Quote:
Originally Posted by DiscoStu
Saw an advert on Facebook for "Payday Loans". They charge £20 per £100 borrowed. Am I right in thinking if I borrowed 2 weeks before payday then repayed the day it was due it'd represent an annual interest rate of 520%?  |
Yes.
For some people, it's the only way they survive.
Have you looked inside a Cash Converters (pawn brokers) lately? The places are heaving with Chavs selling/pawning their every possession.
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By the time you finish reading this sentence, the national debt will have risen by another £1,500 - which you or your children will have to repay.
Just so you know.
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