2006-06-27 17:22:34 · 8 answers · asked by raider rob 1 in Business & Finance ➔ Credit
Well...depends on where this loan is coming from. I would stay away from it if you have to pay back $2,000 plus interest. If you pay back $1600, then you might be ok. Is this for a car or something?
I've seen plenty of buy-here pay-here car lots that do that. The car is $2,000, you're approved, put $400 down and make payments on the rest. You miss a payment, they get the car back and repeat the process.
Or like credit cards for people with really F'd up credit....Here's a $2,000 credit card, but they make you put down a $400 deposit, plus pay all kinds of maintenance fees, annual fees, membership fees, and miss a payment, jack your rate up to 24.99%.
So it could be plausible from a reputable company, but I'd read the fine print!
2006-06-27 17:39:04 · answer #1 · answered by Anonymous · 2⤊ 2⤋
This is a scam
You send the $400
You wait for your $2000 to come in the mail.
You grow old
You finally figure that you are not going to get the money, and you have lost $400.
2006-06-27 17:32:22 · answer #2 · answered by fire4511 7 · 0⤊ 0⤋
Your being scammed. Stay away from something like that. It is like winning a prize but have to pay something to get it. Tell them to take a hike. If you need the loan go to a bank.
2006-06-27 17:31:17 · answer #3 · answered by John C 1 · 0⤊ 0⤋
RUN! This is a scam, and once they get your $400, you won't hear from them again.
2006-06-30 05:33:35 · answer #4 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
no because you will be getting only $1600 or you will be paying back 2400 don't do it
2006-06-27 17:29:05 · answer #5 · answered by happygirl 1 · 0⤊ 0⤋
No. It doesn't. I think you ought to look for a different lender.
2006-06-27 17:31:55 · answer #6 · answered by Andrew B 2 · 0⤊ 0⤋
yes, total scam
2006-06-27 17:26:08 · answer #7 · answered by Armando 3 · 0⤊ 0⤋
S C A M !!!!!
2006-06-27 17:25:23 · answer #8 · answered by Campbell Gramma 5 · 0⤊ 0⤋