Hello all, I am seeking about 50k to put in an annually funded IBC. I will take the available cash value loan out and payoff some of my higher interest debts. I have the income to support a traditional 50k loan but I am wanting to start recapturing interest through my policy.
Seeking 50k @ 8% for 6yrs.
monthly payment of 876.66 for a total of $63,119.67 payback.
by doing this strategy, I can eliminate $2000/m worth of bills, completely covering the $876/m loan payment and I can set up a self payback for my policy so it can start growing. Anyone interested in funding me?
Miguel Meuniot: 918-407-2212
Thanks for the consideration.
Thanks for posting this. I wanted to give you some advice. This loan request will not get any interest for a few reasons. First off its unsecured with no collateral. Second, its 8% which is far to low in this interest rate environment. You would need to be closer to 15-20% for this type of unsecured loan. Plus the whole ask is self serving. You are not providing any real comfort or benefit to the lender its 100% benefiting you. If you want to have success you will need to really think through the ask and find a way to collateralize the loan like almost all the other deals and opportunities on PMC. Just trying to help.
Chris Naugle, thank you for the advice. That’s very helpful.