- Rant and Rave (564)
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CashCall…
Sitting in my room yesterday I saw an ad for CashCall, one of those “You need money, we’ll screw you over but good!” places and their disclosure flicked by in the typical 4 pt font and 2 seconds to read small print. I wasn’t paying too much attention to the tube but I swore I saw 99% interest listed. I didn’t think any company could possibly advertize a rate that insanely high so I checked out their web page….
Sadly, I wasn’t wrong:
Let’s do that math; If you live in California and you borrow $2,600 from CashCall you’ll end up paying them BACK $9,095.10. If you’re stupid enough to borrow $5,075 you’ll end up paying $24,738 back to these bloodsuckers.
Just for shits and giggles I’m including the rates for my state, Florida:
141.42%! Is that even legal?!
Hawk (NOT borrowing money from them!)
May 23, 2008 at 1:59 pm
Checkmate!
http://www.youtube.com/watch?v=iAKJKBCyPUY
May 23, 2008 at 5:38 pm
When people enter those check cashing places they ought to get knocked to the ground and slapped around a bit before they get the money — at least then they’d know that they’ve been robbed.
141%?!?! That’s fucking USURY.
May 26, 2008 at 1:44 am
I’m just amazed that it’s legal for them to charge over 100% interest. Hell, the Mob doesn’t charge that much!
May 29, 2008 at 9:32 am
thats absolutely insaine! cant believe youd be desperate enough to do that!
i thought there were laws about that for each state… thats why a good chunk of credit cards are headquartered in delaware becuase delaware allows them to charge higher interest rates..
oh well.. shows what i know!!!
June 12, 2008 at 12:07 pm
ilive in md
Admin Note:
Damned spammers