Poor man's credit card offer

[Senior Citizen]

Just got the offer in the mail today .APR 9.9% .Account setup fee $29.00, Program fee $95.00, Annual Fee $48.00, Participation fee $72.00 annually (Will be billed at $6.00 per month) If you are assigned the minimum credit limit of $250.00 the available credit limit will be $72.00. These people are nuts.

[bkfiler]

i agree. you could use the paper to wipe your arse in the bathroom however.

might as well make good use of it

[Bronte]

I received that offer last week from First Premier. I shredded it. I have 20 days till discharge I hope to get a decent credit card offer in the next few months.

[vm3118]

i got my identical offer today

[poorme]

I also got that stinkin' FP offer - except mine was disguised as a very tempting "Last Chance - Final Offer" promotion....hahahahaha!!!! Guess that's why it came in a black envelope.

[StaciMM]

And they make a big deal about it being unsecured... That just means they take your money, and you don't ever get it back...

[pink_amulet]

Just got the offer in the mail today .APR 9.9% .Account setup fee $29.00, Program fee $95.00, Annual Fee $48.00, Participation fee $72.00 annually (Will be billed at $6.00 per month) If you are assigned the minimum credit limit of $250.00 the available credit limit will be $72.00. These people are nuts.

LOL let me guess....First Premeir bank?

We got that offer yesterday, and I shredded it!!

[bkfiler]

you are a cold, heartless.... girl

[jennga]

Yep, got that one as well, shredded it. What a pile of poooo. Yes you will get a better offer if you wait cuz you sure can't get a worse one! lol

[StaciMM]

I've gotten similar 'deals' from First Premier & Aspire. And from one called 'Tribute Card' that is probably FP or Aspire, but I didn't bother exploring to figure out who issued it. Got Tribute offers a couple of days in a row. Maybe they figure they'll keep sending them and wear you down.

[bilbo]

Yep, I got both the First Premier and Aspire within the last week--total crap. Got a $39/year 14.9% unsecured $300 limit from Orchard. It wil be a start.

I am actually saving all of the crap offers that I get. There is a law firm in Chicago that specializes in FDCPA & FRCA--they say some of the crap offers we get are in violation of FCRA. They will also look at companies that continue to contact us after filing BK for violations of FDCPA.

They will look at the offers for free and if they are actionable they will sue on a contigent basis. No cost to the consumer. If they win the consumer gets the $1000 per violation--they recuop their fees cause lawyer fees are paid by the violators(if the lawsuit is won).
I'm gonna save every crap offer I get and have them review it. lol I am not sure what all states they can practice in.

[bkfiler]

offering you credit is okay to do during the stay.

trying to collect on the credit you owe is a different matter.

i dont care what they told you its not gonna fly. dont get your hopes up on this or count on it.

[StaciMM]

I'm sure some of the things the 'offers' advertise is not right. Illegal may be another story! Like today, I got advertisements from 2 car dealerships. One came in a plain white envelope, no return address, marked 'official business' or something similar. The other said something about a $2500 unsecured credit visa/mastercard along w/ the car loan, yet no disclaimers, bank name, or anything. (My guess is that if there is a credit card involved, it is there to provide a downpayment so your loan looks better on paper.)

offering you credit is okay to do during the stay.

trying to collect on the credit you owe is a different matter.

i dont care what they told you its not gonna fly. dont get your hopes up on this or count on it.

[bilbo]

Well, I think they are actually mainly looking for predatory lenders that offer vague or illusionary credit offers There are requirements that must be met on any letter offering credit.

Here is part of their website...And I have seen posts on other boards from people who have actually used them--but mainly when they were trying to clean up credit and the collection agencies were violating.

Our practice focuses almost exclusively on Consumer Protection and Class Action Law . Edelman, Combs, Latturner & Goodwin, LLC has won many cases on behalf of consumers, and has helped define important consumer protection statutes, including the Illinois Consumer Fraud Act, the federal Truth in Lending Act, Home Ownership & Equity Protection Act, Fair Debt Collection Practices Act, Fair Credit Reporting Act, Equal Credit Opportunity Act, Fair Housing Act, Real Estate Settlement Procedures Act, Racketeer Influenced and Corrupt Organizations Act ("RICO"), Electronic Funds Transfer Act, and Credit Repair Organizations Act, among others.

Anyway, of course I am not counting on anything--if I did get anything within a year of filing I'd have to give it to the Trustee anyway! LOL

Just thought some might like to know that there ARE attorneys out there to help people who are victims of predatory lending.