 How desperate would you have to be?
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Joined: Jan 2005
Posts: 9,223
Big Bore
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OP
Big Bore
Joined: Jan 2005
Posts: 9,223 |
I just saw an ad for a company called CashCall.com that will loan you up to $5075. Check out the interest rates!! 
"Never underestimate the power of human stupidity" - Robert Heinlein
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 6,821
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,821 |
And you only repay $21,338.52.
Contra todo mal, mezcal; contra todo bien, también
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Re: How desperate would you have to be?
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Joined: Nov 2006
Posts: 1,302
Learned Hand
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Learned Hand
Joined: Nov 2006
Posts: 1,302 |
what a bunch of thieves, 96% interest. Who would be so foolish to agree to those terms  mike
2006 neon blue speedmaster
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 1,457
Learned Hand
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Learned Hand
Joined: Jan 2005
Posts: 1,457 |
After they get tangled up in that loan they go here to borrow money to pay it off. www.prosper.com
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Re: How desperate would you have to be?
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Joined: May 2007
Posts: 252
Adjunct
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Adjunct
Joined: May 2007
Posts: 252 |
$5,075 wouldn't even buy a new BA. And that would be the closest thing for a justification.
He was fun while he lasted.
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Re: How desperate would you have to be?
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Joined: Jun 2007
Posts: 3,402 Likes: 7
Loquacious
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Loquacious
Joined: Jun 2007
Posts: 3,402 Likes: 7 |
There will always be some poor sap desperate for the cash .. 
"You can't believe everything you read on the internet" : William Shakespeare
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 12,164 Likes: 1
Should be Riding
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Should be Riding
Joined: Jan 2005
Posts: 12,164 Likes: 1 |
It's called "Getting deeper in debt by trying to get out of debt".
Soren
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Re: How desperate would you have to be?
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Joined: May 2007
Posts: 6,432 Likes: 1
Worn Saddle
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Worn Saddle
Joined: May 2007
Posts: 6,432 Likes: 1 |
I cringe everytime I think about October's upcoming adjustment to the millions of sub-prime mortgages. They're the same snake oil salesmen working both sides of the street...
A positive attitude may not solve all your problems, but it will annoy enough people to make it worth the effort. Herm Albright (1876 - 1944)
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 3,734
Loquacious
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Loquacious
Joined: Jan 2005
Posts: 3,734 |
We have a bunch of those payday loan places in Tucson that prey on the poor. They had a story in our local paper where some mentally challenged guy was just raped by one of these high interest places. They kept rolling over his loan to the point where he was left with about $10 out of his paycheck. The guy was literally starving.
These companies are the worst sort of vermin around. They try to suck every last dime out of the most disadvantaged people in this country.
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 1,457
Learned Hand
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Learned Hand
Joined: Jan 2005
Posts: 1,457 |
It's funny seeing Gary Coleman doing the commercial for cash call. I guess when you are at the lowest point on the rung you'll do anything for a buck.
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 12,164 Likes: 1
Should be Riding
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Should be Riding
Joined: Jan 2005
Posts: 12,164 Likes: 1 |
Quote:
It's funny seeing Gary Coleman doing the commercial for cash call. I guess when you are at the lowest point on the rung you'll do anything for a buck.
He's doing the comercials in trade to pay off his loans 
Soren
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 6,821
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,821 |
Ah, the benefits of deregulation 
Contra todo mal, mezcal; contra todo bien, también
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Re: How desperate would you have to be?
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Joined: Jan 2006
Posts: 7,693 Likes: 22
Monkey Butt
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Monkey Butt
Joined: Jan 2006
Posts: 7,693 Likes: 22 |
People deserve the deals they make.  If somebody can get that kind of interest from somebody so stupid to do it, so what. The damage to economy is severe, but it corrects itself. Once the customers stop paying the lenders will stop lending. The danger is somebody will figure how tax dollars need to bail it all out once it all falls apart on the rich money lenders.
I try to aggravate one person a day. Today may be your day.
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 6,821
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,821 |
Well, that's all true enough Ron.
The problem is that some of the people who use them aren't so much stupid as desperate.
I just don't like the idea of usury.
Though at least they're (so far) legally prohibited from breaking legs if their customers don't pay.
Contra todo mal, mezcal; contra todo bien, también
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 418
Adjunct
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Adjunct
Joined: Jan 2005
Posts: 418 |
Quote:
Who would be so foolish to agree to those terms
My ex wife for one 
Nil Illigitimous Carbarundum
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 2,664
Loquacious
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Loquacious
Joined: Jan 2005
Posts: 2,664 |
Phil,
I'm gonna cash out my PSA and start loaning money! I didn't know those rates were legal....
My precious bride thinks that if we borrow enough money, we'll eventually get out of debt.
Ride Safe,
Dennis
Triumph, it's how I live and what I ride.
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 3,954
Loquacious
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Loquacious
Joined: Jan 2005
Posts: 3,954 |
I'm sure the leg breaking is outsourced to an independant 3rd party firm just to keep it all legal and above board...
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Re: How desperate would you have to be?
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Joined: Jan 2006
Posts: 7,693 Likes: 22
Monkey Butt
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Monkey Butt
Joined: Jan 2006
Posts: 7,693 Likes: 22 |
You are right Bill, they are being exploited. As above though, the leg breakers are not part of it. If this stuff did not exist these same people would go to the other money lender. The one that does break legs. Or they would do crime as a way to solve the desperate situation they are in.
I try to aggravate one person a day. Today may be your day.
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Re: How desperate would you have to be?
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Joined: Jan 2005
Posts: 6,821
Bar Shake
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Bar Shake
Joined: Jan 2005
Posts: 6,821 |
Yup, that was my point exactly.
Contra todo mal, mezcal; contra todo bien, también
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Re: How desperate would you have to be?
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Joined: Feb 2005
Posts: 20,096 Likes: 2
Fe Butt
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Fe Butt
Joined: Feb 2005
Posts: 20,096 Likes: 2 |
Quote:
It's funny seeing Gary Coleman doing the commercial for cash call. I guess when you are at the lowest point on the rung you'll do anything for a buck.
What chu talkin' 'bout...umm...Matt?! After his NBA tryout didn't quite pan out(scout's report: "Fair ball handler...Can't dunk"), what the heck did you expect him to do anyway?! 
Yep! Just like a good Single Malt Scotch, you might call me "an acquired taste" TOO.(among the many OTHER things you may care to call me, of course)
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