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**mwong92683** · August 11th, 2008, 02:39 PM

That would be if, and when the company becomes insolvent. Then they come after everyone to repay those loans.

How long do you think this can last if they are just "giving away money". Do you think it can go on forever? I don't - - - If you have a consistently higher cashflow which is always more than the interest payments, on a consistent and continual basis, eventually that well will run dry. How can it not???

It is really only profitable for them if, and when the loans are paid in full, or loans stop and payments continue - THEN they will have gotten more than they have given. Up to that point, they are in the red every month. Apart from a huge tax break, they have to eventually run out of money somewhere down the line, and either slow down or stop making loans, then the only thing left to do is to collect on what they've "loaned out".

Maybe they do have very deep pockets, and maybe it can go on for a very long time, I just don't see this as something that can last FOREVER. And the longer it does last, and the longer you stay in the more you eventually owe. And each subsequent loan you take out is higher than the last one, so you are exponentially increasing your indebtedness on a regular basis.

And what if the principal becomes very ill, has a stroke, or dies? Then what? Someone, somewhere will surely say, "guess we'd better start calling these loans in". Sounds far fetched, but I am in a program right now where the principal had a stroke, and things DID change including minimum payouts, frequency of payouts, communication has come to a virtual stop, emails are no longer being answered, etc. etc. etc. No-one expects to have a stroke, or become seriously ill, but it does happen - and it can happen quite quickly.

I stand by my statement - this is a very scary program. HUGE gamble!!

**CuriousGeorge** · August 11th, 2008, 08:48 PM

So, if there always seems to be around 1,500 positive, even after the payments, where does the money come from? Seems to me this is a good program/process for someone that had a good solid cash flow that needed to move the cash into and through various pockets and the like, even at a discount before accepting the final amount. If you get my drift.

**Garage Logician** · August 11th, 2008, 09:00 PM

Are you hinting at something like this:

Welcome to MoneyLaundromat.com!

**fizzgizz** · August 12th, 2008, 12:49 AM

What comes to mind is SEC...basically - I figure this program would stay around until SEC got wind from people upset about wanting to get out and having to pay it back. Once SEC got a hold of the program it would be shut down and loans wouldn't be required to be repaid since it wasn't a legitimate loan in the first place...therefore those people would still reap the benefits while it is around but SEC would prevent the program from going any further.

**the Guru** · August 21st, 2008, 12:50 PM

Quote:

Originally Posted by Garage Logician

Are you hinting at something like this:

Welcome to MoneyLaundromat.com!

Did you know that that is actually a real domain?

**Garage Logician** · August 21st, 2008, 02:25 PM

Quote:

Originally Posted by Garage Logician

Are you hinting at something like this:

Welcome to MoneyLaundromat.com!

Quote:

Originally Posted by the Guru

Did you know that that is actually a real domain?

Nope, I'm guilty of not devoting DD to that one. Now I've gotta go take a look!

**the Guru** · August 21st, 2008, 10:22 PM

Actually it is a pretty boring site. Just a contact form. Pitty really because you could do something really great with that kind of domain name.

Fancy42 · August 30th, 2008, 09:27 PM

I've been tossing this thing around in my head ever since Tara made the first post here about the WWLC.

I've researched everything I could about it.

I've listened to the conference calls.

I've seen the websites people have put up about it.

And, I've come to the conclusion that it's a legitimate program.

So I've joined it!

I think that perhaps it's not understood that after 24 months each successive month that you receive your loan, one is paid off with interest. The loans are for only 24 months each so they do get paid off.

I've come across an excellent explanation of the program:

Quote:

# 1 - Over the past five months they had been paying exactly as promised. Time will tell if this continues. Five months is not enough, but it is a good start when you consider the other points.

# 2 - Who has the greater risk here? If you do everything you are supposed to do. Join - Pay the fee - Refer your two who do the same, you receive $50 immediately and $100 more 30 days after that. Your out of pocket is $105.22 - Theirs is $150 and from this point forward the greater risk is always on them.

# 3 - Is this a viable business model? Although unusual, I believe that it is viable. Experimental? YES - But I don't mind being their "Guinea Pig" if the greater risk is on THEM.

This is intended to be a series of self-liquidating loans - 24 month term at 6% simple interest.

Every month a new loan is automatically granted so long as the required payment for the previous month is made. After 24 months each loan is fully paid off. Their objective is to have virtually ZERO DEFAULT on the loans. They are attempting to do this NOT by forming a cost consuming collections department, but by a very inexpensive method - Simply making sure it is always more to YOUR advantage to stay in the program than it would be to quit the program. The next loan that you receive is ALWAYS greater than the consolidation of all of the payments that you owe, giving you a consistent and ever increasing positive cash flow. They know that most people will NOT quit a program if they are making money from it. (I agree!)

What I mean by “virtually ZERO default” is that the members who get the loans are paying them off. The first loan is $50 – the second is $100 – the third is $200 – and so on with each having a term of 24 months. A good track record of the loans being paid in full becomes more and more valuable to them in the future.

Over time, they will be able to present a track record of loans being paid off as promised (nearly) 100% of the time. By doing this, it is possible they could borrow the FULL value of each loan up front (possibly even multiple times the value of each loan) from investors who want to fund the loans, invest that money through their International investment portfolio, and MULTIPLY their returns. It is possible they could be making multiple times the value of each loan if they are successful at doing this.

If they are NOT successful at doing this, they will not be able to keep paying us each month and the program will close. We owe nothing if that happens. (See the Terms)

If YOU decide to quit, then technically, “you would be responsible for repaying the loans.” However, read also Question #19. “What happens if I quit the program? Do I have to pay back the loan?”

Their Answer – “Since we do not ask for your social security number, we do not report defaults to credit or collection agencies, however, should you choose to quit the program, you can do one of two things:

1) Pay back the loan plus the small interest fees, or,

2) While we hope you would not do this, if you decided to keep the money, you immediately become responsible for reporting it as income and paying taxes on it.”

They do NOT attempt any collections or report any defaults – Nor do they have any intention of doing so. That is obvious from the start. They do not ask for address, phone number, references or any identification numbers. They are not interested in attempting any collections. They just want to make the program a “Win-Win” for everyone involved. If you quit and do not repay the loans, they lose, but so do you!

I tell people this program will probably not be for everyone. If you can't get your head around it and see what they are really trying to do, this may not be for you. It is "outside the box".

If you will not or cannot refer two people (even with your sponsor's help), this is definitely not for you because that is what is required to make it work.

If you weigh the risk versus potential reward and determine it is not worth it, pass it by.

So, if they ever quit paying you, the program ends and it is all over. If you ever quit paying them, it becomes taxable income and you may have to pay them back (see FAQ). The credit life policy is in place to cover death. Remember the only catch is, if you do not pay the loan, it is no longer considered a tax free loan – It then becomes "income" for all legal purposes and at that point you are liable for claiming it as such and paying taxes.

Otherwise, if you stay in the program (and why would you ever quit?), it is all just considered a series of self-extinguishing loans (each one pays itself off in 24 months) which are not taxable.

At any rate, I'm in, so if you will please add me to the rotator, I'd appreciate it. Thanks!

My referral link is: