Don’t be stupid!

If you can get unlimited bonds and you take them all, do you think you won’t have to pay for them? I think most of you are now wondering whether I’m stupid for asking you something like this, because everyone knows that bonds cost money!

Well, not everyone is that smart. After I wrote on Facebook that people can get unlimited bonds with the ALA method, there were actually people who accused me of “reckless lending”. Can you believe that in this modern age there are still people who can’t manage their own financial affairs? Incredible! No wonder the Money Powers are just growing wealthier and wealthier with the licensed fraud they are peddling.

This is what I wrote on Facebook and what led to the accusation of me committing reckless lending:

“Whoa! It was a great crowd at the Hilton workshop yesterday! Welcome to all the new members! Now you know how to get unlimited ALA bonds. I wish you millions! Thanks for attending.”

What is the difference between Reckless Lending and Reckless Borrowing?

There is a big difference between these two. Reckless Lending is when you clearly cannot afford something, but a credit organisation like a bank still gives you a loan. The Consumer Protection Act was specially created to protect people who can’t calculate and manage their own financial affairs.

Reckless Borrowing is something else entirely, though, and there is no law that will protect you from yourself. This is when people lie about their income or expenses, for example, in order to get more bonds than they can afford or qualify for. It is stupid, very stupid!

What do we do with unlimited bonds like the ALA bonds?

We take as many as we can afford. With ALA you have minimal attorneys’ costs, and perhaps agent’s commission, but other than that you are actually only paying the monthly shortfall on the property. In November I bought a property with the ALA method, and the total monthly shortfall excluding any voluntary provisions was just R73 per month. I didn’t need to apply for the bond and nor did I need the bank’s permission. I would have been very stupid not to have taken over this person’s bond, don’t you think? But as long as I can afford it, I can get as many as I can afford, .........................

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