Credit After Bankruptcy [Hardcover]

Stephen Snyder (Author)

Product Details

• Hardcover: 232 pages
• Publisher: Bellwether Publications; 22 Updated edition (March 31, 2007)
• Language: English
• ISBN-10: 1891945106
• ISBN-13: 978-1891945106
• Product Dimensions: 9.1 x 6.2 x 1 inches
• Shipping Weight: 1.1 pounds
• Average Customer Review: 4.3 out of 5 stars  See all reviews (174 customer reviews)
• Amazon Best Sellers Rank: #2,300,255 in Books (See Top 100 in Books)

More About the Author

Discover books, learn about writers, read author blogs, and more.

Customer Reviews

Most Helpful Customer Reviews

267 of 276 people found the following review helpful:

3.0 out of 5 stars Trying to be objective, October 15, 2002

By 

GAD (Seattle, WA) - See all my reviews
(REAL NAME)   

This review is from: Credit After Bankruptcy: A Step-By-Step Action Plan to Quick and Lasting Recovery after Personal Bankruptcy (Hardcover)

After my husband & I filed bankruptcy a few months ago, we received an "invitation" to Snyder's free seminar, promising information on avoiding predatory lenders, improving credit scores, etc. I RSVP'd for both of us to attend the seminar, then came to Amazon to check out the book (also mentioned in the seminar flyer) I read every review and frankly was astounded by the sheer emotion of the reviews! People either love this guy. Or they hate him.

So I was intrigued. Having earned my living analyzing and teaching literature (until massive illness kept me from working for several years--thus our bankruptcy), I thought this would be an interesting project. I reviewed most of the post-bankruptcy books in the Seattle Library System. And I read this book, which does have the notorious "Church" chapter that advises getting in touch with God, going to church, and giving a larger chunk of money than most of us can afford to your church.

Having read this, I admit, I was also was pretty worried that the seminar would be a "Come to Jesus" convention, in which my husband and I had absolutely no interest. But my husband is a good sport; so we went anyhow. (We sat by a door, just in case we decided to leave) To be on the safe side, I read the whole book BEFORE attending the seminar, so that my views of the book weren't affected by the seminar (good or bad).

I realize that unlike many books, Snyder's is difficult to review without discussing the seminar that accompanies it for many readers.

Here's my analysis:
1. The book, standing alone, is good. It's not great. It's not bad.

Snyder simplified assertions (like never using "bancs" with a "c," only banks with a "k,") seem pretty ridiculous on the surface. His underlying idea, try to stay away from finance companies, and try to borrow only from mainstream lenders, is sound. "Bank vs. banc" is simple and easy to remember. But there are certainly numerous exceptions. Clever, but not great writing.

Most of us know, by now, that we'll probably need to get secured credit cards, but Snyder's list of questions to ask before you even fill out an application is useful. If your new Visa is reported to the credit bureaus as "secured," that's kind of defeating the whole point. This book contains numerous tidbits of information that, if you're new to this credit-rebuilding game, could be beneficial.

Yes, as several prior reviewers have said, most of the information in Snyder's book can be found for free if you take the time to research the Internet or your local public library. And if you're one of those people who likes to surf around and spend hours reading your monitor, then yeah, none of the bankruptcy books are going to tell you anything new. But many of us are busy, and perhaps, honestly, with a bit of soul-searching, some of us might admit to having been a bit sloppy with our finances. Printing up a ton of Internet webpages seems like a great idea at the time, but will you really read them, organize and refer to them in the future? Maybe a bound book (this or another like it) that you can keep on your desk or nightstand to refer to, isn't such a bad idea.

2. The book, if you've attended the seminar, is great to supplement the seminar, as a refresher (to read a few weeks/months after the seminar) and as a resource guide.

Coordinated with the book, Snyder's seminar is quite good. He provides information that is not in his book (2nd edition in the works?). Yes, he has a "Church Speech" (which lasted about 5-7 minutes). He even provided an 800 number for a non-denominational national Bible study group. I thought that was a bit much. But included in the Church Speech were two points that I thought were valid 1. Forgive yourself. You declared bankruptcy. It's not the end of the world. You're not a bad person. Forgive yourself. 2. Learn to give some money away. It doesn't have to be to a church. Choose a charity. Any charity. Good things come back to those who give.

