loans

[Vics128]

Iv just been looking on money supermarket for a good deal on re doing my loan.
I was just flicking through some of the loan offers, and came across an apr of 64.5%!!!! The repayments per month were �500, where the other companies were doing the same loan, but payind �160.
Its no surprise some people are in such incredible debt when companies can rip people of so shamelessly.
Sorry i just had to say something.. I think its disgusting!

[Ethel]

That's more than surprising!

Which company was it?

[Vics128]

The personal loan centre! BEWARE!!!!!!!

[Misty77]

It just shows thats there's always someone waiting to rip you off at the first opportunity. People like that should be ashamed of themselves.

[Oneeyedvic]

Why is it disgusting?

"the other companies were doing the same loan, but payind �160. " - well actually - I bet they wouldn't agree to a loan for the person having to pay 64.5%

A person paying that kind of APR has had (and probably still does have) severe problems with paying money back.

The reason they are in debt is nothing to do with the APR of this company - they are in debt, have not paid their commitments and now want to borrow more money.

People have to take resposnsibility for their own actions.

And please note that an APR of 64.5% can be misleading.

If I were to lend you �25.00 and you paid me back 2 weeks later and bought me a drink worth �2.50 - so total paid back to me would be �27.50, the APR would be over 300% - does that sound fair to you?

[Vics128]

Well I suppose when you put it like that. But evan so, if you are in loads of debt, and you are desperate for money, its still not very nice to have to pay so much more, ensuring that you never get out of debt.. evan though i understand that it was the persons own fault in teh first place.
You are too smart for me.........!