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Hedonist
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Posted: 6/25/2010 4:35:32 PM
[Last Edit: 6/25/2010 4:40:51 PM by Hedonist]
Been seeing these TV commercials for loans, like payday loans...

Indian guy in suit talks while drum beats on the soundtrack... "Yeah, our loans are expensive..."

A little bit of Googling, and 139% pops up.

I don't need a loan - but if I did I'm not sure I'd be dealing with some Indians running a Bank on the reservation.

Is this another case of the Indians using the reservation to get around laws that they are exempt from?

If someone can find the video, please post it - it's mildly entertaining.

Just found this on another site, where someone read the fine print:
- 139% Interest Loan- Yes, 139% INTEREST!!!
- 75$ "Origination" Fee once loan is approved
- 36 Monthly Payments of $297 if loan isn't paid off early (This means you pay $10,692 over 3 years to pay back a $2,500 Loan- WOW)
- Loan can be paid off early with no penalties

Here's the website: http://www.westernsky.com

You have to be desperate, or dumb - to make a deal with these Indians.
I don't always get to the range, but when I do, I prefer Dos AKs.
ORIGINAL-Waterdog
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Posted: 6/25/2010 7:34:49 PM
[Last Edit: 6/25/2010 7:36:16 PM by ORIGINAL-Waterdog]
If it's their money on their rez, who gives a fk. If some dumbass borrows from them at that rate... oh well live and learn.

happycynic
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Posted: 6/25/2010 7:37:59 PM
139% Fuck that. How about I offer them some beads and fire-water instead?

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RichHead
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Posted: 6/25/2010 7:39:20 PM
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?
TerribleTom
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Posted: 6/25/2010 7:40:52 PM
Brilliant! Those guys are going to make a killing with that deal.
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happycynic
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Posted: 6/25/2010 7:41:15 PM

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.
Live Free or Die; Death is Not the Worst of Evils

- Revolutionary General John Stark
ORIGINAL-Waterdog
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Posted: 6/25/2010 7:44:00 PM
Originally Posted By TerribleTom:
Brilliant! Those guys are going to make a killing with that deal.


Yup, just like all the dumbasses pouring money into the indian casinos.

No different than gizmo phones, bling, bling ARs, and rap music.

There are suckers born every minute.
SevenMMmag
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Posted: 6/25/2010 7:44:48 PM
139% interest
ORIGINAL-Waterdog
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Posted: 6/25/2010 7:45:08 PM
Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.


Are the indians walking around amongst the general public twisting arms?

RichHead
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Posted: 6/25/2010 7:45:08 PM
Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.


It sure is. I didn't catch that. They must be taking advantage of something there.

"...a sovereign nation located within the United States of America."

True story.
Schadenfreuda
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Posted: 6/25/2010 7:45:32 PM
What are they holding as collateral?

My signature is useless.
robplumm
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Posted: 6/25/2010 7:45:41 PM

Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.

Yup. Been a lot of laws lately limiting pay day loan places (federally, too I believe).

I assume since this is on an reservation, it doesn't apply to them.

Fuck the injuns.
happycynic
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Posted: 6/25/2010 7:47:06 PM

Originally Posted By Schadenfreuda:
What are they holding as collateral?

My signature is useless.

That's the question. I'm not sure how they enforce this in court. Foreign country makes things messy.
Live Free or Die; Death is Not the Worst of Evils

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d90king
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Posted: 6/25/2010 8:00:21 PM
Interesting.
Green95LX
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Posted: 6/25/2010 8:11:05 PM
[Last Edit: 6/25/2010 8:14:09 PM by Green95LX]
He says
"Yes, the money is expensive but you can keep the cost down by paying it back as fast as you can"

Also, the interest rate is 199.98% on a 1500$ dollar loan
They charge you a 500$! "loan fee" so you only get 1000$ right off the bat
Then 12 payments at 198.18$, thats 2378.16$ if you pay the minimum payments!
gonzo_beyondo
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Posted: 6/25/2010 8:12:54 PM

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

I reckon so.

Payday loans are the motherfuckin' debil. Paleface or otherwise!
"Conditional and environmental awareness is a powerful survival tool. Write that down. " U.T.
BURN
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Posted: 6/25/2010 8:13:03 PM
the first time my wife saw that commercial she thought it was part of the Reno 911 show she was watching at the time....
I need machines
happycynic
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Posted: 6/25/2010 8:20:15 PM

Originally Posted By gonzo_beyondo:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

I reckon so.

Payday loans are the motherfuckin' debil. Paleface or otherwise!

One of the better parts of being a L&E attorney is that you get to send the FU letters to the payday companies. I don't care what contract you have, goobermint says we have to pay the worker.
Live Free or Die; Death is Not the Worst of Evils

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RichHead
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Posted: 6/25/2010 8:34:39 PM
[Last Edit: 6/25/2010 8:40:08 PM by RichHead]
Originally Posted By robplumm:

Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.

Yup. Been a lot of laws lately limiting pay day loan places (federally, too I believe).

I assume since this is on an reservation, it doesn't apply to them.

Fuck the injuns.


Wait.... What?

ETA: I forgot where I was for a second.


