Quote:
Originally Posted by big al
Advert for short term loans on TV is posting an APR of 260.1%. I understood loan sharks were being forced out of business but heres one blatently preying on the vulnerable openly & on our tv screens. Many years ago I worked for a while for Provident & was embarrased at their charging 96% for a 2 year £1000 loan but this makes them look like Santa Claus in comparison. How on earth can this have slipped the ASA as such a rate is scandalous. I know the market targeted is high risk but there has to be a limit. Come on Graham, as new MP for the area in a traditionally renown low economy part of Britain show your teeth & show these rip off merchants we dont need them!  |
There is another advert that my wife and I see every now and then in a morning while we're having breakfast and it's quite openly advertising an APR of around 2960% which boggles the mind.
The girl advertising it is smiling though, so it can't be that bad.....