CashCall.com
One of the benefits of working at home is that I get to catch up on a little bit of TV over lunch while I step out of the ‘office’. I’ll usually check out Sports Center or Law & Order. I get all my news and stock info from the web so I don’t check the tv for it.
As we all know, the ad spots on cable during the day are filled with direct marketing spots. Lawyers, Life Alert, dieting, trade schools, etc…
Today I saw an ad for CashCall.com. I’ve seen this ad before, but today I took the time to read the disclaimer. Say what you will about that. It’s your basic “Turned down for a loan? Call us now and get money fast!” deal.
The disclaimer is what completely shocked me. Here’s what you get if you borrow $2,600 from CashCall.com…
99.25% APR
42 payments of $216.55
$75 origination fee.
If you borrow $2,600 you will pay them back $9,095.10! That’s insane! Doesn’t that cross the line of predatory lending somehow? I feel like I could get a better rate if I borrowed from Bruno down the block!
