I received what I thought was a piece of junk mail today from CashNetUSA. Out of curiosity I opened it without realizing it was meant for a house two blocks from here (same house number.) I glanced at it for a second before throwing it away. One thing jumped out to me; HUGELY.
Now, understand, I didn't have my glasses. I'm looking at their quoted "rates" and it's at 299. My first thought, "that's got to be 2.9...but no freakin' way it's 2.9!!"
So, looked it up...
APR: 299 - to almost 340 percent annually.
I've always thought car title loan and pay day loan businesses need to be put OUT of business. That's pure, and simple, usury. But this, at that?
Geez...it's no wonder people are underwater.
Now, understand, I didn't have my glasses. I'm looking at their quoted "rates" and it's at 299. My first thought, "that's got to be 2.9...but no freakin' way it's 2.9!!"
So, looked it up...
APR: 299 - to almost 340 percent annually.
I've always thought car title loan and pay day loan businesses need to be put OUT of business. That's pure, and simple, usury. But this, at that?
Geez...it's no wonder people are underwater.
