Help for Help – Project

Hi Everyone

Here comes my second project, something I was thinking of for a long time actually. There are thousands of families struggling with debts which they cannot pay off, most of the time it is only due to a fact that their income does not exceed the amount of debt itself yet they are still being charged with various fees etc. They are dreaming about being debt free like all of the others and willing to do a lot to get there but so far cannot achieve that, all that they are being offered is free advice but to be honest an advice does not pay your bills ! I have often been thinking what if they were given a chance, just one chance to have their debts paid of for them ? Sounds crazy right ? Well not as much as you might think, it does not come for free (nothing in live does) but it comes at a price they can afford, they would work in return ! My idea is to create a project where people would have the opportunity to pay / donate money which would then be used to pay off someone elses debt, in return the debtor would have to donate a certain number of hours which would be used to help the donators in some simple tasks required (gardening, help with shopping, taking dog out etc.) the exchange rate would be £10 for one hour of work. The person donating would have a certain number of hours to use (should they wish to) and the person in debt would have their debts paid off. It would be a one off offer so all debtor would be registered, only debts up to certain amount of money would be paid off (so no house mortgage paid offs etc.) the most important would be a fact that every debtor would be given his own unique number and he could then use other family members to help him work the hours off. As it would be a project which will be charity based, all people / companies donating money would be able to expose that in their TAX return forms. The amount which I am trying to collect would allow me to setup the company, cover all legal costs as I would have to consult with solicitors to ensure that there is no risk (or that it is kept at a minimum level), establish rules and conditions to ensure the smooth running process, cover the initial cost of employees (as not everyone donating would require help we could use the hours to have our debtors helping us running the project), surely I will have to register it with the financial services as I would be dealing with money, setup of the website which would allow everyone to get registered in order to get help, plus office rent and equipment needed. Lastly I would also cover the cost of the advertisement so people would know that they can be helped as opposed to being told how to help themselves. Any additional income would be re-invested in paying off debts of others.   I don't want to tell them that they will be debt free in few years, I want them to be debt free and get on with their lives.   Feel free to ask if you need any more info.

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Al