Landscape and outdoor design
| Listing Information |
| Amount: | $9,000.00 |
Status: | Loan created |
| Grade: | B |
DTI: | 14% |
| Lender Rate: | 13% |
Borrower: |
dominator730
|
| Time Left: | Finished |
State: | NJ |
| Funded: | 100% |
Group: |
(No Group) |
| Loan Information |
| Loan Status:
| Current |
Origination Date:
| 2008-10-09 |
EricsCC ROI:
| 12% |
| Status History |
| Oct 08, 2008 |
Current |
After four years of running a small business, (Landscape and outdoor design) my silent partner has requested a share of the assets to be liquidated immediately. We originally agreed to do this before the end of the year in December, however, (the partners private affairs were poor business decisions) the rapidly hostile investment market is putting pressure on me to come up with the balance. I have no problem with this in December, but, now I have to borrow from my pension too, it is less than the money required to satisfy the indebtedness. The Partner is aware that my property is to be auctioned in the next 75 days, (which is the world of emotional (not rational) is just not fast enough. I have depleted all of my capitol to make the business work, and these last few years working a different field and job to save has not yielded the cash to buy the remaining interest and resume the business. I Originally sought after a collateral loan against the assets (Land), but, rather than have liens and encumbrances on the property it was not in my best interest to do so when it is auctioned. What is needed however is a loan that could be debited from my paycheck without a pre pay penalty? I will have more resources liquidated after December and will at that time have the ability to repay the lender in full sooner than any terms of maturity. I have gone through many conventional means to apply for a personal loan and an inaccuracy from one credit reporting agency, stoically refuses to correct a payment to an outstanding debt. (2001) In 2003, after sending them all of my personal information it seems to me they have mishandled sensitive paperwork and violated my personal homeland security by requesting the same information that should remain in their permanent archives. I was later told never under any circumstances give or exchange the information again. It is disgusting that we the consumer must submit to these agencies for our characters, when clearly people like me work and pay bills to rebuild and improve credit. These agencies are not government entities but private businesses where there could be a problem with their own security disclosures. If these agencies were accurate with identifying qualified individuals for loans especially houses, there would not be a home mortgage crisis in the first place. Their motivation is for us the consumer to purchase their report but also asking for practically a blood sample in the process. Why do I have to resubmit over again when the most important ids are the same (S.S., driver’s license...? (Don’t pictures of current work i.d. and pieces mail- bills verifying address, seem excessive?). But the credit bureau can not be held liable for advising lenders that some people are not a risk and are? It is obvious to me that credit reporting agencies have caused a significant contribution to the fiscal crisis misleading lenders. So again, the loan is to satisfy a business partner buy his share out, it is the current economy that pushes me to come here, if only there was some way to postpone the urgency, and have my assets, chattel, and worldly possessions sold it would be done but time is not an option here. The best advice to anyone is never taking a partner!
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