Quick Quid

[teacake2]

Not CM related but I have recently seen an advert on tv for people who need some money quickly, on looking at the small print the interest rate they were charging was something like 2356%!!!!!!, I had to look a few times to make sure I had seen it correctly, talk about exploiting the vulnerable. This company is no better than the door to door money lenders that the government are talking about trying to regulate, but these are advertising their business on the tv.
What do others think, and have any others seen it?
Teacake2:angry: :angry:

[sarah707]

I haven't seen that... it's disgusting!

The local tally charges 35% so long as you keep up-to-date with payments which I think is bad enough! :eek:

[Carol M]

Yes I've seen it and had to look again! Even pointed it out to my teenage daughter and explained how disgusting it was. Lovely smiley lady on advert makes it look to be a good option!
Absolutely appalling ,even if the megga A.P.R was shown on the ad , some poor people might not understand the implications of such a huge interest rate.
Carol:angry:
It should be banned!

[FizzysFriends]

These are short term loans though so the APR will always look really bad against long term loans. They are really bad though but I read a piece in the paper about them and they worked out cheaper than going over your overdraft (they are only for a week usually).