Financial rip offs!!!!!!!!!!!!!!!!?

Lers see who can find the biggest example of rip offs in the UK. Here is one I found on a pop up sponsored by the Nationwide. This is an extract of an add for "Log Book Loans":- You can obtain a bad credit loan through Logbook Loans which is an ideal solution if you are in need of a secured loan, payday loan or bad credit loan. A Logbook Loan is ideal for people who may currently have bad credit through no fault of their own. You can take a bad credit loan which is a secured loan against your cars Logbook. Loan Amount Weekly Repayment Loan Term APR Total Repayable £1,500 £53.60 78 weeks 437.4% £4,180.80 Please note, you can make significant savings if you choose to settle your loan early: Settling after 1 month : £1,845.27 (total payable) ¼ of the term (20 weeks) : £2,601.90 (total payable) ½ of the term (39 weeks) : £3,408.18 (total payable) ¾ of the term (59 weeks) : £4,060.00 (total payable) APR 437.4 anyone beat that? The annoying part about it is, it was these disgusting financial institutions greed that caused the present financial climate which led to both them and the public losing fortunes. Both being victims you would expect them to try to help both parties to recover. Oh no, these institutions just want to rip you off all over again to recover what they lost. The financial sector are the cancer of any society Barbara Dol Sorry you are wrong, it was not the bad credit borrowersa who started the credit crunch, it was the greedy investors who decided tobuy into that borrowing who started it and encouraged it. Many people have bed credit for the most trivial of things, are you any better than they? Mrs Mary Parker from New York Yeah Yeah Yeah!, I did not just get off the Banana boat, but good try!

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1) I was once offered a £1000 loan at £100 per month for 48 months. I just laughed. =P I have a letter somewhere, I'll let you know who they are. Beneficial Finance, Barnsley, S.yorkshire

2) It makes you wonder what sort of sick country allows this to go on.

3) People with bad credit shouldn't take loans at all. Not even bad deals. That's what started all these problems.

4) How can a building society let an advert for a loan shark appear on its site? I haven't got an example of a rip off, but in the county I used to live in, I had a credit union loan with 12% APR, and I recently applied for a loan from my new credit union at 26.8% APR. I was annoyed at this, as credit unions are supposed to help people on low incomes, not rip them off by charging 26.8% APR.

5) The really sad thing is that their are people out there who are so illiterate, ignorant or desperate who get sucked into this fiscal terrorism. But as the Banks run the Country there is no chance of Governmental intervention against this extortion.

6) It is disgusting that their is no vetting in these sectors to protect the public to such bad packages. It is unbelievable that it is allowed on the market as an option to solve your financess for what ever reason.Society has changed that we are not willing to save and then buy. Instead it is easier to get a loan for a holiday or that must have dress. They have seen the opportunity for money being made to those that are unwitting roped into the deals. I suppose it is just experience through your mistakes that makes you so much more couscous about taking any form of credit these days.

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