There Is Evil In The World…
This blog may get a little depressing. Sorry. There really isn’t much joy in my friggin’ life these days. And this blog is a reflection of my life. So, either brace for the suck or come back in a couple months and see what happened. I will try to write well and keep you interested. It’s just the material may be a little…dark.
Without the distractions of the Internet and television at home, I certainly have ample time to look at the finances. Actually, it’s more like the finances have ample time to kick me in the nuts…repeatedly…for hours on end. At least, that’s how it feels.
I’d like to take a moment to talk about one of the reasons why this whole mess occurred. Have you ever heard of an installment loan? These things are just amazing. Imagine a ‘payday’ loan on steroids and you’re on the right track. An installment loan is where a loan place gives you an amount of money with no collateral or credit check. It’s literally just on your honor. Oh, and having a bank account.
So, what’s the big deal?
They rape you on the interest rate. I don’t like to toss the word rape around, but these rates should be considered a felony. We took one of these out when we desperately needed the car repaired. I took out $1,000. The APR is 250%.
That’s not a mistype.
The APR is 250%.
When I’m done, I will have paid them a total of $3,285, of which $2,285 is pure profit. And that’s not even the worst part. There is a sign that says the rate may be as high as 500%.
This is ridiculous.
So, if you know a mob that is restless and needs something to do, consider finding the home of an owner of one of these establishments and drag them out to the town square and stone them. Get all ‘Old Testament’ on them! Then burn their house to the ground.
There is evil in the world. And these predatory lenders prey on those who are desperate and have no other options. They are evil in its purest form.
Told you it was going to be dark…
July 30th, 2009 at 4:06 pm
“What are you talking about? That kind of loan doesn’t exist…..and shouldn’t!”
This is what I tell myself about those kinds of loans. They simply don’t exist. It’s not even an option when a need comes up. They are virtually impossible to get out of without, like you said, being raped! Don’t be doin’ that no mo!!!! Love ya =]
.-= BeccA’s Buzz´s last blog …Give Me Five Monday Meme is coming back! =-.