Go Back  The Hull Truth - Boating and Fishing Forum > BOATING FORUMS > Dockside Chat
Reload this Page >

Need a quick loan? Only 234% interest! LOL

Notices

Need a quick loan? Only 234% interest! LOL

Old 03-05-2012, 09:00 PM
  #1  
Senior MemberCaptains Club Member
Thread Starter
 
ScarabChris's Avatar
 
Join Date: Jul 2005
Location: Dania Beach, FL
Posts: 28,414
Likes: 0
Received 27 Likes on 26 Posts
Default Need a quick loan? Only 234% interest! LOL

I guess the Mafia is officially out of the loan sharking business. You can get your loan through the Native Americans legally and they probably won't break your legs if you don't pay.


http://www.westernsky.com/General/Rates.aspx

This will get you out of debt. I like the $500 loan fee on the $1500 loan and 234% interest.

Last edited by ScarabChris; 03-05-2012 at 09:18 PM.
Old 03-05-2012, 09:14 PM
  #2  
Senior MemberCaptains Club Member
 
Join Date: Jun 2007
Location: Winterville & MHC, NC
Posts: 4,798
Received 449 Likes on 245 Posts
Default

holy hell, that ridiculous. Maybe the Casinos aren't doing as well as I figured
Old 03-06-2012, 03:48 AM
  #3  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 18,944
Received 1,310 Likes on 750 Posts
Default

Originally Posted by ytmorris View Post
holy hell, that ridiculous. Maybe the Casinos aren't doing as well as I figured
That is where the money comes from that they loan out

Saw a couple of those ads on tv and thought same thing Chris

Gonna upset some "guys" in NY and that casino might not last too long or guy on ad is gonna "go for a ride" or at least have a "sitdown" with Uncle Pauly
Old 03-06-2012, 05:12 AM
  #4  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2004
Location: Not in Texas
Posts: 10,213
Likes: 0
Received 6 Likes on 4 Posts
Default

I think the short term interest on Greek bonds is now something like 400% ... meaning anyone that buys them are not likely to every see a penny of their money returned, let alone any of that 400% interest.
Old 03-06-2012, 05:36 AM
  #5  
Senior MemberCaptains Club Member
Thread Starter
 
ScarabChris's Avatar
 
Join Date: Jul 2005
Location: Dania Beach, FL
Posts: 28,414
Likes: 0
Received 27 Likes on 26 Posts
Default

Yeah I was watching TV last night and saw the commercial. The "fine print" flashed at the bottom of the screen so I backed up the DVR and paused it on the fine print. I was laughing my ass off.

There are some people that will enter into a loan with these terms.

I mean....look what a $5000 loan will cost. You have to make a $487.00 payment for 7 years!!! That 5 grand will cost you $35,000 in interest!!!!!
Old 03-06-2012, 05:42 AM
  #6  
Admirals Club Admiral's Club Member
 
Join Date: May 2008
Location: Philadelphia
Posts: 5,176
Likes: 0
Received 1,259 Likes on 685 Posts
Default

I like the line in the commercials "sure it's expensive"
Old 03-06-2012, 06:47 AM
  #7  
Senior MemberCaptains Club Member
 
Join Date: Nov 2002
Location: Pompano Beach, FL, USA
Posts: 4,939
Likes: 0
Received 292 Likes on 172 Posts
Default

Originally Posted by bjm9818 View Post
I like the line in the commercials "sure it's expensive"

That caught my ear too. I was thinking that they must have been required to say that.
Old 03-06-2012, 06:52 AM
  #8  
Admirals Club Admiral's Club Member
THT sponsor
 
triumphrick's Avatar
 
Join Date: Aug 2008
Location: Masaryktown, Fla.
Posts: 17,819
Received 4,091 Likes on 1,771 Posts
Default

Wow...worse than the "buy here, cry here" loans the used car lots make!!

I think a law was passed that made the lenders show the rates at those payday loan joints...they are up there in that range too...
Old 03-06-2012, 10:22 AM
  #9  
Senior Member
 
Join Date: Nov 2011
Posts: 1,070
Likes: 0
Received 6 Likes on 5 Posts
Default

Originally Posted by triumphrick View Post
Wow...worse than the "buy here, cry here" loans the used car lots make!!

