Being a loan shark

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Bagpuss replied

14 October 2008, 20:38
Originally posted by blacjac View Post

despite that being the highest APR, it's the joint lowest total repayment.
Thats APR for you folks....

That's because they are 14 and 16 week loans, compared to 6 months.

APR gives the best indication of true cost like for like
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blacjac replied

14 October 2008, 20:30
Originally posted by NoddY View Post

Here are some doorstop lenders with APR's that make your eyes water:

(£250 loan over a few months)

http://www.lenderscompared.org.uk/se...submit=Re-sort

1069.0% how's that for a credit crunch.

despite that being the highest APR, it's the joint lowest total repayment.
Thats APR for you folks....
Leave a comment:
NoddY replied

14 October 2008, 19:00
Here are some doorstop lenders with APR's that make your eyes water:

(£250 loan over a few months)

http://www.lenderscompared.org.uk/se...submit=Re-sort

1069.0% how's that for a credit crunch.
Leave a comment:
Platypus replied

14 October 2008, 18:43
20% APR is peanuts for door-to-door loan pushers.
They make several hundred % APR, sometimes more.

e.g. these folks (182% APR typical)

P.S. Baggy, no offence, but I doubt you have the balls or the contacts to make this a viable Plan B

Edit. A quick search around and I found loans at more than 1500% APR

Last edited by Platypus; 14 October 2008, 18:48.
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Bob Dalek replied

14 October 2008, 13:18
An old school pal of mine is now a debt collector. He was such quiet, nice and pleasant bloke at school... f--k knows what happened. He makes a tidy sum, and defaulting is, it seems, not an option, whatever that means.
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zeitghost replied

14 October 2008, 13:17
Originally posted by Bagpuss View Post

What like threatening to send CyberTory round to their house to bore them to death?

No need to go that far, baseball bats aren't all that expensive.
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DiscoStu replied

14 October 2008, 13:17
Originally posted by HairyArsedBloke View Post

Need to find a business that gets the chav benefit up-front and makes them dependant.

Smack dealer?
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BrilloPad replied

14 October 2008, 13:15
Originally posted by Bagpuss View Post

What like threatening to send CyberTory round to their house to bore them to death?

I was thinking more about dressing up in a batman costume and sitting on their roof......
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HairyArsedBloke replied

14 October 2008, 13:09
One of those fee charging ATM's might be a good earner. As always, location, location, location. Or maybe pre-paid debt cards?

Need to find a business that gets the chav benefit up-front and makes them dependant.
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DiscoStu replied

14 October 2008, 13:05
Originally posted by Bagpuss View Post

What like threatening to send CyberTory round to their house to bore them to death?

I think sending AtW round to lecture them about taking on debt they couldn't afford would be equally effective
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Bagpuss replied

14 October 2008, 13:03
What like threatening to send CyberTory round to their house to bore them to death?
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BrilloPad replied

14 October 2008, 12:56
Originally posted by Bagpuss View Post

During the last downturn I knew someone who ran one of those back of the tabloids loan companies. He made an absolute fortune at ridiculous interest rates. I noticed the other day a large furnishing/elctronics chain is offering 20 odd percent APR and seemed to be rather busy. I can see a plan B here.........

How many defaulted?

Or do you need a way of ensuring people pay up?
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Bagpuss started a topic Being a loan shark

14 October 2008, 12:54
Being a loan shark

During the last downturn I knew someone who ran one of those back of the tabloids loan companies. He made an absolute fortune at ridiculous interest rates. I noticed the other day a large furnishing/elctronics chain is offering 20 odd percent APR and seemed to be rather busy. I can see a plan B here.........
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