BF2S Forums Insanely High Interest

would you get in trouble if you contacted her and explained the situation to her and what she has done



300% ------ fuck that ....... I raise hell when I see mine go over 12%

You see plenty of dodgy places offering interest of about 1100% over here. Those little places that offer "cash now to get you through till payday" all have obscene interest rates, but few people notice just how high they are because they typically pay the money back after a few days.

According to Sharia law its illegal to charge interest rates

jamiet757 wrote:

This woman is an idiot alright. Now I am not saying that it is okay for companies to take advantage of stupid people like this, it is very very wrong, but don't forget, it is not your responsibility to watch out for this woman. She has the responsibility to take care of herself, and she obviously doesn't care/doesn't want to/doesn't know where she is right now.

You don't need to watch out for the stupid people in the world, if you want to, go ahead that makes you a very nice person, but not helping stupid people doesn't make you a bad person.

If we all watched out for all the idiots in the world, everyone who isn't an idiot would be very very busy and get nothing accomplished, and the stupid people would never learn anything if someone else helped them anytime they got into trouble.

Just some food for thought.

I agree somewhat.  But, these places also spend a lot of money on advertising to make what they do seem like a great deal.  Also, what if places like this drive people to commit crimes?  What is the overall affect on the economy of thousands of lower income people being robbed of their cars and money?  I ask questions like this because I am studying to be an Economist. 

Before the explosion of credit in the 80s, it was hard for someone to get in these types of trouble.  There still were "idiots," but there were a lot less people able to make heaps of legal profit off of them.  Sure, there are idiots that will do illegal things like smoke meth and do heroin.  And there are people taking advantage of that by selling them that.  But the difference is we try to go after the drug dealers.  This is the same reason gambling is usually illegal.  Of course gamblers are idiots, but we try not let people take advantage of this.

Plus, I think you calling these people "idiots" is unfair.  I don't know if you've ever been in a vulnerable situation where you could fall prey to this.  I never have been that bad, but when I was younger I did take out credit cards I shouldn't have.  A lot of their customers may be making these decisions mostly out of financial duress instead of logic. 

Also, I have to ask the question, who would benefit from this type of loan?  Is there one group of pepole that could possibly see these these short term high interest loans actually worth it?  I can think of one - drug dealers.  And believe it or not, looking through the database I have come across people taking out these loans on a monthly basis and paying them back two weeks later.  Of course its speculation, but who would take out 12 of these in a year and see these as a good idea?  Only drug dealers come to mind.  Again, this is all speculation, but in college I did know a guy that financed his bulk purchases of marijuana with credit card advances.  It did pay off for him.