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From: jj@nrcvax.UUCP (Utah)
Newsgroups: net.invest,net.consumers
Subject: Re: "No Money Down" (Other People's Money) Scam
Message-ID: <460@nrcvax.UUCP>
Date: Fri, 3-Jan-86 11:08:53 EST
Article-I.D.: nrcvax.460
Posted: Fri Jan  3 11:08:53 1986
Date-Received: Sun, 5-Jan-86 02:12:41 EST
References: <587@cylixd.UUCP> <312@3comvax.UUCP> <1725@cbosgd.UUCP>
Reply-To: jj@nrcvax.UUCP (Jeff Jennings - NRC-Utah)
Organization: Network Research Research Corp.  Oxnard,CA
Lines: 26
Xref: watmath net.invest:989 net.consumers:3753


In article <1725@cbosgd.UUCP> mark@cbosgd.UUCP (Mark Horton) writes:
>that's worth?) Also, these credit checks take time - 2 months or so.

I have never had a credit check take more than a month.

>
>Some other inconsistencies: what about the cash advance charge?  When
>you get a cash advance, don't you have to pay 1.5% of the advance as
>an advance charge?  That adds up to $3000 in fees.  Then there are

This varies from bank to bank.  Some banks do not charge extra for a
cash advance.

Lest anyone think that I believe in this scam, let me say what I think of
it.  It may have worked for the promoter, and may even have worked for a
few others, but if too many people start trying it, the banks are going to
change their ways and a lot of people are going to get burned.  In the end
only the promoter makes money from the sales of all the courses.  My
philosophy on deals such as this is that if everybody else knows about it,
it probably is not a good deal any more.
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