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Christ - look at the typical APR on this

https://vault2.secured-url.com/unclebuck/faq.htm

:eek: :eek: :eek: :eek:

hasten to add I wasn't looking for it as somewhere to use , but came across it whilst doing some AQA work.
:D"Stay Wonky":D

:j:jBecome Mrs Pepe 9 October 2012 :j:j
«13

Comments

  • Lucy1982_2
    Lucy1982_2 Posts: 4,611 Forumite
    1,000 Posts Combo Breaker
    bloody hell!!!!!!

    Please tell me people don't actually get these things!!
    Current debt - £16,300 :(
    Debt at worst 17/03/2011 - £18,067.62:eek::eek:
    :ANot going anywhere else, ever again :A
  • catewithers
    catewithers Posts: 502 Forumite
    Part of the Furniture Combo Breaker
    Chuffin' 'eck!!!!!

    I can't quite believe that's not a typo!!!! But I know it's bound to be true :mad:
  • kathfisch
    kathfisch Posts: 3,042 Forumite
    The apr is that high because they're intended for very short loan times, up to 30 days. Borrow £100, pay back £130 etc. The trouble is there's the option to extend the loan when you come to payday and find you can't pay... meaning you keep paying that interest every month!

    I thank my lucky stars I'm not in a position to need such a loan but, if I was, I'd rather use a company like that than a loan shark. They don't try to hide their interest rate, to be fair.
    Don't stress, relax, let life roll off your backs. Except for death and paying taxes, everything in life is only for now... Avenue Q
    Official DFW Nerd Club - Member no. 003 :DProud to have become debt free... and striving to keep it that way
  • Gemmzie
    Gemmzie Posts: 14,876 Forumite
    Hell's teeth

    Borrow £100 for under a month and pay back £130 :eek:
    No longer using this account for new posts from 2013
  • blackangeluk
    blackangeluk Posts: 837 Forumite
    Oh my word :eek:

    How scary is that, the problem is some people will be so skint they will see it as a good option and a short term loan, but these things very rarely end up short term I guess.....
  • kathfisch
    kathfisch Posts: 3,042 Forumite
    Gemmzie wrote: »
    Hell's teeth

    Borrow £100 for under a month and pay back £130 :eek:

    I know its not nice but it is business.

    Would you risk lending £100 to someone you didn't know (who obviously has credit problems if they've come to you) for a return of less than £30 on your risk?

    Sadly there must be a call for such a service or else it wouldn't exist.
    Don't stress, relax, let life roll off your backs. Except for death and paying taxes, everything in life is only for now... Avenue Q
    Official DFW Nerd Club - Member no. 003 :DProud to have become debt free... and striving to keep it that way
  • Pobby
    Pobby Posts: 5,438 Forumite
    I have friends in America who have used these loans.Scary!!!!!!
  • Skint_Catt
    Skint_Catt Posts: 11,548 Forumite
    Part of the Furniture Combo Breaker
    Ouch!!!!
    C xx
  • Dizzydee
    Dizzydee Posts: 113 Forumite
    Not much worse than the bank charges if you go overdrawn!!!
This discussion has been closed.
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