APR 99.9% For A Loan!
Other
Yes, you read that right! I thought that these crooks of loan companies, or loan sharks as I call them, had been clamped down on, and had also stopped advertising on TV, but I've just seen this one tonight, I missed the name as I was reading the small print, but this woman actually said it, APR 99.9% she said!! How can these poor people who are desperate enough to borrow money in the first place, possibly pay it back, I am sooo shocked I can't tell you, these evil people should be put in jail!
How is that even allowed? I thought they had to be responsible when lending now.
Midnightflower So did I!! 
I couldn't believe what I was seeing last night, 
surely that can't be legal?
I just thought I'd put in a quick search and OMG Look! I've just found them!
JoTarpley it's awful and makes me really angry. Anyone desperate enough to apply for such a loan clearly is not in a good place.
Midnightflower I'm finding it really upsetting to be honest, with so many people 'being in a bad place' nowadays, this would tip you over the edge, these evil people just prey on the desperate with absolutely no conscience! 
x
Only use for this loan would be if I was dying and had no assets or intentions of paying a penny back.
I guess with interest rates going up from less than 1% to over 5% these rip off rates are maybe 20x the base rate so 0.5% x20 is 10% but 5% x20 is 100%.
People shouldn't be able to borrow such huge amounts of money unless secured. Unsecured loans should only be about £1000 max in my opinion per person. The courts are full of so many claims for non-payment/arrears etc. Credit is far too easy. If you capped interest rates too these companies would be far more careful who they loan money to too as they would only loan money to people who could repay more easily. That 100% interest rate is probably because quite a lot of people will default on payments or end up not paying the full amount.
That rate is disgusting. Also the channel taking payment from the loan company advertising is just as bad, no morals.
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