I saw a commercial for Spotloan tonight and just out of curiosity I went to their website to check them out. What a racket! They state that their maximum interest rate is 390%!! Can you believe it?? The example they put up was to borrow $600 and pay $114 every two weeks for 6 months. That means you would pay back $1368. That is more than 100% interest! The sad thing is that people are so desperate that they fall for these type of loans. It is really sad! I may be desperate for money but I would like to think that I never would fall for any of these rackets!
September 25th, 2013 at 01:58 am