Firestone Financial - Good or Bad?

never-in-doubt

Firestone Financial - Good or Bad?

Hi

Anyone used this firm before?

Just received an email offering me £1500 NOW at a monthly rate of 8% which is high, but not necessarily that high for payday type loans....

Anyway, just wondered what peoples thoughts were and whether they have been used/tried/tested?

http://www.firestonefinancial.co.uk/index/44/712/1/loan/list3/

Enfieldian

They appear to be a "broker" of sorts....

I take that the £1500 is the maximum, in all likelihood you may be offered a lot less, especially the first time around.

iolanthe07

A monthly rate of 8% - !!!!!!? This is downright usury and should be illegal. Could you not borrow from friends or family? Or do without? Almost anything, other than a loan shark, would be better than this.

never-in-doubt

iolanthe07 wrote: »

A monthly rate of 8% - !!!!!!? This is downright usury and should be illegal. Could you not borrow from friends or family? Or do without? Almost anything, other than a loan shark, would be better than this.

Trust me it is not that bad at all for a payday loan! So for payday loans you currently pay what, £25 fee for £100 loan? = £125 repayable....

The same math: £100 + 8% (£8) = £108.....

Ermmmm, I didn't want this I simply highlighted it to people and asked for opinion... its not me that want a loan. :beer:

asbestross_2

Hi NID,

Well first things first, i'd always be wary of companies who do not give their T&C's until you actually apply. This immediate rings warning bells to me

I agree the rates are quite competetive, but at what risk though. Personally i'd avoid them as they give very little information ... and more worryingly a google search of their company names gives very little results

Ross

never-in-doubt

asbestross wrote: »

Hi NID,

Well first things first, i'd always be wary of companies who do not give their T&C's until you actually apply. This immediate rings warning bells to me

I agree the rates are quite competetive, but at what risk though. Personally i'd avoid them as they give very little information ... and more worryingly a google search of their company names gives very little results

Ross

Cheers mate - like I say, I received the email and usually I spam them but for some reason thought i'd check-it-out purely for this site cos lots of people ask for low rate loans and for £8 in every £100 that isn't ridiculous like some, i.e. welcome finance!

Hopefully we'll find a half decent lender for sub-prime loans etc - anything will be better than supporting the scum that rip people off that are loan sharkies

p.s. I'm not looking for a loan lol