The Antique Blogger | Matures With Age

My latest bug-bear: short term loans.

These blasted adverts are always on the TV telling people if they're struggling to make ends meet, then they can get a same day loan or a pay day loan from Pay Day Lender, Quick Quid and Wonga.com to help them out.

But it's hardly helping them out! Most of them have a minimum of 2000+% APR! I saw one that was over 4000% this week! What a huge rip off that is!

I'm always getting these credit card and loan offers through the post that offer 0% APR - a figure I can much more easily get to grips with. It just feels like the people that are likely to take out these loans are the ones who really cannot afford to pay them back.

And then they must get absolutely huge charges and an interest on top! I hope I never need one.

Photo: tstadler (Flickr)