Oh Dear God, I sure hope this is a joke!

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Not quite a Newb Joined: 05 Jun 2013 Posts: 33

So, I was perusing some predatory lending consumer complaint sites, and I came across this gem in one of their forums:

Quote:

So I saw the Western Sky commerical for payday loans for $5k, when you read the fine print on the screen it says 84 monthly payments of 486.58 which equals 40,872.72 for the life of the payment.

Now, these kind of loans are really only useful if you intend on paying the money back very quickly. If you're paying over 84 months you're a fool - you should pay it back less than a month. For example, I just got out one of these loans for about 15,000$ but I'll be able to pay it back in a few weeks because I'll soon be getting 10% finders fee from an 87mil payout that I'm helping transfer to a US bank account from Nigeria. I needed the 15k fast in order to secure this transaction, but it'll be worth it because a) I'm getting 10% of that 8.7m and b) I can use that to pay back the loan right away. No brainer!

There was no email or contact info associated with the post, so no way of finding out if this is a sarcastic remark or not, but I certainly hope so, for the author's sake!

Baiting Guru Joined: 27 Mar 2011 Posts: 21158

Holy smokes! I have seen the western sky ads and they are very shady but that post is a ngihtmare.

Not quite a Newb Joined: 05 Jun 2013 Posts: 33

Not only would he be out the $15K he sent the scammer, but the $40K he would be required to pay back over the life of the loan. Shocked

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