Snyder himself is a dynamic speaker, although he can be smug (his references to his personal banker reveals that his book/seminar circuit is million-dollar venture, only 9 years after his own bankruptcy.) The seminar also included local lenders and experts who have programs specifically for those who have filed for bankruptcy (These "sponsors" pay for the seminar, so that it's free to attendees, including parking). The lenders seemed helpful but not pushy. If you buy the book, you can mail in a request for lender information, even if you have not attended a seminar.

Even my husband thought the seminar was worth four hours of a Saturday morning.

Conclusion: Snyder isn't the Savior some of the other reviewers think/profess he is. Nor does he deserve the venom from some of the others. It's a decent book. Skip the Church chapter if you're so inclined (and the church paragraphs which pop up here & there).

I couldn't find any excellent books on life after bankruptcy. This about as good a book as you'll get on the topic, for now. As our numbers grow (unfortunately), there will be more (hopefully better) books published on the topic. And it's clear that Snyder's making a lucrative career out of advising the BK crowd, and is establishing connections along the way. I wouldn't be surprised if he writes another book, or cuts a 2nd edition of this one soon. In the interim, this one is pretty good...

31 of 31 people found the following review helpful:

5.0 out of 5 stars Great tips for recovering your financial health, December 17, 2002

By 

Brian (Washington DC) - See all my reviews

This review is from: Credit After Bankruptcy: A Step-By-Step Action Plan to Quick and Lasting Recovery after Personal Bankruptcy (Hardcover)

I'm a mortgage loan officer, and I recommend Mr. Snyder's book to my customers who DON'T qualify for loans because it's the on ramp for the fast lane to good credit.

You need to have, use, and maintain credit to build wealth. Unfortunately, re-establishing credit after a bankruptcy filing is easy, but doing it the right way isn't. Mr. Snyder's advice and explanations about the credit system, secured credit cards, installment loans, types of revolving accounts to avoid, etc are all dead on target. This book explains the pitfalls, loan sharks and sleazeballs who try to take advantage of people at the end of their rope. If you filed bankruptcy, this is the book for you. Other books on this topic, like Ms. Langguth-Ryan's, actually advise you to things that are detrimental to an improved score.

As for the religious section that another reviewer complained about: It's short. I'm a catholic, and the Christian fundamentalist bible study Mr. Snyder recommends would make me uncomfortable. But I do think he has every right to suggest that morality has a role to play in building your fortune, and to tell you that learning ethical and moral standards through his faith tradition was a part of his financial recovery. You can take it or leave it, or do what I did and adjust it to meet your personal beliefs. Most people end up in bankruptcy (not all, most) because they made poor financial and life decisions. If Mr. Snyder didn't share how he changed his financial situation by changing his life habits, he'd be dishonest.

Get the book. And don't waste your time with others.

34 of 37 people found the following review helpful:

5.0 out of 5 stars If you want good credit again soon, this is the book for you, May 23, 2005

By 

seaside dreamer (California) - See all my reviews

This review is from: Credit After Bankruptcy: A Step-By-Step Action Plan to Quick and Lasting Recovery after Personal Bankruptcy (Hardcover)

Our Chapter 7 discharged in Oct. 2002. We got an informational mailing regarding the credit after bankruptcy seminar but couldn't attend so I bought the book. Best $30 I ever spent. I immediately applied for a First Premier Bank Credit card (which shows as unsecured on your credit report), never missed a payment and kept my balance low. Then applied for a small $1500 auto loan at my credit union,with a co-signer. In the summer of 2003 we went to Ford Dealership and bought our first brand new car 2003 Ford Focus! In December 2003 we purchased our first home! In 2004 I bought a 1999 Mustang Convertable. Since then we have also opened two other credit card accounts. Orchard Bank is a good one. The book gives you great information and resources to turn a bad situation into a good one. Although I did not get to lease a vehicle through Ford and had a higher interest rate than what the book said I would get, I was still by far extremely happy because I would have never gotten as far as I did without it! And the breif time he talks about God, well, I thought that was a blessing and has a good message. Of course I believe in God. And if you don't, get over it. The world doesn't revolve around you. (Not to be rude but...) Point made. It's a great book. For those of us imperfect people who have totally screwed up our finances and would like a second chance to prove that we can get it right this book offers sound advice. I confess I have strayed from it a bit and tried to apply for too many in too short a period and it lowered my credit score and caused me more harm, so beware...take it slow and in two years you can be back on track, in a new home, in a new car, just follow the great advice that is offered. You'll be glad you did!
We are now looking to by an investment property (2 1/2 years after our chapter 7 bk)! I am greatful to Stephen for writing the book! And if he is making bank, more power to him. He certainly did me a service. He should be paid for it.