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Want $10,000 for your wedding? Just don't get divorced

Re: Want $10,000 for your wedding? Just don't get divorced

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    lyndausvilyndausvi mod
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    What differentiates an average host and a great host is anticipating unexpressed needs and wants of their guests.  Just because the want/need is not expressed, doesn't mean it wouldn't be appreciated. 
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    Maggie0829Maggie0829 member
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    Sadly I think this company is going to be making some money.

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    princessleia22princessleia22 member
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    Interesting concept.  All their profit comes from advertising, not divorces.  But, the divorces fund future marriages, so they still need the divorces to stay in business.  I'd be interested to see how they analyze the risk factor.  Do they only fund marriages that are higher risk for divorce?

    Now, I know there is the general rule that it's bad to go into debt for a wedding. Does this count as debt? It's really only debt in the event of a divorce.

    image 

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    spockforprezspockforprez member
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    Ha, damn! Hmmmm....... so tempting! $10k is our budget! ;) 
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    MairePoppyMairePoppy mod
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    I like it. 
                       
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    thefanciestbecklerthefanciestbeckler member
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    I'm not gonna lie, I'm kinda diggin this idea.

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    JoanE2012JoanE2012 member
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    I wonder what the interest rate is - I saw something that it's variable depending on the couple's risk profile, but curious what the range is.
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    DarthV8rDarthV8r member
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    I'm on the verge of signing up.
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    ericasm0703ericasm0703 member
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    I'm really liking the idea; it's very tempting.

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    MairePoppyMairePoppy mod
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    They offer free marriage counseling, too.

                       
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    randomsloverandomslove member
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    edited December 2015
    My mom posted this to my FB wall the other day. I'm at least going to look into it. There have been a lot of financial changes for us recently (I just recently got out of the military and started school, we moved, we went to MN for his brother's wedding), and will be more next year (he's getting out of the military, we're moving, we're getting married). I'll take all the help we can get as long as it's not putting us in debt or taking from other people (other than freely given, unasked for gifts). I think our "divorce risk" will be low based on their algorithm, which means our interest will be higher if we do. However, this marriage is the most sure I've ever been about anything in my life, so it's all good.

     I hope they don't fund PPDs. If they do, why not vow renewals?







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    RomanceManagedRomanceManaged member
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    I checked it out too, the website doesnt launch for 58 days I think it said. FI and I signed up for their email list, and are going to at least apply. Not sure if we would get approved since both of us dont have any established credit, but $10,000 is a nice chunk of change that could really help!

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    holyguacamole79holyguacamole79 member
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    edited December 2015
    I'm curious how they will "enforce" it. Will they regularly retrieve public divorce records of their clients? Because I doubt anyone will admit to them that they got divorced.

    ETA - also, it seems a bit contradictory that a couple who stays married longer owes more due to the interest.




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    JoanE2012JoanE2012 member
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    edited December 2015
    holyguacamole79 said:
    I'm curious how they will "enforce" it. Will they regularly retrieve public divorce records of their clients? Because I doubt anyone will admit to them that they got divorced. ETA - also, it seems a bit contradictory that a couple who stays married longer owes more due to the interest.
    And once they find out you divorced, what do they do?  Try and find out where you're living?  And if they can't, it goes to collection?  I'm very curious about the whole process.  

    ETA - And what happens if the husband pays his "half" back - and the wife does not?  Does the collection/credit go on both individuals or does the loan get "split up"?
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    holyguacamole79holyguacamole79 member
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    JoanE2012 said:


    holyguacamole79 said:

    I'm curious how they will "enforce" it. Will they regularly retrieve public divorce records of their clients? Because I doubt anyone will admit to them that they got divorced.

    ETA - also, it seems a bit contradictory that a couple who stays married longer owes more due to the interest.

    And once they find out you divorced, what do they do?  Try and find out where you're living?  And if they can't, it goes to collection?  I'm very curious about the whole process.  

    ETA - And what happens if the husband pays his "half" back - and the wife does not?  Does the collection/credit go on both individuals or does the loan get "split up"?

    I assume there is a contract involved ... but that would be quite an endeavor to keep up with whether or not they divorce.




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    spockforprezspockforprez member
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    I submitted my email. It can't hurt to see and $10k would cover nearly our entire wedding plus pay us back for what we've spent. If we read the contract and don't like it or the terms or APR sucks, we just won't do it. I'll report back, though!
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    MairePoppyMairePoppy mod
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    spockforprez said:
    I submitted my email. It can't hurt to see and $10k would cover nearly our entire wedding plus pay us back for what we've spent. If we read the contract and don't like it or the terms or APR sucks, we just won't do it. I'll report back, though!
    Thanks. I'm really curious.

    The little voice in the back of my head is saying 'if it sounds too good to be true, then it probably isn't.' But I hope it's true and I hope you get your$10k gift and live happily ever after. 
                       
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    STARMOON44STARMOON44 member
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    I'd be very cautious about this. It seems like the type of thing courts are going to invalidate right and left. And it's really hideously tacky.
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    spockforprezspockforprez member
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    STARMOON44 said:
    I'd be very cautious about this. It seems like the type of thing courts are going to invalidate right and left. And it's really hideously tacky.

    To the bolded: ¯\_(ツ)_/¯

    To the rest: We'll absolutely check thoroughly before proceeding.
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