Circle Lending A Powerful Debt Reduction Tool for Deliberate Creators

Not too long ago, my wife and sat down and took a good, honest look at our financial situation. And I can assure you that what we saw was not a pretty sight! We have both been so focused on personal growth, that money has, in the past, been an afterthought, at best. And with that sort of attention, or inattention towards finances, it is not surprising that we now find ourselves faced with a significant amount of debt.

After some deep breaths and focused, joyful thoughts, we made a commitment to make money a more central focus in our lives. Among others, we set the intention to pay off our credit cards and begin our journey towards financial freedom. This intention marked a major shift for both of us.

As a serious student of the Law of Attraction I’m aware of the power of intention, but it is still an amazing experience to witness the ways in which the Universe responds to clear intentions. In this case, the first unexpected response was a gift from a family member that allowed me to pay off a big chunk of my debt.

And then, out of the blue – that phrase takes on a whole new meaning when perceived from a Law of Attraction perspective – a friend offered to loan us the money needed to pay down all of our personal debt.

Needless to say, our appreciation was and continues to be huge. When we set our intention to be debt-free, beyond our repayment plan, we did not have any clear ideas about how we would achieve it. We just knew that by setting the intention and being in a space of allowing that the Universe would conspire to assist us in ways we could never have dreamed of!

And we have seen the dramatic results of that intending and allowing.

Circle Lending Keeps it all clean

In preparing this loan, we wanted to be very clear, clean and legal. Our friend was loaning us a significant amount of money, more than he had ever loaned out before. We wanted him to feel comfortable. And we wanted to be completely clear about this loan. The last thing we wanted was for this to get in the way of our friendship. So I went online to investigate ways to create legal loan documents between friends.

In preparing this loan, we wanted to be very clear, clean and legal. Our friend was loaning us a significant amount of money, more than he had ever loaned out before. We wanted him to feel comfortable. And we wanted to be completely clear about this loan. The last thing we wanted was for this to get in the way of our friendship. So I went online to investigate ways to create legal loan documents between friends.In my search, I discovered a very cool company called
Circle Lending (aff)
that sets up official, legal, loans between friends and family members.

Our experience with Circle Lending has been totally positive. Their website is full of good information. There is an effective loan calculator on their site that allows you to experiment with different types of loans and different interest amounts in order to create a loan that will work best for you.

We chose a graduated loan with several “steps.” This will allow us to significantly reduce our credit card payments up front so that we can begin an aggressive savings program. And as the loan repayment amount grows, the income from each of our businesses will continue to grow as well allowing us to continue to save aggressively and establish passive streams of income.

For our loan we used Handshake Plus personal loan program that includes the Promissory Note, Payment Plan, and an Optional Demand Clause as well as the Repayment Management program that includes Monthly Payment Processing, Online Account Access, and Year-End Reports

total cost for the service was $199 up front and a $9 monthly servicing fee for the repayment management plan. A most worthy investment to secure a low-interest, debt consolidation loan and, more importantly, ensure the continuity of our friendship.

If you are a Deliberate Creator moving towards financial freedom, becoming debt-free may be an important first step on the journey. Because the Universe is able to arrange for things to happen much more effectively than you can, you never know how your intention of becoming debt-free and creating financial freedom may unfold. If you unexpectedly get an offer from a friend or family member to assist you,
Circle Lending (aff)
is a powerful tool.

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      7 Responses to “Circle Lending A Powerful Debt Reduction Tool for Deliberate Creators”

      1. Doug on October 27th, 2006 5:38 am

        You can find CircleLending on the Internet at
        http://www.circlelending.com

      2. Edward Mills on October 27th, 2006 12:12 pm

        Hi Doug

        Thanks for that catch. I’ve added in links to the article.

        ed

      3. Evolving Times » Focus on Debt in 2007 - NOT on January 2nd, 2007 10:05 am

        […] When my wife and I set an intention to become debt free, within three-months of our intention a friend offered to loan us enough money to pay off all of our personal credit card debt. (Not an insignificant amount of money). […]

      4. Sandy Banks on February 4th, 2008 7:53 am

        Thanks for speaking up about the concept of circle lending. I wish you well in your endevours.. Perosnal growth is really important and it also presents you with an opportunity to learn aobut your issues with money. Take care and all the best.

      5. Edward Mills on February 8th, 2008 11:45 am

        Thanks Sandy!

      6. A Buffet of Online Borrowing Options on February 15th, 2008 8:57 am

        […] Circle lending is like peer-to-peer lending with one major difference: it is limited to a circle of people you choose to include. Mostly, circle lending sites were used for family loans where people did not want to just have a verbal contract, but needed some sort of written contract too. If you’ve ever lent money to someone in your family, you know how sticky a situation it is to get your money back without breaking the relationship. Even if you don’t want the money back, the relationship may falter because the borrower feels guilty not repaying the loan. So, circle lending steps in as an intermediary to help families and closed circles to manage the loan. […]

      7. Debt Free Christian on February 17th, 2008 11:44 am

        Great article- I wasn’t aware there was a site like this! I will have to check it out as I have always been a fan of helping out family and friends but the idea of loaning money always gets sticky. I can see how a site like that would really take the heat off…falls into the category of “why didn’t I think of that!” Thanks for the writeup and info.

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