Dr. Toby PotterCEO and Founder, The Unshakable Investor · Real Estate Investor Success Coach

Private lending #realestate #realestateinvestors #financialfreedom #privatemoneylender

Name: Private lending #realestate #realestateinvestors #financialfreedom #privatemoneylender
Uploaded: 2025-07-14T23:03:19+00:00
Duration: 54 s
Channel: Dr. Toby Potter
Description: In this brief YouTube commentary, the speaker reads a GlobeNewswire article announcing that Honest Loans is offering guaranteed personal loans up to…

14 Jul 2025 · 1 min

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0:54

In this brief YouTube commentary, the speaker reads a GlobeNewswire article announcing that Honest Loans is offering guaranteed personal loans up to $5,000 for borrowers with bad credit. The speaker immediately cautions viewers that if these loans are structured like payday loans, they could carry astronomically high interest rates of 300‑400%, turning a $5,000 loan into a $7,500 repayment burden. He emphasizes that such terms would deepen existing debt, likening it to "robbing Peter to pay Paul," and urges viewers to avoid this predatory financing option, labeling it the worst thing he has heard and bad business for all parties involved.

Chapters

According to globenewswire.com, the US is opening up a guarantee of $5,000. So let me just read this article to you real quick. Says US personal loans for bad credit with a guarantee approval up to $5,000. Honest Loans, a flexible personal loan lender, is offering up to $5,000 for people with bad credit. This is unbelievable. If it's structured as a payday loan, that means you are now paying an exuberant amount of interest, 300%, 400%, which means you're just going deeper and deeper and deeper in debt. This is the absolute worst thing I've ever heard. If you're already behind in your bills, all you're doing is robbing Peter to pay Paul and compounding your debt with a very, very high interest rate. That means that that $5,000 is going to cost you $7,500 to pay it back, and you didn't have it to begin with. Don't do this. This is bad business for everybody involved.