Need a $650 USD Loan For 6 Months

[BitshireHashaway]

Latest Update: Things Are Looking Up
Things are looking up. I've signed a forum posting deal for $90, and if I do enough work then I'll be able to get a total of $270 more by the time I go on the trip. That puts me at $500. I have a lot of work ahead of me... 140 forum threads, and 3000 posts to do! Another .15 BTC... up to $515.

Collateral
I'm not sure that this would count as collateral, but the value of the camera if I can't pay you back + the 70LTC I have (I can send this to you when you send me the loan), should cover any value drop in the camera. Plus you can keep all the pictures I take:). Let me know what you guys think.

Current Money
$100 [Paypal]
70 LTC
$30 [Allowance till that point]
So I have ~$300. I am hoping to get more by that point. I've estimated my total costs to be $700+ tax. so if you assume $750, that's $450 that I need. Looking to get a loan soon.

General
Hello,
Ok, I am interested in a $650 USD Loan for 9 months. This loan will be repaid with a $100 interest. The reason I want this loan is because I am interested in this loan to purchase a camera, storage for the camera, and a camera bag. I am going to Costa Rica in 6 weeks, and I will not have the money by then, so I need this loan, which I will use to get the camera, and then I will pay you back in 9 months.

My name is Cameron and I am 14 years old. Your next question may be how can a 14 year old pay you back? Well I have a few income sources that will help allow me to pay you back.

-> GLDCoin Stake: Based on the recent highs of GLDCoin my stake is valued at around $350. If needed I will cash out this stake in order to pay you guys back.
-> Allowance: It's $5 a week, which may not seem like much but that's $180 by the time I need to pay you back.
-> Grades: My parents pay me for getting good grades, and based on my grades history, that should be around $100 by then.
-> Forum Posts. I work on doing some forum posts in my spare time. I will have $250 in my forum posts or more probably earned by then.
-> Giveaway. Someone is giving a 15,000XRP giveaway ($250~) for whoever has the most posts done by August 31. I can easily do this since the current #1 is only like 30 posts, so I'll be done by then.

The total so far is: $880. I can do some more forum posts in order to get to the total of $1000. Please PM me if you are interested.

http://www.nikonusa.com/en/Nikon-Products/Product/Digital-slr-Cameras/25492/D3200.html is the camera I want. I was going to originally get the D3100, but when I added them to my cart, the D3100 was $600 and the D3200 was $550. So...

Edit: I have 70 LTC which I can also put towards this. I sold part of my GLDCoin stake for this so that you guys wouldn't have to rely on the price of a new alternate currency that varies a lot.

Someone just signed a forum posting deal w/ me for $80. That money should help.

[PrintMule]

your local credit companies will give you lower %

[BitshireHashaway]

your local credit companies will give you lower %

I'm pretty sure local credit companies don't give loans to 14 year olds.

[malevolent]

What kind of collateral can you provide that you could send to the lender to protect him from your default / being run over by a bus / running away without paying?

[BitshireHashaway]

What kind of collateral can you provide that you could send to the lender to protect him from your default / being run over by a bus / running away without paying?

I'm not sure I have anything. The only thing I have that's worth equal to or more than the value of this loan is my computer, however, I'm using that computer, so it doesn't work if I put that up as collateral. If I get run over by a bus, I can give my computer as part of the will:). I have some stock, but my parents won't let me put that as collateral, so that won't work. Any other advice to increase the chances of me getting a loan.

[PrintMule]

your local credit companies will give you lower %

I'm pretty sure local credit companies don't give loans to 14 year olds.

they sure as hell give loans to their parents

[BitshireHashaway]

your local credit companies will give you lower %

I'm pretty sure local credit companies don't give loans to 14 year olds.

they sure as hell give loans to their parents

I would assume that. However, my parents don't need the money, if that was going to happen, they would just give me the money if they supported me. However, my parents want me to figure out how to get the for the loan myself, and doing something like this, they know I'll have to pay it back.

