stanski Posted October 28, 2009 Share Posted October 28, 2009 Have you seen that quickquid advert ?- I thought I was seeing things when I saw the APR rate !! Is that for real! 2356%APR They should be called Loansharps.co.uk!!! http://www.quickquid.co.uk/ Quote Link to comment Share on other sites More sharing options...
Sarnie Posted October 28, 2009 Share Posted October 28, 2009 Its because the borrowed amounts will usually be quite low but their fee's are extortionate......its the modern day door-to-door loan shark..... Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 Its because the borrowed amounts will usually be quite low but their fee's are extortionate......its the modern day door-to-door loan shark..... exactly - I could'nt believe my eyes when I saw it! Funny how the sharks have jumped on the telly with the perceived easy option for people struggling to pay their bills, on top of all the gold sharks and mobile phone sharks! Good grief but worst of all is Gavin from that fe*** windscreen screen repair company - oooh if you dont fix this little crack in your windscreen your car will explode !! (sorry Ranting now - I hate people being scared into buying something!) Quote Link to comment Share on other sites More sharing options...
Sarnie Posted October 28, 2009 Share Posted October 28, 2009 These things are for people who cannot put £500 on a credit card or use an overdraft. They will have adverse credit, low income and have no other option than to borrow from people like this; borrow at this rate or don't borrow at all etc etc.. Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 These things are for people who cannot put £500 on a credit card or use an overdraft. They will have adverse credit, low income and have no other option than to borrow from people like this; borrow at this rate or don't borrow at all etc etc.. From bad to worse ....... Quote Link to comment Share on other sites More sharing options...
Sarnie Posted October 28, 2009 Share Posted October 28, 2009 Exactly, and thats what they prey on. Its like the old Provident people who would do door step loans; borrow £50 and pay back £2 a week for 100 weeks, people were too dim to realise just how much they were paying back and thought just £2 a week was good Quote Link to comment Share on other sites More sharing options...
Husky Posted October 28, 2009 Share Posted October 28, 2009 Ugh its ridiculous yes! for a small minority of cases it will be helpfull if used properly (if thats possible?) for everyone else its a huge rip off!! irritating Quote Link to comment Share on other sites More sharing options...
rich5259 Posted October 28, 2009 Share Posted October 28, 2009 do they do savings accounts? Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 do they do savings accounts? Well yes you will be saving to pay them back forever!!! Quote Link to comment Share on other sites More sharing options...
BulletMagnet Posted October 28, 2009 Share Posted October 28, 2009 Anyone want to borrow a tenner off me then....? Quote Link to comment Share on other sites More sharing options...
Husky Posted October 28, 2009 Share Posted October 28, 2009 Anyone want to borrow a tenner off me then....? do i get to pay ONLY 70 pence back per week for ONLY 17Months!!! WOW thats amazing BM Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 Anyone want to borrow a tenner off me then....? What the payback cost £500? Quote Link to comment Share on other sites More sharing options...
BulletMagnet Posted October 28, 2009 Share Posted October 28, 2009 But honestly, I've seen actual loansharks of the shady chinese community in action and it's bad... Say a hard gambling cook at a restaurant goes off to play mahjong in a gambling parlour in chinatown, then gets tapped out of his own money, he then wants to "borrow" some, hoping to win his own money back. Shark will oblige, usually a minimum of £5K, and the term usually runs for 12 months. The Pay-Off works like this: The cook will pay back anything between 2% - 5% of the total loan amount every week as interest and at the end of the year the original £5K on top too. And if the gambling urge still has a hold, then there will be other loans and as a result, you get some restaurants suddenly changing names and stuff...or cooks/waiters/etc. just disappear. Quote Link to comment Share on other sites More sharing options...
sparky370z Posted October 28, 2009 Share Posted October 28, 2009 so what they say is, if your credit is bad and cant repay us then we'll charge you more interest and get you further into debt!!!!!!! borrow £50 and then pay back £65 a month later!! holy cow!! this is what crashes the economy!! some people dont have anybody else to turn to and these people prey on that!! these sort of things used to be run by low brow gangsters with loads of gold threatening to break yours legs if you dont pay. now they are run by Guy Smiley, with charm and a tie. but still have the heavies wait in the back. Absolutely shocking!!!!! Quote Link to comment Share on other sites More sharing options...
