There is something that needs to be stopped ............ the other day we got a rather large check in the mail, on the outside of the envelope it said Check inside. The check was from a finance company, which is bad enough, but the interest was ONLY 48% ............. YES I said ONLY 48% INTEREST, this is the field I worked in for most of my life ............. Do they think people are stupid enough to cash the check without looking at the INTEREST???? I guess they think people are stupid ............ lets see if the check was for only $1,000.00 and the interest was $480.00 and the loan was paid off in one year the payments would $124.00 per month, BUT.......... they said the payments were so much small ........ if this loan is paid off in three years that means the loan company would ONLY get $1,440.00 in interest on a loan of $1,000.00. I wonder what happens IF someone gets the check and their name isnt the one on the check .......... I personally shred anything that looks like it came from a loan company. There is just too many thing that happen in the world where someone has a check like this sent to them in the mail, and someone else cashes the large check.
Posted on: Tue, 26 Nov 2013 05:40:33 +0000