Finding Freedom

How quickly can a fool find his money again?

I currently have a whole bunch of debt. Hmm...I wonder how much I could get for my kidneys?
You can email me at steven.jericho@gmail.com
Wednesday, October 04, 2006
A Faustian Bargain
I had heard commercials talking about Cash Call. They starred Gary Coleman. Although I certainly don't need any more money lended to me at interest right now, on a whim I went over to their site to check them out. The site seems pretty legitimate; it almost seems like they are just looking to help people out who are down on their luck.

However, in examining what users have said about them, that help that they offer comes at a great price. While I suspected that their interest rates weren't kind, but I had no idea that they were as bad as they are.

Many of the people are locked into loans with an interest of at least 85%. You read that right; eighty-five percent interest. At least.

Can you say preying on those least able to protect themselves? This is horrible, and it makes me sick.
posted by shamedsteven @ 4:38 PM  
4 Comments:
  • At 2:29 PM, Anonymous Ty said…

    That is a ridiculous interest rate!
    You might as well go to one of those pay-day loan places or call a loan shark!

     
  • At 10:28 AM, Anonymous Anonymous said…

    Hello,

    I have developed a FREE, online budget tracking application.
    You can track your budget regardless of payment method (cash, credit, check, etc).
    Check it out at: http://www.checkthebudget.com

    Enjoy!

     
  • At 6:08 PM, Blogger Lacey said…

    85%?? That is crazy. That'd never get paid off.

    Budgeting for Our Wedding

     
  • At 1:39 PM, Anonymous pension said…

    85% is outrageous - how do people ever pay this off?

     
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Name: Steven shamedsteven
Home: San Diego
About Me: Well, boys and girls, I, like a whole bunch of other people, made a series of "conscious, deliberate mistakes" and have ended up with a buttload of debt. What is chronicled here are some musings about the journey out.
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