>We think the average APR is around 15,000% but we’ve seen it go as high as 4.5 million.” –
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Shit on me. I mean not literally, but bloody hellfire.
Can we just have an article for the few industries **not** cashing in on the cost of living crisis? Seems like it would be much less work
A few years back I used to live in a not too affluent area of town. By no means was it a bad/rough area, just not a lot of money. Well every day without fail we’d have leaflets through the door offering a few quid before payday, never any APR’s or anything on them.. you just knew the second you were in debt to these people you’d never be out of it. I feel so sorry for those that have no other choice.
One thing I’ve never understood about loan sharks.
They are lending money illegally, so the victim doesn’t legally owe them the extortionate interest they are claiming.
So if they are using threats of violence to force people to pay money they don’t actually owe, why bother with the loan in the first place? Why don’t they just pick some random vulnerable person and demand money for nothing?
4 comments
>We think the average APR is around 15,000% but we’ve seen it go as high as 4.5 million.” –
​
Shit on me. I mean not literally, but bloody hellfire.
Can we just have an article for the few industries **not** cashing in on the cost of living crisis? Seems like it would be much less work
A few years back I used to live in a not too affluent area of town. By no means was it a bad/rough area, just not a lot of money. Well every day without fail we’d have leaflets through the door offering a few quid before payday, never any APR’s or anything on them.. you just knew the second you were in debt to these people you’d never be out of it. I feel so sorry for those that have no other choice.
One thing I’ve never understood about loan sharks.
They are lending money illegally, so the victim doesn’t legally owe them the extortionate interest they are claiming.
So if they are using threats of violence to force people to pay money they don’t actually owe, why bother with the loan in the first place? Why don’t they just pick some random vulnerable person and demand money for nothing?