Would you take out a loan at 793.8% APR?

[hunterhilman]

They prey on people specially at Christmas who are vulnerable and desperate and who may never be able to pay it back and then they are allowed to take out another loan to try and pay of the existing one which is crazy and illegal anyway

[Stephanie]

In US there have been prosecutions and convictions re such predatory lending.

There used to be a sea of 'pay-day loans' outfits : you'd sign over your paycheck for a fractional loan , or be obliged to hand in

your paycheck as obligatory repayment. Once such loan is taken out , never get out from under it.

Usually the young and inexperienced , the older and feeble , or the immigrant community who fall prey (<< not having a bank acct) .

Should be illegal altogether -- everywhere imo xx

[Stephanie]

*** I just saw this. Good find , Dob x

[funlover12]

just sell your ass, much cheaper too, and no interest fees to think of.

[HairyPotter]

just sell your ass, much cheaper too, and no interest fees to think of.

What if no one wants to buy FL

[funlover12]

What if no one wants to buy FL

reduce you prices and increase time

[talkabout]

In US there have been prosecutions and convictions re such predatory lending.

There used to be a sea of 'pay-day loans' outfits : you'd sign over your paycheck for a fractional loan , or be obliged to hand in

your paycheck as obligatory repayment. Once such loan is taken out , never get out from under it.

Usually the young and inexperienced , the older and feeble , or the immigrant community who fall prey (<< not having a bank acct) .

Should be illegal altogether -- everywhere imo xx

Desperate(and probably non-numerate at the same time ) people take desperate measures,including enriching the pockets of u usurers.Called pay day loans in England{as mentioned here}.
Once hard an American woman on radio, who took out a $5,000 loan to redecorate her house(hse as security).
Couldn'tmake repayments -lost house.
I'ld say fuck interior decoration(and the interior decorator )before I'ld let that happen.
{I'ld prefer to lose the house ~and the shirt off my back ~over indulging in sex,drugs and rock & roll.