There are no restrictions on the interest rate firms can charge. However, these firms don’t last long anymore. They tend to pop up, rake in as much cash as they can and then fold either before or after they receive a swarm of irresponsible lending complaints. Then the directors usually pop up with a similar company under a different name.
Edit: there are some rules as of 2018 – borrowers can’t be made to pay back more than 100% of the amount borrowed.
I love how it’s so specific. It’s not just 1255%, but ***1255.66*** on the dot
“Warning: late payment can cause you serious money problems.”
6 comments
Check the website they don’t exist any more
There are no restrictions on the interest rate firms can charge. However, these firms don’t last long anymore. They tend to pop up, rake in as much cash as they can and then fold either before or after they receive a swarm of irresponsible lending complaints. Then the directors usually pop up with a similar company under a different name.
Edit: there are some rules as of 2018 – borrowers can’t be made to pay back more than 100% of the amount borrowed.
I love how it’s so specific. It’s not just 1255%, but ***1255.66*** on the dot
“Warning: late payment can cause you serious money problems.”
“I’ve already got serious money problems….that’s why I’m fucking using you”
Why not? Helps me to pay a bill if I’m low a couple days before payday.
One of those almost ruined my life. I stay far away from any types of loans or finance now. Just not worth it.