www.Duck9.com |
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How Duck9 works
Nine fires and one bucket of water.
D.u.c.k. stands for Digital Underground Credit Knowledge. Duck9's perfect credit knowledge is undermined by false ads, urban legends and fear. Duck9 wants to shine a light in an industry that pays for a billion ad messages to distort the truth.
“Nine” stands for charge-off where a '9' on a credit report is a bad strike that means the loan was written off. The Duck9 concept was to help people avoid charge-off by (1) improving their credit, (2) refinancing their loan and (3) whittling down their debt. We learned that there was not enough water to put douse everyone's debt.
Water tossed on a strong fire can actually help propel it. Duck9 found that once you OWE you're DONE.
The unholy firestarter that rose to bank CEO.
Providian CEO Andrew Kahr said his 'problem' was to "squeeze out enough revenue and get customers to sit still for the squeeze." He added,
"Is any bit of food too small to grab when you're starving and when there is nothing else in sight? The trick is charging a lot, repeatedly, for small doses of incremental credit". Mr. Kahr has cashed out but his practices continue.
Duck9's mission appeared when we had a philanthropist heard about our portfolio of “houses on fire”. He looked through and wondered if HE could lend the money directly-to-the-consumer. His motivation was to lend money out at 15% versus his money market rate of 2%. The consumer would win too because he was paying over 18%. He then continued to cherry pick through our list of candidates and soon made more loans.
Peer-to-peer banking was born!
Duck9 now “cherry picks” the best consumers to lend money to. Obviously we help consumers, but now we also help lenders and take a cut of the savings.
Nine buckets of water and one fire.
1 of 10 college students owes over $1000. The goal of Duck9 is to keep the other 9 debt free.
There's a right side and wrong side to the interest rate equation. If you're lending money, your FICO score is likely going to be higher. We give you $100 to lend for FREE if you attend a four year university. You, as a college student, get paid either 9% or 12.8% and if you pick the 9%, you $100 that we give you is never at risk. If this is confusing, call us and we'll explain it.
Help yourself by committing five minutes a month by reading the Duck9 SMS / email messages for you next three years at college . Getting you to a FICO score of 750 is critically important to becoming debt free. You can live rent free within two years out of college if you're FICO is over 700. Learn the strategies on our website / messages so you'll be one of the nine that get debt free. REGISTER.
The big idea and how peer to peer banking grows.
The big idea: peer-to-peer money
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