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The MOB has become internet Savvy!

RUGERGUNZ
www.cashcall.com

Was watching TV and saw a commercial with Gary Coleman trying to get you to loan money from Cashcall.

Was curious what kind of deal this is. Didn't want or need to loan money but wondered what kind of scam it was.



If you borry $2600, just pay it back in 3-1/2 years.

At the low low rate of 99.25%

Turns into $9170.10 after a $75 fee to get the loan.

Difference of $6570.10!!!!!


Couldn't find if there is a prepayment penalty.

[:0][:0]
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Comments

9 comments

Date Votes
  • spryor
    Thought there were laws against such interest rates...reckon not.
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  • AHansen
    I think the laws against such high intrest rates only apply to servicemen at the current time.
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  • sig232
    Oregon now has laws to prevent "loan shark" rates. I think the max is now 30%.

    All the payday loans and car title lones that were up in the 100% + catagory forced this change and will put most of them out of business.
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  • Rockatansky
    quote:Originally posted by spryor
    Thought there were laws against such interest rates...reckon not.


    The only law there should be is your common sense. If one is so bad at arithmetics that he/she can't see how much it'll cost them to use such services -- they deserve to be punished. "Laws" got nothing to do with.
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  • buschmaster
    how about the government? whatever you make, after income taxes, social secrutiny, medicaide, housing tax, phone bill tax, utility tax, license plate tax, taxes on taxes, your car is taxed 3 times over, sales tax, blah blah blah, I bet you end up only getting half out of of your paycheck.

    is that a racket or what.
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  • Rockatansky
    quote:Originally posted by buschmaster
    how about the government? whatever you make, after income taxes, social secrutiny, medicaide, housing tax, phone bill tax, utility tax, license plate tax, taxes on taxes, your car is taxed 3 times over, sales tax, blah blah blah, I bet you end up only getting half out of of your paycheck.

    is that a racket or what.


    Actually, depending on the state you're in, it's less than half. When Clingon was in the office federal racket was close to 50%. Right now it's a little better but still, if you think your taxes stop at your income tax, well, think again [:)]

    But everyone's happy and fed, so people that see it as racket are quickly labeled whack jobs and must be shot like rabid dogs.
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  • buschmaster
    right, that was my point. after your paycheck gets taxed, you go out to spend it, and most everything you buy is also taxed. and the most expensive things you buy (houses, cars, boats, etc) are taxed 2 or 3 times over.
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  • Rockatansky
    Yup. Just reiterating touchy subject. It is beyond painful to see tens of thousands of dollars go down the drain each year [:(!]
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  • Henry0Reilly
    quote:Originally posted by sig232
    Oregon now has laws to prevent "loan shark" rates. I think the max is now 30%.

    All the payday loans and car title lones that were up in the 100% + catagory forced this change and will put most of them out of business.


    Nope, they just realign how they charge. JD Byrider often will charge more than the original sticker price of a new vehicle for a used one. They throw in inspection fees, warranties with big loopholes that let them out of being required to actually fix anything, and so forth. This won't put them out of business at all.
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