Need money to pay debt ? Go for cyber begging

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Need money to pay debt

Call it cyber begging.Its a way of asking for money online from strangers to meet one’s immediate and pressing needs such as food, shelter, education and payment to debt.

And believe it or not,many people are queuing up to beg money on line.

This on line begging was facilitated by the success of a website “SaveKaryn.com” .Its owner Karyn Bosnak asked for the public help to pay an enormous credit card debt.

The theory that went behind it was simple. Asking for a small amount of money from a large number of people can be an easy way of getting out of such a monetary predicament since people can always have a few dollars to spare.

Oflate,several websites have sprung up.Most of them are of a similar nature and offer a platform for people seeking money from the general public if they are in desperate need of it.

These websites allow the payments to the ‘panhandlers’ to be made via Paypal accounts or Amazon.com.

Many countries have strict laws against cyber begging.Some need people to specify why they need the money to avoid malpractices. Some other sites have come up in India that enable people to finance their own businesses or pay off their loans.

Another corollary that has developed of late and works on similar lines is the concept of ‘crowd-funding’ where a person with an idea for a business or a proposal for a business can ask a crowd to finance their projects, sometimes in return of certain advantages to them. The only catch is that one has to make people genuinely believe in his/her idea to get a large funding from a crowd of strangers.

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