LOG BOOK Loans

[AlanJ]

This looks good if you need cash NOT - interest rate of 437.4% (yes you read that correctly). Loan sharks like this should be strung up :x

EDIT...Ooops

Here it is now.... http://www.logbookloans.co.uk/

 

[alansabout]

Where is the link?

 

[pvr]

I think Alan is referring to his new financial adventure as a loan shark. He has seen the returns on the oil shares by Beancounter, so he wants some of the action

 

[AlanJ]

I think Alan is referring to his new financial adventure as a loan shark. He has seen the returns on the oil shares by Beancounter, so he wants some of the action

You bet.....!

 

[pvr]

So Alan ... you are thinking about that one then to pay for your CDV you bought?

 

[alansabout]

That is about the worst interest rate I have ever seen openly advertised, they normally hide it in the small print.

 

[JimmyPop]

The worst I've seen recently was a TV advert for one of those short term/pay day advance loan companies - APR was 2300%

 

[AlanJ]

So Alan ... you are thinking about that one then to pay for your CDV you bought?

Just waiting for Mrs J to discover the PP entry on the bank statement...... and then the fight will start

 

[srhutch]

The worst I've seen recently was a TV advert for one of those short term/pay day advance loan companies - APR was 2300%

I saw that one to and could not believe the rate being displayed.

 

[EdButler]

2222.46% from QuickQuid - LOL. Absolutely rediculous... :roll: Makes you wonder who uses this rubbish, no wonder the country is in so much debt:
http://www.quickquid.co.uk/fee-schedule.html

 

[AlanJ]

2222.46% from QuickQuid - LOL. Makes you wonder who uses this rubbish.......

Perhaps we should all be thankful we will never be in such a position where we are forced to consider such loans - not everyone is as lucky.

 

[cj10jeeper]

I love APR as despite many quirks in the way it works it does expose stupid interest rates that people woudl otherwise miss and helps create a better understanding. Borrow £50 and pay back just £65 at the end of the month...lol

Sadly many of the people who use this have little choice in desperate circumstances. My career started in lending at high rates (30% APR) to largely rescue people from door to door retailers and lenders. I learnt some tough lessons in life. You're comment is oh so valid Alan

 

[pvr]

My career started in lending at high rates (30% APR) to largely rescue people from door to door retailers and lenders.

You were a loan shark CJ?

 

[PaulN]

I was just about to post up this site.....

http://www.paydayuk.co.uk/ Use them most months.................NOT... lol I thought 1737% was bad but the above posts beat that!

You can only get between £80 and £750.... I feel for anyone using this type of loan, i guess it keeps the wolfs from the door but its no life.

Cheers

PaulN

 

[cj10jeeper]

My career started in lending at high rates (30% APR) to largely rescue people from door to door retailers and lenders.

You were a loan shark CJ?

Harsh, but I'm in banking (and software) so I'm thick skinned