LENDING PLATFORMS : BEWARE!

3년 전

        Lending platforms offer tantalizing rate of returns and dreams of  becoming rich quickly.  Beware of them! You can lose all your money and  compromise your financial situation. It is so easy to fall prey to the easy money you can make.  More money than what you make at your  job. Even makes you contemplate quitting your job and putting more loans to make bigger returns and replace your income at the job if not more. This is what  people  have to be careful of. I hate to see "newbies" fall victim to these platforms. 

        Promoters  pump up these lending platforms.  Followers follow these You Tube personalities thinking they are out for their best interest.  Of course these promoters  put out disclaimers  saying that they are not giving any financial advise and that you should use  only what you can afford to lose. This covers them but of course follow them thinking they what they are doing and they get motivated by the money they say they are making. 

        Promoters  pump up these lending platforms.  Followers follow these You Tube personalities thinking they are out for their best interest.  Of course these promoters  put out disclaimers  saying that they are not giving any financial advise and that you should use  only what you can afford to lose. This covers them but of course  people follow them thinking they know  what they are doing and they get motivated by the money they say they are making.  They are only out for their best interest. Enticing you to join, yet covering themselves with a disclaimer.  But truth is they  are not looking out for you.  You must be cautious with your investments and do your homework and  not just follow a personality in You Tube.  Remember, they "promote to make the loot."

        Truth is , these lending platforms are not sustainable and  will eventually close down and take your money. Their goal is to make money and run. They are not trying to be the #1 company or have any interest in changing people's lives. The bottom line is the bottom line.  They want profits and more than likely  will  close down and run off your money. If not now, than sooner than later.  But they will close. Buyer beware!

        The promoters will not help you. They may console  you and feel bad for you, but they will move on to the next project they will promote.  You will end up holding the bag!  Who are you going to call then?  "Ghostbusters?"

         I've heard so many sad stories of people losing a lot of money. Money they can't afford to lose. They got carried away with hope and dreams of  big money and a chance to quit their jobs that they hate.   People get so motivated with false hopes and a chance of a better life making more money than they have ever made. Be careful with these lending platforms, you may lose everything.

        In short, these lending platforms are like the casinos. They are not good for you. False hopes for big gains. They will be around just like the casinos. You go there and take your chances, but you better know what you are doing. But just like the casinos, you don't put your life savings into them and trust them to  come through for you.  So proceed with caution and understand the risk.  And once you enter these programs, don't blame anyone if you lose all your money !  You've been warned!   Take heed. 

         Disclaimer : Never invest funds more than what you can afford to lose. This post is my own  personal opinion/speculations/ insights . Please  do your own research before making any investment decisions.  I am not a financial adviser, nor am I giving any financial advice. If you make any trades after reading this post,  you accept  accountability and  responsibility  for any  lose  that you may incur. By reading this post you acknowledge and accept that.     

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
STEEMKR.COM IS SPONSORED BY
ADVERTISEMENT
Sort Order:  trending

Always be highly suspicious of "investments" that put more emphasis on network marketing than they do their business value proposition. Lending is not an easy industry to get into unless you have the infrastructure to enforce the loan obligations, otherwise the bad debt goes uncollected and the firm sells the debt for pennies on the dollar, leaving investors with substantial losses.

Encore Capital makes a business out of buying up bad debt from companies who gave lines of credit and sending their lawyers after the people who stopped paying. One stock that goes up during a recession!

Nowadays it has become relatively easy for some people to apply for loans, there is a countless number of public and private lenders. But is it really necessary to go to the request for a loan? I think that only if it is a vital emergency and we do not have money for that moment, maybe it would be an option, however doing it by routine can turn us into "free slaves" because we are tied to material situations, not so necessary, taking off the feet of the land, we forget to think with sanity, reasonably, we ask for credits buying things not so necessary and it becomes a vicious circle, continually depending on one credit to pay another ... that is life? in my opinion no. Good post, excellent contribution.