Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
Member Login

Log In

A valid email is required.
Password is required.
Site Notices
6/21/2017 8:25:40 PM
Posted: 6/25/2010 12:35:32 PM EDT
[Last Edit: 6/25/2010 12:40:51 PM EDT 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.
Link Posted: 6/25/2010 3:34:49 PM EDT
[Last Edit: 6/25/2010 3:36:16 PM EDT 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.

Link Posted: 6/25/2010 3:37:59 PM EDT
139% Fuck that. How about I offer them some beads and fire-water instead?

Link Posted: 6/25/2010 3:39:20 PM EDT
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?
Link Posted: 6/25/2010 3:40:52 PM EDT
Brilliant! Those guys are going to make a killing with that deal.
Link Posted: 6/25/2010 3:41:15 PM EDT

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.
Link Posted: 6/25/2010 3:44:00 PM EDT
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.
Link Posted: 6/25/2010 3:44:48 PM EDT
139% interest
Link Posted: 6/25/2010 3:45:08 PM EDT
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?

Link Posted: 6/25/2010 3:45:08 PM EDT
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.
Link Posted: 6/25/2010 3:45:32 PM EDT
What are they holding as collateral?

My signature is useless.
Link Posted: 6/25/2010 3:45:41 PM EDT

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.
Link Posted: 6/25/2010 3:47:06 PM EDT

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.
Link Posted: 6/25/2010 4:00:21 PM EDT
Interesting.
Link Posted: 6/25/2010 4:11:05 PM EDT
[Last Edit: 6/25/2010 4:14:09 PM EDT 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!
Link Posted: 6/25/2010 4:12:54 PM EDT

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!
Link Posted: 6/25/2010 4:13:03 PM EDT
the first time my wife saw that commercial she thought it was part of the Reno 911 show she was watching at the time....
Link Posted: 6/25/2010 4:20:15 PM EDT

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.
Link Posted: 6/25/2010 4:34:39 PM EDT
[Last Edit: 6/25/2010 4:40:08 PM EDT 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.
Link Posted: 6/25/2010 4:37:29 PM EDT

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 ;)
Link Posted: 6/25/2010 4:38:08 PM EDT
"Hello, this is Kicking-Skull - pay your fucking bill or we'll skin your head".
Link Posted: 6/25/2010 4:40:26 PM EDT
Originally Posted By ORIGINAL-Waterdog:

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



Bears repeating.
Link Posted: 6/25/2010 4:42:01 PM EDT
Originally Posted By happycynic:
139% Fuck that. How about I offer them some beads and fire-water instead?



HEY!

We have that already.
Link Posted: 6/25/2010 4:44:01 PM EDT
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?
Link Posted: 6/25/2010 4:47:03 PM EDT
This is how obama will be financing the National debt!
Link Posted: 6/25/2010 5:12:20 PM EDT
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.
Link Posted: 6/25/2010 5:18:53 PM EDT

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.

Link Posted: 6/25/2010 5:30:18 PM EDT

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.
Link Posted: 6/25/2010 5:34:19 PM EDT
Well, who is going to loan our Gov't money when the China says NO MORE!
Link Posted: 6/25/2010 5:40:38 PM EDT
TAGscribed.

Link Posted: 6/25/2010 6:15:25 PM EDT

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

My signature is useless.

Scalps.
Link Posted: 6/25/2010 11:20:59 PM EDT
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.
Link Posted: 6/26/2010 6:41:16 AM EDT
honky?
Link Posted: 6/26/2010 6:46:01 AM EDT

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?

Link Posted: 6/26/2010 6:56:33 AM EDT
[Last Edit: 6/26/2010 7:08:04 AM EDT by Coltman77]
Abused Native Americans looking for a little payback.

ETA

Fuck 'em.
Link Posted: 6/26/2010 7:58:35 AM EDT
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...
Top Top