My son is watching the Childrens TV channel Cartoonito this morning. So of all the companies advertising on Christmas Eve on a children's channel, what is being advertised ? A "Pay Day" loan company offering to loan people money that would be in their account by 2.30 this afternoon, repayable at an interest rate of 2356% APR !
Talk about a shameful way to behave. Knowing that many parents will be finding it very hard this year to afford to buy gifts for their children and saying to those parents "We can give you some money ... at a price".
These companies that rip of vulnerable people (and lets face it, you have to be in a vulnerable mental or financial state to take out one of these loans) should be outlawed. They prey on other people's misery and make them worse.
Can I sust say who ever is behind the company advertising on Cartoonito today, I wish you misery and shame on you.
Update - Even worse, they are saying they will give "25% off" to people who apply today. This is not what you might feel to be 25% off though. For me and you 35% 25% means a quarter. But to this Pay Day loan company it means "25% off the 2356% interest rate" giving people only 2331% APR instead !