you've gotta be kidding me!!

Discussion in 'The Club House' started by MrWray, Mar 6, 2012.

  1. MrWray

    MrWray New Member

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    Im sitting here watching tv and i see this "Western sky" commercial, the one where it has the indians on it saying that they can put up to $5,000 in your checking account by tommorrow.then they say "yes the money is expensive but its alot cheaper than a payday advance and can really get you over the hump". So im thinking to myself "what do they mean by expensive", then i read the loan description toward the bottom of the screen. HOLY $H!T!!!

    "The APR for a typical loan of $5,000 is 116.73% with 84 monthly payments of $486.58"

    Add that up and tell me what you get!

    i almost choked on my beer,passed out, fell of the couch, hit the floor head first,broke my neck,bled out,and started walking toward the bright light!!!
     
  2. rifleman1

    rifleman1 New Member

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    thats about what 40,000 in the end
     

  3. MrWray

    MrWray New Member

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    YES!!

    Who in their right mind would loan money from them? Ive seen high APR from credit card companies, but im talking like 28%. Ive never heard of such a thing
     
  4. TimKS

    TimKS Active Member Lifetime Supporter

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    Some people just don't read the fine print........ :(
     
  5. downsouth

    downsouth New Member

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    I wonder why you didn't hear about those indians who scalp the poor during all the predatory lending discussion. I guess it didn't fit the playbook, ie evil rich whitemen.
     
  6. Jpyle

    Jpyle New Member

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    How come when my Uncle Vinny Bagadonuts tried that they called it loan sharking. Talk about a heavy vig...fagedaboudit. :)
     
  7. Tackleberry1

    Tackleberry1 New Member

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    Since our laws do not apply on the reservation I'd say their laws don't really apply out here. I'd imagine many will take the loan then tell Chief GOaSCREWaWHITEY to pound sand...or call out his war party. hoo hoo hoo hoo
     
  8. Gert999

    Gert999 New Member

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    Lol ya noticed that awhile ago guess they need more firewater money :) i'm part Indian and by part i mean 1/128th got a card from Cherokee nation to prove it. If i went to okalhoma they would hire me in a second for one of there casino's. you have to be Indian to work there, but their main problem is most (i don't know the average but seems higher then norm) of the full cherokees come to work till the get a check go and drink it away and don't show back up till they're outta money. then repeat the process
     
  9. dragunovsks

    dragunovsks New Member

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    My sister in law would...and blow the money on stupid **** then ***** about being in debt for the rest of her life. My wife works at a bank and says she sees people doing these kind of loans on a daily basis.
     
  10. JD1969

    JD1969 New Member

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    I noticed the same commercial the other night and my reaction was very similar to the OP's. I had to rewind the DVR and make sure I actually read it right. PT Barnum was right.
     
  11. Polygon

    Polygon New Member

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    I thought that's pretty much the same as a payday loan? I recall having to go to small claims court and 90% of the cases were people from those organizations trying to collect from the debtors.
     
  12. Txhillbilly

    Txhillbilly Active Member

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    Almost all of the Payday Loan companies in the USA are owned by an American Indian tribe.

    The white man spent a long time screwing them over,and now payback's a *****! Isn't it.
     
  13. BlueTurf

    BlueTurf New Member

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    Maybe someone who ran up some serious gambling debts in one of their casinos would borrow like this.
     
  14. winds-of-change

    winds-of-change The Balota's Staff Member

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    I think the people who take out these kinds of loans are the ones with extremely poor credit who need a loan. These loans are the only kind they qualify for, I think. But they only make a bad situation worse.

    Haha.......too funny.
     
  15. MrWray

    MrWray New Member

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    Hey, you have the same as me. Im 1/128 creek, and have a CDIB card.
     
  16. texaswoodworker

    texaswoodworker New Member

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    Hey, I have some Cherokee in me too. :D We never got the card though.
     
  17. Gert999

    Gert999 New Member

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    Nice, most americans nowadays are more or less mutts. As in a little of this a little of that. People still try and say i'm half irish, half french when they're more or less a quarter of this a quarter of that, and a splash of everything in between :p
     
  18. Trez

    Trez Well-Known Member

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    At least their honest and tell you "Sure, its expensive" :p
     
  19. MrWray

    MrWray New Member

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    So your paying $35,000 for a $5,000 loan. How in the hell is that cheaper than a payday loan?
     
  20. Ledbetter84

    Ledbetter84 New Member

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    I'm sorry but when you said "How" I just lol'd