Carry on.
robplumm
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Posted: 6/25/2010 8:37:29 PM

Originally Posted By RichHead:
Originally Posted By robplumm:

Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.

Yup. Been a lot of laws lately limiting pay day loan places (federally, too I believe).

I assume since this is on an reservation, it doesn't apply to them.

Fuck the injuns.


Wait.... What?

Guess I should clarify the ones that sit on the reservation sucking up government funds...not the actual working, contributing to society ones ;)
Hedonist
Keep shooting, my friends...
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Posted: 6/25/2010 8:38:08 PM
"Hello, this is Kicking-Skull - pay your fucking bill or we'll skin your head".
I don't always get to the range, but when I do, I prefer Dos AKs.
sparsedirect
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Posted: 6/25/2010 8:40:26 PM
Originally Posted By ORIGINAL-Waterdog:

Are the indians walking around amongst the general public twisting arms?



Bears repeating.
SenselessPuma
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Posted: 6/25/2010 8:42:01 PM
Originally Posted By happycynic:
139% Fuck that. How about I offer them some beads and fire-water instead?



HEY!

We have that already.
Government cover-ups weren't part of my job description!
ragedracer1977
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Posted: 6/25/2010 8:44:01 PM
So, if the reservation is a sovereign nation, and they are making the loan from that nation based on that nation's laws, can they actually force anyone from outside of that sovereign nation to pay them back?
"When you have made evil the means of survival, do not expect men to remain good... ...Do not expect them to produce, when production is punished and looting rewarded. Do not ask, ‘Who is destroying the world? You are." Ayn Rand
Hedonist
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Posted: 6/25/2010 8:47:03 PM
This is how obama will be financing the National debt!
I don't always get to the range, but when I do, I prefer Dos AKs.
D348
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Posted: 6/25/2010 9:12:20 PM
Timber Lake SD business advertising in TX. Hmmm, I wonder why we don't get those up here. Looks my brothers have found another way to seperate a honky from his money. Much like the casinos.
gonzo_beyondo
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Posted: 6/25/2010 9:18:53 PM

Originally Posted By happycynic:

Originally Posted By gonzo_beyondo:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

I reckon so.

Payday loans are the motherfuckin' debil. Paleface or otherwise!

One of the better parts of being a L&E attorney is that you get to send the FU letters to the payday companies. I don't care what contract you have, goobermint says we have to pay the worker.

Interesting, I didn't know that.

"Conditional and environmental awareness is a powerful survival tool. Write that down. " U.T.
TrijiCog
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Posted: 6/25/2010 9:30:18 PM

Originally Posted By D348:
Timber Lake SD business advertising in TX. Hmmm, I wonder why we don't get those up here. Looks my brothers have found another way to seperate a honky from his money. Much like the casinos.

Word up.
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DougH9
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Posted: 6/25/2010 9:34:19 PM
Well, who is going to loan our Gov't money when the China says NO MORE!
LuvBUSHmaster
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Posted: 6/25/2010 9:40:38 PM
TAGscribed.

"There comes a time when every man feels the urge to spit on his hands, hoist the black flag, & start slitting throats" Mencken

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bulldog1967
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Posted: 6/25/2010 10:15:25 PM

Originally Posted By Schadenfreuda:
What are they holding as collateral?

My signature is useless.

Scalps.
Fellow Virginians! Help protect YOUR 2nd Amendment rights!

JOIN the Virginia Citizen's Defense League!

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Green95LX
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Posted: 6/26/2010 3:20:59 AM
Originally Posted By bulldog1967:

Originally Posted By Schadenfreuda:
What are they holding as collateral?

My signature is useless.

Scalps.


They better be armed to the teeth.
Zombie36
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Posted: 6/26/2010 10:41:16 AM
honky?
madmathew
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Posted: 6/26/2010 10:46:01 AM

Originally Posted By RichHead:
Originally Posted By robplumm:

Originally Posted By happycynic:

Originally Posted By RichHead:
With all the different shady payday loan outfits out there, what was so special about this one that warranted it being pointed out? Was it the indian part?

Most states have limits on the interest rate, for instance 17% is the limit in Texas. 139% is exploitative to the n-th degree.

Yup. Been a lot of laws lately limiting pay day loan places (federally, too I believe).

I assume since this is on an reservation, it doesn't apply to them.

Fuck the injuns.


Wait.... What?

ETA: I forgot where I was for a second.
http://a.abcnews.com/images/Blotter/white_racists_081029_mn.jpg

Carry on.
That is some bullshit!!! I agree, why do we give special status to a group of people who fought as an enemy?

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Coltman77
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Posted: 6/26/2010 10:56:33 AM
[Last Edit: 6/26/2010 11:08:04 AM by Coltman77]
Abused Native Americans looking for a little payback.

ETA

Fuck 'em.
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barrysuperhawk
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Posted: 6/26/2010 11:58:35 AM
Least the Indians arent waiting around on the Government to pay them reparations... LOL they are going out and getting their own reparations..

Casinos and payday loans are VOLUNTARY folks. Nobody [to my knowledge] has ever been forced at gunpoint to go to a casino or a payday loan store and give all their money away...