Tuesday, July 1, 2008

Just noticed that HPC website has an ad for the same rip-off loans!

You can settle the loan on payday - but the APR could be more than 2,000 per cent

Wouldn't normally post off message article - but HPC website as advert for the same type of loan. ***From a couple of days ago... Offshore money-lending companies charging interest rates in excess of 2,000 per cent are targeting cash-strapped borrowers in the UK via the internet. They are offering 'payday loans' that provide desperate borrowers with up to £1,000 over 31 days, which then has to be paid back with hundreds of pounds added on in interest.

Posted by rental john @ 06:09 PM (511 views)
Please complete the required fields.



5 thoughts on “Just noticed that HPC website has an ad for the same rip-off loans!

  • The interest charge is 25%. In calculating the APR, they assume that this is over 31 days, but in reality, it is usually over 2 to 3 days. You pay the same 25% either way. The people who go for these sorts of loans tend to get their money either weekly or fortnightly.

    If you take one of these loans over two days, the APR is actually 48,537,496,693,662,684,672%

    Reply
    Please complete the required fields.



  • Fly By Night says:

    It is scandalous that such extortionate interest rates are being charged in either US or UK. There should be a legal maximum for all interest rates that can be charged, which should be about what credit cards charge now, and anyone charging more should pay the penalty of imprisonment. I had alway thought that this was so, but these examples seem to prove otherwise.

    I have noticed some adverts on HPC which seem to be in opposition to the concept and what I had assumed was the ethos of the site. This is most disappointing, not to say worrying.

    Reply
    Please complete the required fields.



  • little professor says:

    LOL, you still see ads on web pages? How quaint.

    Reply
    Please complete the required fields.



  • Google Ads.. don’t you just love it.

    Reply
    Please complete the required fields.



  • Advertising companies do seem to post up amusingly inappropriate adverts quite often; I was watching a program that was talking about environmental issues and criticising car use on the TV last night, and the first advert I saw in the break was for a great big gas guzzler.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>