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EarnByLoaning New Site Is Getting Closer
Tags: No Tags.UPDATE July 3rd: EBL site updates are located at www.earnbyloaning.biz.
EarnByLoaning is taking down the current site to do final testing and data migration. While they didn’t give an exact date for the new site, it is getting close! Here is their update:
Hi Guys,
Effective 9 am EST time Sunday( New York time for you international guys) The EBL site will be closed off to new members.Effective Immediately…
We are also closing off ANY new loans.Q-Why….?
A-We are testing and migrating data etc.. to the new site.Q-How long will it be closed off for?
A-We can not give you a definate date and time but it will be in July.Q- Can I still log into my account
A- YesQ- Will my Current pending deposit still go through
A- YesQ- Can I still make Withdrawals
A- Yes… But we need to have your ID documentation as outlined in the TOS.If you have any IMPORTANT questions please ask on the forum, but please do not ask for information on the new site, only what pertains to the old site.
Kind Regards
EBL Support
Along with the new script, they are improving their payment security by requiring identification documents. To see a list of what is required, please visit the forum. The types of documentation are clearly listed in the Identification Requirements thread.
EarnByLoaning is not the first program to require ID documentation, nor will they be the last. There was a time when I was very leery about anyone requiring documentation, however they do not require anything more than what can be found on the net already and/or what is required by local government, in this case it is the IRS. You’ll have to decide for yourself how you feel about sending in your documentation. Remember that you can (and should) black out all impertinent information, such as your driver’s license and/or passport number.
I am definitely looking forward to the new script! I wish the EarnByLoaning staff happy testing. I’d rather have them test it to death, than to find a bunch of bugs afterwards. However, we all know that bugs in a new script are inevitable. As long as they do not do anything that signals a red flag, please be patient with them during this time.
JMO,
Sharon
Popularity: 5% [?]
Giving these guys your personal info is dangerous, imo.
HI Curt,
I know that some feel the same way that you do, that’s why I wanted to bring it up. There are two sides to the issue and I can understand both sides. On the one hand people don’t trust their personal information with online investments on the other hand when an online investment is submitting information to a government agency and/or mailing anything snail mail, they don’t trust that everyone entered real information on their profile. It all comes down to trust.
When a site requires ID documentation it should never be more than a picture, signature, address verification and/or government identification, like your SSN. All other data can and should be blacked out before you send it in. This isn’t enough information to steal your identity, IMO. So, if you trust the site, send it in. If you don’t trust them enough to send in your ID docs, then you shouldn’t have trusted them enough to take your money in the first place.
JMO,
Sharon
I can understand where Curt is coming from, also.
But because Sharon and I trust EBL (we both have done plenty of DD on them), we feel OK with it.
I haven’t given them my SSN, but I will have to because they are a legitimate company, they are filing taxes and so they will have to provide members with a 1099-INT (if you are making money from referrals, a 1099-MISC will also be filed).
I understand that you may trust them. I just have one question, do they have a prospectus? If not then I would not give them the personal info. Thats just me.
Although I haven’t asked I don’t think they do. Part of the reason is that we are not investors.
If they did provide a prospectus they would clearly get into the line of fire of the SEC as an investment.
investing: the act of investing; laying out money or capital in an enterprise with the expectation of profit
an outlay of a sum of money to be used in such a way that a profit or increase in capital may be expected.
http://www.ots.treas.gov/glossary/gloss-i.html
The use of money to generate income and/or capital growth.
http://www.clericalmedical.co.uk/Business/Reference/Glossary.asp
The creation of more money through the use of capital.
http://www.clrfn.com/extras/glossary/exglostext.html
The utilization of money in the expectation of future returns in the form of income or capital gain.
http://www.indygov.org/eGov/City/BondBank/glossary.htm
Curt,
Fine, nice of you to point that out. LOL!
But you see, you are forgetting the loopholes and technicalities that are the basis of laws everywhere. This is the reason why criminals go free over such technicalities.
You get caught for selling drugs, but because the police did not have a court order to enter your home when they did or didn’t read you your Miranda rights before arresting you, poof, your free.
I am sure the EBL lawyer knows where the fine line is.
Loopholes and technicalities are what the U.S. Government is trying to do with E-Gold…which has many more lawyers with allot deeper pockets. Do not throw all your eggs into this basket, because they tell you they “Got it covered”….I heard that from tooo many HYIPs.
Relative to submitting ID docs, your SSN CAN be all someone needs for identity theft (www.ssa.gov etc etc)… don’t hand it out indiscriminately! You better know where it’s going, and that it’s being protected, eh?
In this arena, I wouldn’t give it to a soul!
Same here, I wouldn’t trust them with my ID documents. Some HYIP has all my personal data. No way, too risky.
IF EBL was a ponzi scheme, I’d agree. However, I trust that they are the real deal. Pensco Trust would not have approved them, if they weren’t a real business. Because I trust them enough with my money, I trust them enough with my information.
Like I said earlier, it all depends on how much you trust them. If you don’t trust a program with your ID documentation, then you shouldn’t trust them with your money, either. If you do trust them, then trust them with both.
Each person needs to decide for themselves whom they trust and don’t trust. It is a tricky thing to do when 99% of the programs are scams.
JMO,
Sharon
Does anyone know of a way to find out the owner of a cell phone if you know their number? I see many sites for reverse lookups for cell phones but they charge almost 100 bucks.
All of the free reverse phone number sites have a fee after you put in the phone number. Anywho.com or whitepages.com or any of that stuff does not work since you have to pay to get a report.
Are there any ACTUAL free ones out there?
Curt Jul 3rd, 2007 at 3:09 pm
In this arena, I wouldn’t give it to a soul!
THEN DON’T! WHAT YOU DO IS YOUR BUSINESS AND WHAT I DO IS MINE..SHOVE OFF.
Any update on when the new site will be up?
Nitro
People,
Don’t give those scammers your money or your ID documentation !
Instead ask them for their ID documentation.
I requested already 4 times for my money that should have been deposited on 21 july