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Instalment loans the new high-interest danger f

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Instalment loans the new high-interest danger for consumers


Business | 207673 hits | Feb 27 6:49 am | Posted by: Regina
5 Comment

The second fastest growing type of debt in Canada is a high-interest, subprime, unsecured, short-term loan called an instalment loan. Marketed to people with bad debts and poor credit, instalment loans carry interest rates as high as 59 per cent. But the

Comments

  1. by avatar martin14
    Fri Feb 27, 2015 4:07 pm
    I am very happy I was raised in a proper household.

    If you want something:
    Wait until you saved the money, then buy it.

    Period.

    The only exception is a house.


    Is it really so difficult to understand ?


    "I don?t think anyone really understood. All they wanted was the money and they wanted it quick. And then you pay and you pay and you pay and you pay,"


    All the stupidity is contained right there.

  2. by avatar DrCaleb
    Fri Feb 27, 2015 4:20 pm
    I can't believe the interest rate on Usury is set at 60%. That just floors me. Next thing you know, Guido comes by every week to collect payments.

  3. by OnTheIce
    Fri Feb 27, 2015 4:26 pm
    "martin14" said
    I am very happy I was raised in a proper household.

    If you want something:
    Wait until you saved the money, then buy it.

    Period.

    The only exception is a house.


    Is it really so difficult to understand ?


    "I don?t think anyone really understood. All they wanted was the money and they wanted it quick. And then you pay and you pay and you pay and you pay,"


    All the stupidity is contained right there.


    It makes for a good foundation but doesn't tend to lead to being able to "live".

    If I need a car to go to work and mine dies do I start taking the bus before I can afford a new car with cash? Not likely.

  4. by avatar ShepherdsDog
    Fri Feb 27, 2015 4:30 pm
    I dunno. The stereotypical view of Jews is that they are frugal and good money managers, yet everyone in Israel seemed to be living on their credit cards. The Scots, another group viewed as being frugal.....well many are living on welfare provided by the English.

  5. by avatar BartSimpson  Gold Member
    Fri Feb 27, 2015 4:40 pm
    "ShepherdsDog" said
    The Scots, another group viewed as being frugal.....well many are living on provided by the English.


    :mrgreen:



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Who voted on this?

  • DrCaleb Fri Feb 27, 2015 6:51 am
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