Fast cash

Fast cash was Originally Posted on August 26, 2008 by

I pity those here in the states who fall for the TV commercial for Cashcall.

They use gary Coleman to advertise the service. As you may know, Coleman had lots of financial problems, so would normally be a great choice for advertising such a service.

Except for the fact the the company charges extremely high interest rates. If you have excellent credit, they will loan you $10,000 for over 29%! People with excellent credit would never use a service such as this when a bank would lend them money at under 10%.

So the people using this service would be those with horrible credit, those who could not get money elsewhere. People whom even organized crime would turn down. These people pay 70-99% interest in California!

Borrowing $1500 in Alabama would cost you 141%!!! So that $1500, they give you $1000 and keep the $500 for a loan fee.

Talk about being desparate to borrow money.