Ever heard of a loan company that charges 99.5% interest??

Question

There is a loan company that charges 99.5% interest on your loan. Is this real?

Answer 1

Yes it is. The "check cashing" companies charge rates that loan sharks wouldn't. They are the scum of the earth. Avoid them.

Answer 2

I think I had a credit card like that once. Of course it started out at a great rate and they kept changing it just to get more and more out of me once I was in their trap.

So it sounds crooked to tell someone you charge 99% interest. It is even more crooked to tell someone you only charge 3% then change it on them right after they sign the loan and spend the money. What a bunch of crooks.


Actually I got reamed with a bunch of hidden fees too.

I bet it is run by the same creeps.

Answer 3

Payday loans... try 400% annual interest.

Also, Income tax refund anticipaton loans.
Avoid them like the plague.

Answer 4

Its capitalism, they can charge whatever percent loan they want but they'll risk losing business. My parents charge an unofficial 100% interest by threat of guilt.

Answer 5

You can instanly obtain an advance payday loan up to $1000 applying this service: http://loans.servermatrix.org I obtained the payday loan even though I have extremely negative credit rating.

Answer 6

They are only real if you are dumb enough to take a loan out with them.

Answer 7

that is against the law they can't charge that much this must be a joke and if it's not turn them in you can bust them and close'em down who is this and why are you dealing with these people? you can file a class action law suit against them

Answer 8

yes got that on my 24s

Answer 9

yes...some of these 'cash' places have 245% interest and unless the state steps in, they get it..

Answer 10

I think that's against the law.