BulletMagnet Posted October 28, 2009 Share Posted October 28, 2009 I blame the "must have" mentality of some folk that bow down to debt and don't care how bad it gets, until they are thoroughly in the proverbial. If you can't afford it, then just don't buy it. It's like when I saw the program on telly called "The Bank Of Mum & Dad", I could have cringed when I saw how bad some kids were in debt. Mostly because it's so easy to get a credit card or borrow money when banks see that you have enough lifespan left to pay it back. Quote Link to comment Share on other sites More sharing options...
Chesterfield Posted October 28, 2009 Share Posted October 28, 2009 I wonder what it would cost to set sonething like this up - Id happily loan at half their rates The worry is not getting paid back at all and having to send a couple of Zedrushs mates round to take their telly. Quote Link to comment Share on other sites More sharing options...
Tarmac@TarmacSportz Posted October 28, 2009 Share Posted October 28, 2009 The Pay-Off works like this:The cook will pay back anything between 2% - 5% of the total loan amount every week as interest and at the end of the year the original £5K on top too. And if the gambling urge still has a hold, then there will be other loans and as a result, you get some restaurants suddenly changing names and stuff...or cooks/waiters/etc. just disappear. Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 Well if they dont pay up - I am sure Tarmac will have means of ahem hiding them in the foundations of the next road he is working on or infact to help shire up that new concrete bridge on the bypass! That Bank of mum and dad is really bad - but it tended to show spoilt brats who must have the latest toys like Iphones (ahem ) etc etc etc or spend £100 on drinks when they go out etc etc! whats wrong with Meths - damn it man there are always choices! Quote Link to comment Share on other sites More sharing options...
sparky370z Posted October 28, 2009 Share Posted October 28, 2009 on the up side tho!! i saw on the news a few years ago a old man who applied some financial help through a local scheme (run by the Govt) he later kept getting loads and loads of CC applications, this man had no family and lived in a council house, he called up the companies asking to get his name of the mailing list but they kept coming. a few months later after still receiving all the Applications he had a stroke and was found to have a terminal illness that would kill him in a few months. when he got back home to collect his belongings he found over a dozen CC applications. he thought sod it and applied to them all and he got loads of them back and then went on a spending spree!!! he asked to go to iceland once a week and bought the old dears loads of shopping saying it was all for free!! and he also took the home that he was staying in, on a massive day out (that he paid for) all of his carers thought that he had loads of money saved away and was just spending it because he couldnt take it with him. when they were asked by the reporter they said he bought loads of stuff for the residents of the home and he was a lovely bloke, apparently he lasted for 4 months and he racked up an estimated £35k over all of the CC. the debt died along with him. Quote Link to comment Share on other sites More sharing options...
Husky Posted October 28, 2009 Share Posted October 28, 2009 whats wrong with Meths - damn it man there are always choices! :lol: Quote Link to comment Share on other sites More sharing options...
rich5259 Posted October 28, 2009 Share Posted October 28, 2009 whats wrong with Meths - damn it man there are always choices! will that be blue meths or clear sir? Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 whats wrong with Meths - damn it man there are always choices! will that be blue meths or clear sir? The Blue I feel has a nicer bouquet! Quote Link to comment Share on other sites More sharing options...
rich5259 Posted October 28, 2009 Share Posted October 28, 2009 whats wrong with Meths - damn it man there are always choices! will that be blue meths or clear sir? The Blue I feel has a nicer bouquet! and it's a better match to your car Quote Link to comment Share on other sites More sharing options...
stanski Posted October 28, 2009 Author Share Posted October 28, 2009 whats wrong with Meths - damn it man there are always choices! will that be blue meths or clear sir? The Blue I feel has a nicer bouquet! and it's a better match to your car Quote Link to comment Share on other sites More sharing options...
Sarnie Posted October 29, 2009 Share Posted October 29, 2009 I blame the "must have" mentality of some folk that bow down to debt and don't care how bad it gets, until they are thoroughly in the proverbial.If you can't afford it, then just don't buy it. It's like when I saw the program on telly called "The Bank Of Mum & Dad", I could have cringed when I saw how bad some kids were in debt. Mostly because it's so easy to get a credit card or borrow money when banks see that you have enough lifespan left to pay it back. Your missing the point. These loans are not usually for a pair of Moschino jeans or Evisu handbags, they are usually taken out to be able to put food on the table, buy your kid the bike they want for xmas or to pay the rent or face eviction! Quote Link to comment Share on other sites More sharing options...
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