Bitcoin Forum

5 BTC loan required, preferably more?.Will pay back in a month. Money is need to pay off bills from debt collectors. Can show proof of debts which go into 2 - 3 thousand mark.
I can offer collateral but what is good collateral to use? I could post my passport, some advice would be good cheers. I have a bad credit rating so cant pay off loan. I have a part time job but its only a few shifts a week. Live with parents who I cant borrow anymore money off. Any help and advice appreciated. Thank you very much :) Please ask for any more information

Please provide more information on your $750 in collateral.  That's what the lenders want to read about.

You can't pay off your loan, so you want a loan to pay it off?  And how will you pay off the loan to pay off the loan you can't pay off?

Ehm.. he'll probably ask for another loan?

Err... Good luck ?

This is a good point. Theres a few bills. One is an old credit card. The other is an old Wonga loan ( stupid I know) I have managed to get them to freeze the outstanding debts a few weeks ago so no more fees are added. Well ive just started a part time job so I will eventualy have some money coming in again. The loan is just to pay off the debtors? keep them happy until I can set up regular payments with them. Or if I can get a bigger loan pay them all off then pay the person who gave me the loan with my wages

You should just say it's for poker, I bet you're likely to get a loan that way.

Sorry what do you mean, what collateral I can give. Any suggestions? What do other people use as collateral?
Thanks

sorry i presume your joking? if not... its for poker?  :-\

Hey Joey!

Its a joke about how people here would probably have more faith in someone repaying a loan that they are gambling with than someone taking out a loan to pay off other loans.

Just seen this postcard idea, very clever. im willing to do this -



Less convincing (though still enough to be convincing) is third-party rep. Heatware, eBay, OTC. They're all able to be abused, but it adds a little extra hassle for the scammer. Knowing you live at the address on your ID is a big plus. Some lenders may also ask you wait for a postcard (with a code on it) to be mailed to your address. When you receive that postcard, you relay it to the potential lender, and then he knows you live where your alleged ID states. If you also provide a promissory note and pay stubs, that seems pretty darn secure to me.

Collateral serves as protection for a lender if the borrower defaults.

If you don't manage to pay back the loan, you will forfeit your collateral and the lender will become the sole owner.

So basically, something that is worth $750 to the lender.

ah i see. but surely someone loaning out the btc doesn't matter what its for if they trust they will get it back?

ah well don't know whats worth £750 ( im in u.k by the the way) that i can post / deliver?. Suppose i could meet in person in north west

Don't you have a interest free overdraft with your bank or something, and a loan with Wonga, really man they rip you off so hard why did you do that.

No i don't, i know mate was so stupid with Wonga

Can't you sell your computer or something, just pay off all your debts and be done with them and when you get paid just buy a cheap one or something to avoid getting any extra charges.

My computer wont be worth more than a hundred or 2 at most.

Your up to your eyeballs in debt and still live your parents? How you gonna cope when you go out into the real world?

Ah, well pick up some extra shifts at your job or something then. You will not find a loan here without collateral such as Litecoin or a valuable item that is cheap to ship to the lender.

Yes trying to get more shifts.Will have to think of some collateral i can ship. Thanks for your advice :)

I don't see how that is helpful, constructive or fair. Ive moved back to my parents after splitting with my partner and getting into debt. Ive had plenty of 'real world ' experience

Okay sorry, it was wrong of me to assume.
But this visious cycle of borrowing to pay off a previous creditor, is not the answer.
I've seen it happen with a friend, it just gets worse and worse.

Hope you can sort it out, but I'm sure you won't get credit here.

No problem , thanks for the advice

Right, you're that guy who got a 500 btc loan, haha.

uhhh... he's not?

Sorry mate, but your current lenders you are in debt to have a way to get their money, any borrower on here really won't unless you offer something up.

Do you have anything like airline miles or something of that nature to possibly use as collateral?