Self-Liquidating Loans – Fact or Fiction?
You may see ads promising –
Self-Liquidating “LOANS!”
Investment Capital Overnight!
Your “LOAN” has been Approved!
BORROW Money And Never Pay Back!
etc.
A self-liquidating “LOAN” is fiction. You will never get a loan that youwill never have to pay back from anybody. You need to be very careful whenyou are presented with the opportunity to get “money for nothing!”
A true, self liquidating “LOAN”, standing on it’s own, is a pipe dream – it’sperpetual motion. A loan that pays itself off is of NO benefit to the lender-so, Why Would They Do It? The answer is simple – they WON’T!
Con men typically ask for up-front fees to get people a Self-LiquidatingLoan. “Your “Loan” Has Been Approved” is their typical ploy. Since there is NOsuch thing as a Self-Liquidating “Loan” this should be a tip off that allthey want is your money and you will never see such a “LOAN”! Remember themoney MUST come first, and if they can’t prove to you how the money willcome first to create such a transaction, you will lose any money you pay tothese con men.
Also beware of the con men that do not charge front fees but want to see ifyou qualify for such a “LOAN”, then notifies you later that you have beenapproved for a “Loan” and want you to pay points, closing costs, advanceinterest fees, etc.
But there is a way to use this CONCEPT!
In a Self-Liquidating Loan CONCEPT there https://payday-loan-bad-credit.info/ are no such expenses! Themoney comes first, then the transaction is created using a Roll Account(Compensating Balance)!
A Self-Liquidating loan actually does NOT exist. I know you see several adsin many publications advertising such a loan. There has been a mystiqueabout these loans. Many people believe that to get a so-called SelfLiquidating, Loan one only needs to apply and like magic, there it is! Amulti-million dollar loan with money pouring out of the envelope! Not so -but the Self-Liquidating Loan concept is done every day and you can learn how!
There is ONE way for a TYPE of self-liquidating loan to exist. Remember, Isaid *type* of self-liquidating loan.
A better term for a “self liquidating loan” would be a Roll Over Loan, RollProgram or a Compensating Balance Loan.
