Should you pay credit card debt with a P2P loan?
News from Fox Business:

Although interest rates are at historically low levels, even the best credit card rates remain in the double digits. So if you’re grappling with credit card bills, it can sometimes seem insurmountable to dig out of debt.

To slash borrowing costs and more quickly eliminate debt, consumers are increasingly using alternative repayment strategies, including peer-to-peer lending.

Peer-to-peer or P2P lending – also called social lending and person-to-person lending – involves one individual, or “peer,” loaning money to another person, without a bank acting as the middleman.

Peer-to-peer lending is a $ 1 billion industry, experts say, with loan volume in 2012 expected to triple as banks continue to tighten their credit policies and make it tougher for Americans to obtain traditional loans.

But should you use a peer-to-peer loan to pay off your
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Gloucester Township couple charged in credit card theft, use of card in Deptford
News from Gloucester County Times – NJ.com:

GLOUCESTER TWP. — A YouTube video posted by police, allegedly showing a man using stolen credit card, has led to the arrest of two people in the case.

The incident occurred on Oct. 17, when a wallet was stolen at the Gloucester Township Library, said police. A man then used a credit card from that wallet at a Walmart store in Deptford Township, police said.

The security video from the store was posted on YouTube on Oct. 26, with a request from police for help identifying the man.

An anonymous tip was received on Oct. 28 and that led detectives to the Scenic Falls Apartments in Blackwood and David Council.

Gloucester and Deptford detectives determined that Council allegedly stole the wallet and used the stolen credit card at Walmart and nearby Dick’s Sporting Goods in Deptford, police said.

A woman, identified as Amber Council, was also seen in the video. It turned out she has an outstanding warrant for her arrest, police said.

…………… continues on Gloucester County Times – NJ.com
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