jon16350
jon16350
poties, Nouvelle-Aquitaine, France
Oct 2016
778 Views
8 Comments

APR 1295%

last night i got fed up of reading i turned on the tv to see if there was anything worth watching? and up pops a add for a loan company offering to lend money with the interest rate of only 1295 apr?? so if i'm right i borrow £1 for 1 month i pay back £129, how can any goverment allow this to go on live tv?
Post Comment

Comments (8)

Mapmaker
Mapmaker●Inland near Jaen, Andalusia Spain
Oct 22, 2016●116 Blogs●2,827 Comments
#1
The repayment would be a total of £12.95 for that apr
Reply
Report
jon16350
jon16350OP●poties, Nouvelle-Aquitaine France
Oct 22, 2016●3 Blogs●8 Comments
#2
sorry must be my age can't see the dots
Reply
Report
zmountainmanonline today!
zmountainman●Motril, Andalusia Spain
Oct 22, 2016●107 Blogs●7,852 Comments
#3
I agree that's a ludicrous rate, however these "payday" loans have to be silly rates or they wouldn't be worth the risk, typically you'd only borrow for a few days & the borrower would be a bad credit risk to need one in the first place or they'd have an overdraft arrangement with there bank.
Reply
Report
jon16350
jon16350OP●poties, Nouvelle-Aquitaine France
Oct 22, 2016●3 Blogs●8 Comments
#4
there some very vulnerable people out there who need money and these loan sharks prey on them and the government lets them get away with it, the UK bank rate is 0.5% or maybe the company pays alot of tax??
Reply
Report
mollybaby
mollybaby●Cork City, Cork Ireland
Oct 22, 2016●37 Blogs●11,285 Comments
#5
I much prefer the loan sharks who actually call to your house for payment anyway.


Such a nice old-fashioned servicevery happy
Reply
Report
jon16350
jon16350OP●poties, Nouvelle-Aquitaine France
Oct 22, 2016●3 Blogs●8 Comments
#6
yes i can see why they do it, in the old days we had a local pawn shop for a little extra cash until pay day
Reply
Report
jon16350
jon16350OP●poties, Nouvelle-Aquitaine France
Oct 22, 2016●3 Blogs●8 Comments
#7
yes i can remember being sent upstairs when they knocked the door i've always wondered why mother did that?
Reply
Report
zmountainmanonline today!
zmountainman●Motril, Andalusia Spain
Oct 22, 2016●107 Blogs●7,852 Comments
#8
The UK introduced legislation in Jan 2015 capping what they could charge, I seem to recall some of the lenders went broke after that, shame laugh

https://www.theguardian.com/money/2015/jan/02/payday-loans-caps-fca
Reply
Report
Post Comment - Let others know what you think about this Blog.

More Blogs... Read Next

Gesture Search...
Cellphone HELL...
This is laughable by any standards
Election Interference aka Hush Money Trial...
looking for real love (sounds weird but yeah I know it's still out there)
Heading back to the USA for Halloween 2025.
More Blogs
Meet the Author of this Blog
jon16350

jon16350

poties, Nouvelle-Aquitaine, France

People describe me as very friendly, caring, trust worthy, down to earth and funny, Now in the process of relocating to the east coast of Bulgaria? would welcome any advice or knowledge/ tips that would come in handy to help smooth the way. [read more]

About this Blog

by jon16350
created Oct 2016
in Society Blogs
778 Views
8 Comments
Last Viewed: Apr 16
Last Commented: Oct 2016
jon16350 has 3 other Blogs

jon16350 Blogs (3)

If women didn't exist, all the money in the world would have no meaning.
APR 1295%
Is a photo and a few lines enough?

Like this Blog?

Do you like this Blog? Why not let the Author know. Click the button to like the Blog. And your like will be added. Likes are anonymous.

Feeling Creative?

Create a Blog
Post Comment back to top
Report Blogs that break rules, are offensive, or contain fighting. Staff may not be aware of the Blog Abuse, and cannot do anything about it unless you tell us about it. click to Report Blog Abuse »
If one of the comments is offensive, please report the comment instead (there is a link in each comment to report it).