Does 99.25% APR sound like predatory lending to you?

[EnviroBat]

Just saw one of these slimy "Get Cash Quick" commercials on television this morning. Did the math after pausing the fine print portion of the commercial on the DVR. A $2,600.00 dollar loan would cost the poor sucker close to $10,000.00. Shit like this should be prosecuted, not blazed all over the television. Interesting that these commercials air during a time of day when many unemployed folks are likely to be at home watching T.V.

These scumbags lending companies are a big part of the reason we are in the shitter. I think that the next time I see one of these ads, I'm going to call them an let them know where they can shove loan sharking shit.

[PetraPooh]

1. Better solution: Just call and tie up there phone line with fake interest.

You will keep them on the phone longer and hopefully keep someone else from getting through? I don't know just a thought.

[RB TexLa]

2. Except for the fact that there is no Annual PR on a loan of 14, 30 or 90 days

which is what these typically run. If you loan me $10 to buy lunch today and I pay you back $15 next week, I've paid a very hefty rate if I wanted to figure the APR on it.