Predatory loans

[mawilson 2,133]

Saw this ad on TV the other day and took a snapshot.

It's not a typo, it says

"The APR for a typical loan of $2,600 is 99.25% with 42 monthly payments of $216.55 with a $75.00 origination fee."

99.25%.

Seriously.

42 x $216.55 + $75.00 = $9,170.10.

3.5 times more than the original amount.

You'd think the subprime mortgage crisis would have taught them a thing or two, wouldn't you?

[panamania79 2]

Saw this ad on TV the other day and took a snapshot.

It's not a typo, it says

"The APR for a typical loan of $2,600 is 99.25% with 42 monthly payments of $216.55 with a $75.00 origination fee."

99.25%.

Seriously.

42 x $216.55 + $75.00 = $9,170.10.

3.5 times more than the original amount.

You'd think the subprime mortgage crisis would have taught them a thing or two, wouldn't you?

####### ?

Saw this ad on TV the other day and took a snapshot.

It's not a typo, it says

"The APR for a typical loan of $2,600 is 99.25% with 42 monthly payments of $216.55 with a $75.00 origination fee."

99.25%.

Seriously.

42 x $216.55 + $75.00 = $9,170.10.

3.5 times more than the original amount.

You'd think the subprime mortgage crisis would have taught them a thing or two, wouldn't you?

####### ? Oh,isn't that the one Gary Coleman used to be the spokesperson for ?

[~krakatoa~ 27]

That's preposterous!

[eric&gen 0]

Saw this ad on TV the other day and took a snapshot.

It's not a typo, it says

"The APR for a typical loan of $2,600 is 99.25% with 42 monthly payments of $216.55 with a $75.00 origination fee."

99.25%.

Seriously.

42 x $216.55 + $75.00 = $9,170.10.

3.5 times more than the original amount.

You'd think the subprime mortgage crisis would have taught them a thing or two, wouldn't you?

####### ?

Saw this ad on TV the other day and took a snapshot.

It's not a typo, it says

"The APR for a typical loan of $2,600 is 99.25% with 42 monthly payments of $216.55 with a $75.00 origination fee."

99.25%.

Seriously.

42 x $216.55 + $75.00 = $9,170.10.

3.5 times more than the original amount.

You'd think the subprime mortgage crisis would have taught them a thing or two, wouldn't you?

####### ? Oh,isn't that the one Gary Coleman used to be the spokesperson for ?

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

[mawilson 2,133]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

[eric&gen 0]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

[mawilson 2,133]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

These guys are like the Goose character from Steven's story (the guy who confiscated Jinky's check),

only they actually have enough money to advertise on national television.

I never expected to see this kind of ad on TV!

[eric&gen 0]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

These guys are like the Goose character from Steven's story (the guy who confiscated Jinky's check),

only they actually have enough money to advertise on national television.

I never expected to see this kind of ad on TV!

Spread the word i like to see this company go out of business very bad dont take advanage or Gary Coleman will screw you all in the azz at the end of loan term.

[panamania79 2]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

These guys are like the Goose character from Steven's story (the guy who confiscated Jinky's check),

only they actually have enough money to advertise on national television.

I never expected to see this kind of ad on TV!

They're ususally on after I get out of work at 12:30 am.

[eric&gen 0]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

These guys are like the Goose character from Steven's story (the guy who confiscated Jinky's check),

only they actually have enough money to advertise on national television.

I never expected to see this kind of ad on TV!

They're usually on after I get out of work at 12:30 am.

I used to see there ad played quite over and over not that much anymore makes my blood pressure rise hope to god no one borrows money from cash call or if they have a loan already pay it off early dont fall behind once you do its hard to bring the loan account current the interest builds up faster than the balance you owe lol.

[panamania79 2]

Spread the word keep clear of those fuxers they are bad take it from me i heard horrible stories about cashcall. No matter how desperate you need a loan not worth it. If you fall behind even a few days on a payment they will call you at your job and home they will threaten you harass you to death curse you they have very bad customer service reps who will also call you early as 5am if your behind on payment three or four times a day till you get payment caught up.

Hmm. As if the APR of 99.25% wasn't bad enough.....

I had a friend took out a loan from cashcall he will never do it again after his experience bad one they are like loan sharks lol.

These guys are like the Goose character from Steven's story (the guy who confiscated Jinky's check),

only they actually have enough money to advertise on national television.

I never expected to see this kind of ad on TV!

Spread the word i like to see this company go out of business very bad dont take advanage or Gary Coleman will screw you all in the azz at the end of loan term.

Ewww,I'm picturing that and it's not a pretty sight.

[rebeccajo 14]

I'm trying to figure out how this is even possible. Every state has usury laws............

These are their rates for the State of California:

$10,000 Loan 29.26% or

$10,000 Loan 59.46%

$5,075 Loan 70.08%

$2,600 Loan 99.25%

http://www.cashcall.com/General/Rates.aspx

According to this blog, the firm was founded by the same gentleman who founded DiTech.com

http://cashcallwatch.blogspot.com/

Edited March 15, 2008 by rebeccajo

[desert_fox 32]

Just about the same rate that H&R Block charges for an instant tax return loan...for ppl wha are desperate for money.

[greeneyedgirlfl 0]

Usurious interest like that should be illlegal...

[Caladan 19]

My completely ex recto guess would be that because they're a 'check cashing' place, they don't count as a institution governed by lending laws.