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02-09-2008, 03:19 PM
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I can edit this?! Sweet!
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Join Date: Jan 2008
Location: BozAngeles, MT
1,362 posts, read 1,241,659 times
Reputation: 392
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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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02-09-2008, 11:06 PM
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Competition breeds winners
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Join Date: Sep 2007
16,121 posts, read 5,447,686 times
Reputation: 1637
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Quote:
Originally Posted by Radek
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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02-12-2008, 09:58 AM
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Senior Member
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Join Date: Jan 2007
Location: Michigan
177 posts, read 171,904 times
Reputation: 48
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thats sick
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02-12-2008, 10:09 AM
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I can edit this?! Sweet!
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Join Date: Jan 2008
Location: BozAngeles, MT
1,362 posts, read 1,241,659 times
Reputation: 392
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Quote:
Originally Posted by pghquest
Haha.. ooh please tell me people dont fall for this.
$1,500 Loan
$1,000 Proceeds
$500 LOAN FEE
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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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02-12-2008, 08:20 PM
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Senior Member
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Join Date: Jan 2008
Location: Maryland
1,271 posts, read 1,104,193 times
Reputation: 584
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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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02-14-2008, 10:12 PM
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Sunshine And Palm Trees
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Join Date: Mar 2006
Location: Minnesota
5,258 posts, read 1,769,975 times
Reputation: 7857
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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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02-15-2008, 04:05 AM
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Senior Member
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Join Date: Sep 2007
Location: Cary, NC
2,156 posts, read 2,251,323 times
Reputation: 818
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Quote:
Originally Posted by ESFP
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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Banks are exempt from regular usury laws. |
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02-15-2008, 02:12 PM
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Competition breeds winners
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Join Date: Sep 2007
16,121 posts, read 5,447,686 times
Reputation: 1637
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Quote:
Originally Posted by mystree
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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That or have no plans to every pay it back.. |
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02-15-2008, 04:15 PM
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Taipan
Status:
"NO to Obamacare"
(set 23 days ago)
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Join Date: Jun 2007
Location: Las Vegas, NV and NW of Florence Junction, AZ
21,152 posts, read 7,442,236 times
Reputation: 2923
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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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