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Uncrunch America with Change.org

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While most blogs are probably planning their New Year's Resolutions, I'm taking action. I just voted to support Uncrunch America campaign in Change.org's Solving the Credit Crisis From the Bottom Up. That's quite a mouthful (or is it ten-fingersful since I'm typing?). Allow me to explain a bit.

Obtaining credit is getting more and more difficult in this country. For so long, it was really easy to get credit - too easy. We found that out all too well with the sub-prime mess. In an attempt to right the wrongs, lenders have over-corrected... they are requiring pristine credit scores to lend. "Once bitten, twice shy" isn't just a Great White song to them. Uncrunch America has a plan to solve that.

Uncrunch America is looking to get people to lend to other people. If you think this sounds like peer-to-peer lending, you are right, Lending Club is one of Uncrunch America's partners. It's not just Lending Club though. Supporters also include Credit Karma (of which I should note has a great credit blog that tell me what is a good credit score) and popular online budgeting tool, Geezeo - two companies that I've talked with extensively in the past. Throw in On Deck Capital lending to small businesses and a public relations firm and you've got an organization with some clout.

However, some clout isn't always enough. This is where Change.org comes in. This nonpartisan group is simply trying to create a platform where the people can vote on ideas of change. The Top 10 ideas will be presented to Barach Obama on Inauguration Day, January 20, 2009. After that Change.org supports an organization (in this it would probably be Uncrunch America) in getting the idea implemented. The details of all this are a little fuzzy to me, but you can read the FAQ here.

So if you think that this idea for helping make credit available should get Barack Obama's attention, please vote for Solving the Credit Crisis From the Bottom up at Change.org. I would stress that this is the last day for round one (I just heard about the campaign myself), so you may have to put down your champagne for a minute or two. However, it's close to reaching round two, and if it does votes there will be appreciated as well. Sadly, you do have register for the site, but the sign-up form is 4 input boxes and took me about 45 seconds of my time. I figure it's the least I can do to give the idea a shot.

Last updated on August 1, 2011.

This post deals with:

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Credit, P2P Lending

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8 Responses to “Uncrunch America with Change.org”

  1. Kenneth Lin says:

    This is a great idea and shows how everyday people can contribute to solve a greater problem.

  2. Matt SF says:

    Pretty cool idea… I knew social lending was going to be big but didn’t think it would hit the political scene.

    Perhaps this could expedite Prosper’s silent period???

  3. If change means more credit available to business, I’m all for it. If you are speaking of re-opening the free flow of consumer credit, count me out. Perhaps change.org could support a campaign for once and for all curing American consumers of their credit addiction?

  4. Doctor S says:

    I think its tough to get consumer credit b/c too many people messed up with it. I agree with Mr. TML, making more credit available for all scales of business is a great idea. I really do think this group is a great idea and has a great purpose and looking forward to seeing more of the details.

  5. Matt SF says:

    @ Mr. TML and Doctor S,

    While I agree 100% with both of you that credit for businesses is a good thing, I do think that some credit should be expanded for worthy borrowers. These would be folks who didn’t gag themselves on cheap credit when it was available and have a credit score > 700.

    Some of the borrowers actually go to sites like Prosper or Lending Club to specifically sidestep the major credit card lenders b/c they can get a much better rate and they want to give money to real people instead of big business. Many in this segment of borrowers can get personal loans in the 5-7% range, versus paying a double digit interest.

    As you can probably discern, I’m a lender at Prosper. When done correctly, it’s very profitable.

  6. Steve Rabago says:

    There is another option to taking action.
    ZimpleMoney’s web product enables people or organizations to make and manage direct p-2-p loans. ZimpleMoney is focused on “naturally” occurring networks like family, friends, churches, schools, organizations, non-profits, charities and foundations. ZimpleMoney sends bills, receive and distribute payments, post to loan ledgers, sends late notices, sends alerts as to the status of billing and collection process and provides tax records. We also provide a digital document management tool to upload files. Take a look at our site at http://www.ZimpleMoney.com Zimpley, Steve Rabago, ZEO ZimpleMoney

  7. LornaM says:

    Agree with Matt SF.

    Creditworthy borrowers should not be impacted by the credit crunch caused by greedy bankers and stupid subprime people who knew nothing about what they were getting into.

    Even more, creditworthy people SHOULD not pay higher interest rates in their credit cards or other loans to compensate mistakes of others.

    Obama should know about this idea.

  8. LornaM says:

    Agree with Matt SF.

    Creditworthy borrowers should not be impacted by the credit crunch caused by greedy bankers and stupid subprime people who knew nothing about what they were getting into.

    Even more, creditworthy people SHOULD not pay higher interest rates in their credit cards or other loans to compensate mistakes of others.

    Obama should know about this idea. Vote:
    http://www.change.org/ideas/view/solving_the_credit_crisis_from_the_bottom_up

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