[BitshireHashaway]

Update: I got some LTC and Ripple from a giveaway reward. In total, I have around 1.5BTC total that I have received, so I have decreased the loan by a corresponding amount.

[xboxgames]

your local credit companies will give you lower %

I'm pretty sure local credit companies don't give loans to 14 year olds.

False....Examples:

http://www.snopes.com/business/bank/treecard.asp (CC issued to a tree)

http://lynnkelleyauthor.wordpress.com/2013/03/23/credit-card-issued-to-a-snake/ (CC to a snake)

http://www.marketplace.org/topics/life/punchline/deceased-dog-gets-credit-card-offer (CC to a dog)

[BitshireHashaway]

your local credit companies will give you lower %

I'm pretty sure local credit companies don't give loans to 14 year olds.

False....Examples:

http://www.snopes.com/business/bank/treecard.asp (CC issued to a tree)

http://lynnkelleyauthor.wordpress.com/2013/03/23/credit-card-issued-to-a-snake/ (CC to a snake)

http://www.marketplace.org/topics/life/punchline/deceased-dog-gets-credit-card-offer (CC to a dog)

I'm not saying its impossible. However, lets start with the simple. I have a debit card, and my dad had to sign off on it to allow me to get it. Do you think that my dad will sign up on me getting a credit card. My parents don't support me getting a card that allows me to spend money wherever I want. I'm asking for a simple loan.

[Lohoris]

However, my parents want me to figure out how to get the for the loan myself, and doing something like this, they know I'll have to pay it back.

That is very wise, I with luck to both you and them.

Now I don't have the resources to support you directly, but I can give you some pieces of advice:

1. find a way to increase your "total" to much more than you need.
i.e. if you need to pay back $750, if $880 is the maximum amount you expect to gain if everything goes right, then any small accident might hurt your ability to pay back in time.

2. don't trust an altcoin as a source of income: its value might so easily drop to zero - you'd better sell them to buy bitcoins instead, then buy ASICMINER shares with those bitcoins... AM shares would be a much better collateral then a random altcoin

3. no offence, but I doubt you can afford to spend exactly 0$ of your weekly allowance for 9 months: you will need to use part of it.

4. if you have any skill which can be used to gain some money, use it and directly earn some money working

5. do you really need a $650 camera? I mean, are you sure a lesser one isn't fine? Remember you risk it being stolen or lost...
i.e. are you such a good photographer you think you have any real chances of selling your pictures? If the answer is no, then IMHO you should aim lower.

6. offer the camera itself as a collateral: unless you lose it, and as long as you bought it second hand (as malevolent wisely pointed out), I guess it shouldn't drop very much in value over 9 months.

[malevolent]

5. do you really need a $650 camera? I mean, are you sure a lesser one isn't fine? Remember you risk it being stolen or lost...
i.e. are you such a good photographer you think you have any real chances of selling your pictures? If the answer is no, then IMHO you should aim lower.

+1

It would also be wise to mention the exact products you want to purchase.
Are you buying new or 2nd hand? If not, I recommend doing so because you can save more money. I see a few Canon EOS 350D with lens for $200-300 or a bit more for 450D, while they are not the top or the newest models they can make very decent photos if you learn how to use them.

[BitshireHashaway]

5. do you really need a $650 camera? I mean, are you sure a lesser one isn't fine? Remember you risk it being stolen or lost...
i.e. are you such a good photographer you think you have any real chances of selling your pictures? If the answer is no, then IMHO you should aim lower.

+1

It would also be wise to mention the exact products you want to purchase.
Are you buying new or 2nd hand? If not, I recommend doing so because you can save more money. I see a few Canon EOS 350D with lens for $200-300 or a bit more for 450D, while they are not the top or the newest models they can make very decent photos if you learn how to use them.

I am buying a new product. Since this is my only camera, I would like to get a nice one and have it last. I'll post a link to the camera in the original post.

[BitshireHashaway]

However, my parents want me to figure out how to get the for the loan myself, and doing something like this, they know I'll have to pay it back.

