. Just so you know, over at the Bayhouse credit forum one of the main contributors calls himself "Shylock". I read Bayhouse every day and got the names interchanged.
  8. ShyGuy

    ShyGuy Well-Known Member

    RE: Jim, maybe you should go

    I didn't even notice the Shylock. I go to BayHouse regularly, too, so I've seen his postings there.

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