I think a law was passed that made the lenders show the rates at those payday loan joints...they are up there in that range too...
Went to school with a guy that saw a newer Ford focus drive up to scrap yard to be crushed. The owner said insurance had totaled it and was going to get all he could for it. The scrap yard said 350 another guy said 375 the guy I knew waited for numb nuts to go get the money and walked up with $400. Got it drove her straight to one of those title loan places got 2k for the car and left it setting in the parking lot. Not a bad days work
Old 03-06-2012, 01:22 PM
  #10  
Senior MemberCaptains Club Member
 
Join Date: Jun 2002
Location: Long Island,NY
Posts: 12,061
Likes: 0
Received 1,015 Likes on 605 Posts
Default

Originally Posted by ytmorris View Post
holy hell, that ridiculous. Maybe the Casinos aren't doing as well as I figured
You nailed that one, they ain't. Combination of the economy and the large number of newly opened casinos.
Old 03-06-2012, 09:33 PM
  #11  
Senior Member
 
Join Date: Oct 2009
Location: Fort Lauderdale, FL
Posts: 489
Likes: 0
Received 0 Likes on 0 Posts
Default

borrow 5k, pay back 40,872.72... cool stuff
Old 03-07-2012, 03:54 AM
  #12  
Admirals ClubCaptains Club Member Admiral's Club Member
 
Join Date: Oct 2002
Location: anderson, sc
Posts: 18,944
Received 1,310 Likes on 750 Posts
Default

Sad thing is in a few couple years we will hear the SOB STORIES of those that were taken advantage of with these high interest loans and it will be the fault of the native Americans for being so greedy and not the fault of the dumb asses that borrowed the money
Old 03-07-2012, 04:48 AM
  #13  
Senior MemberCaptains Club Member
 
Join Date: Jun 2001
Location: Edgewater, Md
Posts: 213
Likes: 0
Received 11 Likes on 9 Posts
Default

I like the Indian chicks they use for the commercials, they didn't pluck them out of reservation housing.
Old 03-07-2012, 06:12 AM
  #14  
Admirals Club Admiral's Club Member
 
Join Date: May 2008
Location:
Posts: 3,556
Likes: 0
Received 293 Likes on 183 Posts
Default

got pics ?

Originally Posted by colmbarry View Post
I like the Indian chicks they use for the commercials, they didn't pluck them out of reservation housing.
Old 03-07-2012, 06:24 AM
  #15  
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Dec 2001
Posts: 11,839
Likes: 0
Received 418 Likes on 237 Posts
Default

If you don't pay it back, they'll send Injun Joe to collect...
http://www.youtube.com/watch?v=buHLr-lxvl0
Old 03-07-2012, 06:26 AM
  #16  
Senior Member
 
Join Date: Aug 2010
Location: Md shore
Posts: 1,819
Likes: 0
Received 2 Likes on 2 Posts
Default

The same thing exists on a larger scale for businesses as well. You get a loan and then pay back via pledged cc receipts. No interest rate is stated and in fact they will refuse to quote you one. Have calculated rates in the 200+ % range with these.
Old 03-07-2012, 06:50 AM
  #17  
Senior Member
 
Join Date: May 2011
Location: NC
Posts: 119
Likes: 0
Received 0 Likes on 0 Posts
Default

I honestly thought the commercial was joking when I first saw it. I was waiting for the punch line but it never came. People would have to be crazy to buy into this crap.
Old 03-07-2012, 08:26 AM
  #18  
Admirals Club Admiral's Club Member
 
Join Date: Dec 2010
Location: Pompano Beach, FL
Posts: 12,411
Received 2,623 Likes on 1,244 Posts
Default

From their "terms of use"

"All loans will be subject solely to the exclusive laws and jurisdiction of the Cheyenne River Sioux Tribe, Cheyenne River Indian Reservation. All borrowers must consent to be bound to the jurisdiction of the Cheyenne River Sioux Tribal Court, and further agree that no other state or federal law or regulation shall apply to this Loan Agreement, its enforcement or interpretation."

So if you got the money from them, what could they do to a US citizen if they decided to not pay it back?
Old 03-07-2012, 09:50 AM
  #19  
cjd
Senior MemberCaptains Club Member
 
Join Date: Oct 2001
Location: Severna Park Md
Posts: 4,273
Likes: 0
Received 257 Likes on 148 Posts
Default

Can I bake that loan fee in to that actual loan? If so, i am all over it?

Course I will be paying with trinkets and shiny things/
Old 03-07-2012, 02:32 PM
  #20  
Senior Member
 
Join Date: Aug 2005
Location: New England
Posts: 5,191
Likes: 0
Received 238 Likes on 149 Posts
Default

Figure, a $36,000 loan, at 7.25% for 15 years, taken to term with no additional payments, the interest will come to just under $24,000.

What about mortgages? Yikes!

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are On
Refbacks are Off


Thread Tools
Search this Thread

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information

Copyright © 2018 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.