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Old 02-09-2008, 03:19 PM
I can edit this?! Sweet!
 
Join Date: Jan 2008
Location: BozAngeles, MT
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Default Anyone up for a loan?

I caught a glimpse of the APR on the Ad on TV.

Well, here's the full thing:

Rates

Oh yes, 60% APR!
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Old 02-09-2008, 11:06 PM
Competition breeds winners
 
Join Date: Sep 2007
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Quote:
Originally Posted by Radek View Post
I caught a glimpse of the APR on the Ad on TV.

Well, here's the full thing:

Rates

Oh yes, 60% APR!
Haha.. ooh please tell me people dont fall for this.

$1,500 Loan
$1,000 Proceeds
$500 LOAN FEE
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Old 02-12-2008, 09:58 AM
tcb
Senior Member
 
Join Date: Jan 2007
Location: Michigan
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thats sick
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Old 02-12-2008, 10:09 AM
I can edit this?! Sweet!
 
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Location: BozAngeles, MT
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Quote:
Originally Posted by pghquest View Post
Haha.. ooh please tell me people dont fall for this.

$1,500 Loan
$1,000 Proceeds
$500 LOAN FEE
Im sure people do. Im absolutely positive.

Check out the $10k loan.

The bank reaps in like, $60k over the life of the loan.
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Old 02-12-2008, 08:20 PM
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Location: Maryland
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Over 60% per annum is considered loan sharking. Can this 60% - 100% APR lender legally break body parts if you don't repay? I'd ask how this obvious scam is legal to be on TV, but there are also commercials on Reverse Financing and Kinoki anti-toxic foot pads...
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Old 02-14-2008, 10:12 PM
Sunshine And Palm Trees
 
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I think someones smokin crack on the job. You would have to be pretty darn desperate
to agree to those terms.
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Old 02-15-2008, 04:05 AM
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Quote:
Originally Posted by ESFP View Post
Over 60% per annum is considered loan sharking. Can this 60% - 100% APR lender legally break body parts if you don't repay? I'd ask how this obvious scam is legal to be on TV, but there are also commercials on Reverse Financing and Kinoki anti-toxic foot pads...
Banks are exempt from regular usury laws.
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Old 02-15-2008, 02:12 PM
Competition breeds winners
 
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Quote:
Originally Posted by mystree View Post
I think someones smokin crack on the job. You would have to be pretty darn desperate
to agree to those terms.
That or have no plans to every pay it back..
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Old 02-15-2008, 04:15 PM
Taipan
Status: "NO to Obamacare" (set 23 days ago)
 
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Location: Las Vegas, NV and NW of Florence Junction, AZ
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There is no usury law in the State of Arizona.

We have some Check Cashing / Payday loan companies charging upwards to 800% - Yes, I said, 800%!
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