8 posts shown.
Bradley Wilson5 said:Most of you guys begging for cash are only in this spot because nobody wants to lend to you in the first place. Now suddenly you’re trying to set all these rules for how people should loan you money? If you don't have any collateral, then someone would basically have to lend to you out of pure charity...
Just offer something solid as security, pay your bills on time, and you won't have an issue....
You aren't asking someone to give you *your* own money. If you don't pay, that apartment becomes theirs... and honestly, who's going to stop them? You think you'll just pack up and walk away smoothly? Yeah, dream on....
Loans for the unemployed... look, if you're unemployed, I'm assuming you have zero income. If you have no income, where exactly do you plan on getting the money to pay back a loan?
Well, look at a perfect example from today: an elderly couple got totally fleeced because they signed a purchase agreement as a form of guarantee, allowing some guy to snag an apartment for $25,000. Should we be throwing him a parade just because they have to sue him now?
Rebecca Green7 said:And? Did you actually reach out to them?
I did. They’re offering to set you up with a Diners Club card, claiming you can then withdraw those credits through it. Personally, I have my doubts about being able to pull that much cash out immediately after the card even arrives.
Rebecca Green7 said:No. Every single one of those ads I've seen so far has been a total scam. The moment you ask for specifics or try to vet them, they just ghost you. They only want your social security number and some upfront "security deposit" or fee immediately. Avoid them at all costs.
Someone slid into my DMs recently offering private loans, but after that initial message, they went completely silent...🤷
Yes, my experiences have been much the same. I had someone reach out via DM about a private loan once, too, but as you can see above, the terms are always a bit... questionable.
Borrowing money definitely comes with its own set of risks, but you're paying a massive premium in interest for that privilege. Of course, he wants to hedge his bets and protect himself, but he can't just offload all that liability onto me. For him, it’s a perfect win-win scenario—he either walks away with a hefty interest payout or he ends up with the house itself.
I have to admit, signing paperwork stating the entire apartment belongs to him feels a bit nerve-wracking. If I get hit by a car or something and end up falling behind on payments for even a few days, I could lose everything. It’s not that I don't intend to pay it back, but there is this lingering, uncomfortable feeling that I am essentially at the mercy of the lender's goodwill.
It’s getting impossible to find an honest lender these days. I posted on a forum looking for a $3,000 loan, even offering my condo as collateral, and this one guy reaches out with a contract stating that if I don't pay back the $3,000 plus interest by the deadline, he becomes the legal owner of the property. Look, I get it—he wants some form of security—but who in their right mind would sign away a home worth over $300,000 just to cover a three-grand debt? I wouldn't mind if he placed a lien on it, but this doesn't exactly scream "good intentions."
Rebecca Green7, did you end up pulling the trigger on that loan? If so, anyone you’d actually recommend?