That is very wise, I with luck to both you and them.

Thanks.

Now I don't have the resources to support you directly, but I can give you some pieces of advice:

1. find a way to increase your "total" to much more than you need.
i.e. if you need to pay back $750, if $880 is the maximum amount you expect to gain if everything goes right, then any small accident might hurt your ability to pay back in time.

I have some new revenue streams that I found, so I feel like I'll be able to get to above a thousand by the time I need to pay back anything.

2. don't trust an altcoin as a source of income: its value might so easily drop to zero - you'd better sell them to buy bitcoins instead, then buy ASICMINER shares with those bitcoins... AM shares would be a much better collateral then a random altcoin

Right now I have Litecoins which seem to be steady, but I can trade them into Bitcoins.

3. no offence, but I doubt you can afford to spend exactly 0$ of your weekly allowance for 9 months: you will need to use part of it.

I don't think so. Normally I don't spend it and I save it up, but I got a computer la few months back and used that to pay for it. I'm good at saving up money if I need to.

4. if you have any skill which can be used to gain some money, use it and directly earn some money working

I have a blog, however, I am also doing forum posts. I don't have any high money skill I think.

5. do you really need a $650 camera? I mean, are you sure a lesser one isn't fine? Remember you risk it being stolen or lost...
i.e. are you such a good photographer you think you have any real chances of selling your pictures? If the answer is no, then IMHO you should aim lower.

This is my first shot at photography so I'm guessing I couldn't sell any photographs. A lesser one would probably work, but I want to be able to take some really nice photos:).

6. offer the camera itself as a collateral: unless you lose it, and as long as you bought it second hand (as malevolent wisely pointed out), I guess it shouldn't drop very much in value over 9 months.

I'm fine with that. However, to offer it as collateral, aren't I not supposed to use it and give it to the lender as my collateral? If I can use it on the trip and fofer it as the collateral, I would be fine with doing that.

[candoo]

Do you have a older sister? I might could give you a loan

[BitshireHashaway]

Do you have a older sister? I might could give you a loan

Does that mean what I think it does? I have a twin sis.

[BitshireHashaway]

Made another .15BTC.

[Lohoris]

Thanks.

You're welcome! : )

I have some new revenue streams that I found, so I feel like I'll be able to get to above a thousand by the time I need to pay back anything.

List them all here, it would certainly help.

I don't think so. Normally I don't spend it and I save it up, but I got a computer la few months back and used that to pay for it. I'm good at saving up money if I need to.

This is very good to know!

This is my first shot at photography so I'm guessing I couldn't sell any photographs. A lesser one would probably work, but I want to be able to take some really nice photos:).

This is a very wrong misconception. What matters most is the photographer, not the camera. Having an expensive camera is actually a bad thing if you can't use it at full potential, because it is more risky to bring it along (either for theft or for accidents), it is much bigger so you can't sneak it up if you need to, and it will make you look like a fool to other photographers which instead know what they are doing.

The best thing you can do is to read photography manuals, buy a cheap camera, and learn with that one.
Only later you will have to chose if you wish to upgrade or not.
But if you can't take beautiful pictures with a cheap camera, rest assured you won't do it with professional ones either...

I'm fine with that. However, to offer it as collateral, aren't I not supposed to use it and give it to the lender as my collateral? If I can use it on the trip and fofer it as the collateral, I would be fine with doing that.

You can offer it as collateral even if you bring it along, you would just be stating "if I can't pay you back in full, I sell the camera and pay you back with that money".
This only works if you don't lose or get it stolen, of course.
Also, this works best if you buy it 2nd hand, because it would "still" be 2nd hand when you resell it — if you buy it new instead, it will become 2nd hand when you resell it, so it will lose much of its value.
(of course if you wisely decide to buy a cheap one, it doesn't really matter, you should already have the money... this only matters if you buy a professional one)

[BitshireHashaway]

I'll look at some cheaper cameras and see what I find.

[BitshireHashaway]

I've decided I like the camera I'm going for, so I'd still like a loan:)