Got an "invitation" in the morning mail to borrow $7,500 - at only 20.18%

[old mark]

interest, or, around $200 per month for 60 months (=$12,000)...and I'm "pre-aproved"!!!

I must have "SUCKER" written on my forehead.

Who actually falls for this shit? Someone must, I guess...


mark

[Historic NY]

1. Sweet the sharks now offer invitations.

[hlthe2b]

2. Did they include a photo of "Vinnie" the collector?

seems only fair to do so. ;)

[old mark]

4. This guy''s name is "Bennie"....

Might be a cousin?


mark

[Shagbark Hickory]

3. Depending on the amount of college tuition

You could use offers like this to pay for tuition then -whoopsie- file for bankruptcy.
You could weigh the cost benefit of bankruptcy vs the appreciating asset that is education.
It beats slingin' rocks to get somewhere in life.
Not so great for financing a flat screen tv.

Unlike student loans which cannot be discharged in bankruptcy, unsecured debts like this high interest loan can be.

[old mark]

5. They never made offers like this when I was in college, though...

I went back to school in my late 40's, and at age 63 I'm using social security to pay off my student loan.

Education is wonderful - some people make tons of money on it.

mark

[Shagbark Hickory]

7. Well there was a storm of credit card offers swirling around campus when

I was in school. They would recruit other students to get you to sign up.
I used credit cards to pay for living expenses but like an idiot I paid the balances off eventually.

[liberal N proud]

6. But didn't it make you feel good to know that someone was willing to loan you money?

:sarcasm:

[NNN0LHI]

8. Someone must, you guess?

I don't think they would be sending them out if there weren't a lot of takers out there?

Just a guess, though.

Don

[mstinamotorcity]

9. Well if you go for it,

I have this bridge I want to sell you real cheap I won't even charge you interest. Hell it will be a bargain basement deal for sure. I will make you an offer of let's say $7,000. You don't need that extra five hundred. See I am giving you the deal of a lifetime!!! lol lol lol

[old mark]

10. I got too many bridges already...

they were all great deals, though....


mark

[mstinamotorcity]

12. Predatory Lending

is in full effect. There are a lot of people who do not understand the principles of lending and credit. Please just remember to let our young adults ( lack of knowledge) and Seniors (most vulnerable) know they are out there. They always make it an offer you think you cannot refuse.There was a credit card that was being given out in our community with a 69.5 rate. Oooo THATS SCARY!!!!

[old mark]

13. Amazing that that is even legal...fucking republicans....!!! nt

[mstinamotorcity]

15. Thats not all the Predatory Lenders

do in urban areas. They take the most vulnerable and the least likely to fuck over. Most of the time we can't catch them until they have made off with what little the people have left.

[malaise]

11. We got one of those just before Christmas

with 27% interest. Did we ever laugh.

[old mark]

14. I guess the rates came down.....nt

[Statistical]

16. Quantitative Easing by the fed.

Even is affected the spread on loan sharks. :)

[Capitalocracy]

17. Interesting how consumer interest rates are going up...

while the banks are borrowing at basically zero or even negative interest rates...

hmmm...