All Forum Posts by: Eric M.

I applied for a business line of credit with Midwest Corporate Credit after reading about them in the forums on BP. I went through the initial application, I was preapproved and then I received a disclosures email through DocuSign to proceed with the application process. In the fine print it states the following:

"The client agrees to pay a consulting fee of 10% for all unsecured financing. The client agrees to pay 10% of the approved amount of unsecured financing to Midwest Corporate Credit within 15 days of approval date. Client agrees to pay a late fee of 20% APR, prorated daily, for each day that the payment is delinquent past the due date."

Be very careful and read the fine print.

Any update on this? Were you able to cash out the credit?

Perhaps counseling would be helpful to help you sort out your issues and identify a career path.

Some people simply can not be helped. They go through life always looking for the easy route and never find what does not exist There are only two paths to financial success, work hard or win the lottery. 

If you are not interested in working and do not have a wealthy friend or family member to loan or give you money your idea of starting your own business is only a fantasy. You would need to start off working for someone else in order to save up money to start your own business. Why would a bank or investor whom does not know you help you out when you do not have any way of paying them back?

You obviously do not want to work but without it you will always be dependent on whoever is financially supporting you. It is time to man up and get a job unless you can't for medical reasons. In that case get on Medicaid and seek treatment for whatever is preventing you from working. Perhaps counseling would be helpful to help you sort out your issues and identify a career path.

Most people have income to back it up. Since you don't have money to invest or a willingness to get a job to gain money, I don't really see how you plan to invest. What do you have to "invest?"