If some bank would take 35% interest for their loans, what would you do? And do you support the bank systems?

Answer 1

We now have a banking mafia, bloodsucking off American Citizens. In 1970, in Illinois, if you charged 11% when loaning money, you were subject to arrest on charges of being a loan shark, and therefore part of the Mob, for it was considered too difficult for anyone to pay back a loan with that kind of interest. Today, depending on the circumstances, Americans are charged up to 3 times that much interest for their credit cards. Americans are drowning in this kind of debt completely unable to even pay the interest, let alone get to the original loans. How is it conceivable that this is legal anywhere, but most especially in the United States!
Obviously our Congress is in bed with these mobsters or this would never have been allowed.

Answer 2

If a bank wanted to charge me that much interest, first off I would find out if it's legal in the state of my residence. Many states have a capped limit on the interest.
2 of all I would see if i could take that loan in put it into a lower interest loan. Even a 25 percent interest loan that's still 10 cents on every dollar you would be saving.
yes I support the banking system.

Answer 3

I would definitely find a different bank....that would be an outrageously high rate! We do need the bank system though as there are very few people that can pay for expensive items with cash like cars and homes.

Answer 4

i would just save my money and not use them if it was 35% i do support the banking system i don't get loans i pay cash

Answer 5

I'll lend money to anybody at 35%, as long as I am satisfied with the security. And yes, I fully support the banking system. Somebody has to intermediate between people who have capital and people who want it.