You 'avin a larf?
We've all seen these adverts for short term 'Pay-Day' loans, but if your credit's that bad that the Acme High Street Bank won't offer you a short term loan, why on earth would you borrow from this bunch of wide-boys.
You'd think that anyone seeing adverts for money at an Annual Percentage Rate (APR) of FIVE THOUSAND, FIVE HUNDRED, AND SIXTY NINE PERCENT would take to the hills. But these adverts are becoming more and more common, so I imagine that desperate clients are queueing at their doors.
Cro's advice: Don't borrow money at 5,569%. That's it. Nothing else to say. No more discussion. End of story!
My thoughts exactly Cro. Maybe the weren't listening on the day they did percentages at school.ReplyDelete
It is hard to believe that these guys are legal in England (at least; other countries may be more sensible).ReplyDelete
Presumably the proprietors of 'B. Rokenbones Finance of Essex Ltd' remove their knuckledusters when tapping at a keyboard, checking on their online empire.
The mere existence of this "industry" is the true indicator of the state of the economy.
Interest owed must accrue faster than the interest earned William Gates' Post Office Savings Account.
The t.v. adverts always show people bouncing and dancing out of the loan-shark's offices, laughing (probably hysterically) and out of thier minds with glee at having 'secured' a loan! Incredible.ReplyDelete
The 'government's' excuse for allowing these criminals to operate is so that they can keep an eye on them, but they do not stop them from lending to people who actually have no 'pay day', and are unlikely to pay them off by the end of the month anyway.ReplyDelete
Makes about as much sense as the US borrowing money from China, Cro!ReplyDelete
Loved your comment, Donna!!!Delete
Imagine the desperation of someone driven to use one of those places.ReplyDelete
Geez Cro...is that for real?ReplyDelete
Hard to believe, but this is just one of many who advertise these crazy rates of interest.Delete
As you said, the desperation of people can cause people to do foolish things.ReplyDelete
These guys are today's version of the Provident - there's always someone to take advantage of desperation. Yes, avoid like the plague!ReplyDelete
It's too bad these outfits are legal anywhere. Talk about taking advantage of the down and out.ReplyDelete
We have 10 of these in my small town, which tells you they are fodder for our poor and down and out here. At one time, our state government was trying to outlaw these, don't know what happened there.ReplyDelete
Avoidance is the only way, like everyone here says.
We have them over here too,the other weird one is buy now, no payment till 2016 the piece of furniture will be worn out!!! and people do it by the droves.ReplyDelete
It' scary what people get themselves into. We've never had a lot of money to throw about, but we've never had to walk in those shoes either.ReplyDelete
the poor are always people that are taken for a ride cro....Delete
This made my jaw drop.ReplyDelete
Shame on them.
A plague upon them all, T.Delete
You have got to be desperate to do this. I am with you, turn around and run!!ReplyDelete