Shocked at 258.6%APR!!

keava

Hi
I just had a leaflet through my door for Greenwoods Personal Credit.
This is the first time I have ever seen anything like this - they sell you vouchers for high street stores so you can buy things
The usual no credit checks etc - but charge a huge 258.6% APR
There is just a name and mobile number to contact the person.

Surely this is robbery!
Any wonder people who are desperate get into debt and can never get out of it??

I feel like this type of credit should be banned!
Thanks for letting me rant
K
:mad:

custardy

these types of companys target those desperate for credit,any credit
nothing more than loan sharks

anewman

Post the mobile number here we'll have a use for it

keava

Hi
is there nothing that can be done about these companies?
There should be a law against it!
K

custardy

provident or the provi as its known in scotland are well known in poorer areas.
they have people coming round making collections at peoples houses for a 'friendly' service

Brooker_Dave

keava wrote: »

Hi
I just had a leaflet through my door for Greenwoods Personal Credit.
This is the first time I have ever seen anything like this - they sell you vouchers for high street stores so you can buy things
The usual no credit checks etc - but charge a huge 258.6% APR
There is just a name and mobile number to contact the person.

Surely this is robbery!
Any wonder people who are desperate get into debt and can never get out of it??

I feel like this type of credit should be banned!
Thanks for letting me rant
K
:mad:

Poor whitetrash always end up paying huge interest.

High risks = high interest.

Brooker_Dave

keava wrote: »

Hi
is there nothing that can be done about these companies?
There should be a law against it!
K

Why?

Why should poor !!!!less people not be able to get credit if they so choose?

No proper bank will touch such scum, so only those who are willing to take the risk at 100000000% apr are left.

Brooker_Dave

pokem02 wrote: »

JEEPERS!!!!!

I was so stunned I googled them and found their website where they advertise £200 for £10 a week for 32 weeks at an APR of 399%

WHAAAAAAT???!!!!!!!

Crack addicts and single mums have to get credit from somewhere....