New Posts For Thread: 2356% APR!!https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-aprJust saw advertised on SKY news channel.Honesty in advertising but taking advantage of people. Loan sharks offer better.Where people get caught out:Borrow £100 quidService £25 between now and the next pay day.= 125 owedPay back £80 with £45 leftMoney goes towards £25 service first so whole amount not paidNext pay cheque owe £45 + 25 = 70Pay back 70Two months 100https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487278#417487278Where people get caught out:Borrow £100 quidService £25 between now and the next pay day.= 125 owedPay back £80 with £45 leftMoney goes towards £25 service first so whole amount not paidNext pay cheque owe £45 + 25 = 70Pay back 70Two months 100Thu, 03 Dec 2009 06:21:23 -0600why?https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487274#417487274why?Thu, 03 Dec 2009 06:17:10 -0600So between 20-29% flat rate then ? Hardly extortionate is it. Using an Annual equivalent figure for short term lending is pointless.https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487270#417487270So between 20-29% flat rate then ? Hardly extortionate is it. Using an Annual equivalent figure for short term lending is pointless.Thu, 03 Dec 2009 06:14:57 -0600From their siteYour loan's finance charge will be between £10 to £14.75 per £50 borrowed per pay periodhttps://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487250#417487250From their siteYour loan's finance charge will be between £10 to £14.75 per £50 borrowed per pay periodThu, 03 Dec 2009 06:08:30 -0600Faaaark!http://www.quickquid.co.uk/https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487246#417487246Faaaark!http://www.quickquid.co.uk/Thu, 03 Dec 2009 06:07:54 -0600quick quidhttps://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487242#417487242quick quidThu, 03 Dec 2009 06:06:37 -0600Co-op savings account?https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487226#417487226Co-op savings account?Thu, 03 Dec 2009 06:01:37 -0600That would almost certainly fall foul of the Consumer Credit Act on extorionate credit bargain grounds, I would have thought. What was the product?https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487222#417487222That would almost certainly fall foul of the Consumer Credit Act on extorionate credit bargain grounds, I would have thought. What was the product?Thu, 03 Dec 2009 05:57:33 -0600Another person who doesn't understand APR ? Was it for a Payday loan by chance ?https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487206#417487206Another person who doesn't understand APR ? Was it for a Payday loan by chance ?Thu, 03 Dec 2009 05:54:32 -0600Just saw advertised on SKY news channel.Honesty in advertising but taking advantage of people. Loan sharks offer better.https://community.betfair.com/chit_chat/go/thread/view/94038/23415202/2356-apr?post_id=417487202#417487202Just saw advertised on SKY news channel.Honesty in advertising but taking advantage of people. Loan sharks offer better.Thu, 03 Dec 2009 05:53:04 -0600