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high finance


marksr's Avatar
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12-05-17, 03:19 PM   #1 (permalink)  
high finance

Not sure why I get all these finance company offers in the mail as I never respond but the one that came today was a doozy. 35.9 % interest. $2,000 guaranteed loan amount. $1,900 and change pay back. Is it even legal to charge that much interest?


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12-05-17, 03:46 PM   #2 (permalink)  
Tell you what Mark, you're such a good guy, I'll float you a loan for 30%.


Measure it with a micrometer; cut it with an ax.

 
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12-05-17, 03:53 PM   #3 (permalink)  
The one I used to laugh at was a TV commercial with a girl made up in Native American garb and with tom-toms thumping in the background trying to get you to take their loan. Here's the fine print, I looked it up:

If you receive a $10,000 loan, you'll be paying 84 monthly payments of $743.49, and $62,453 in total (89.68% APR).

Would ANYBODY actually do that???


Measure it with a micrometer; cut it with an ax.

 
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12-05-17, 03:57 PM   #4 (permalink)  
Yes, it is legal to charge that much interest. Usury laws were repealed during the double-digit inflation we suffered during the Carter administration as I recall. The reasoning given, again as I recall, was that with such high inflation the lenders couldn't make any money and therefore couldn't extend credit.

I haven't received any great offers like that in many years. I think it is because I requested the credit bureaus to NOT "market" my credit rating. I don't recall what the exact term is but I rarely get any credit card or any other offers to extend me credit.

The crap mail I wish I could stop is the weekly plea from Comcast/Xfinity begging me to sign up and the several times a month offers from what I assume to be house flippers wanting to buy my home. Just these two things make up at least 25% of all my snail mail.

 
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12-05-17, 05:02 PM   #5 (permalink)  
It's been years since I got a credit card offer in the mail. Maybe because I've only had credit cards from the same credit union for decades. Most of my junk mail is mortgage offers of different types and health insurance offers.

 
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12-05-17, 05:40 PM   #6 (permalink)  
The crap mail I wish I could stop is the weekly plea from Comcast/Xfinity begging me to sign up
I get the same thing from Optimum. Several every week. Very creative too. Some come in an envelope marked personal. I was a customer of theirs in the past but have no plans to return.


~ Pete ~

 
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12-06-17, 04:32 AM   #7 (permalink)  
I'll float you a loan for 30%
No thanks, I have a strong aversion to paying interest. While I don't know what my credit cards interest rate are, it doesn't matter as I pay the bill in full each month.

If you receive a $10,000 loan, you'll be paying 84 monthly payments of $743.49, and $62,453 in total (89.68% APR)
WOW!!! couldn't image being that desperate or dumb.

The crap mail I wish I could stop is the weekly plea from Comcast/Xfinity begging me to sign up
Charter final quit sending me offers a few yrs ago after regular mailings for over 20 yrs ...... to my non serviceable address. If it wasn't for our electric company getting in the cable/internet/phone business - I'd still be stuck with dial up


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12-06-17, 05:01 AM   #8 (permalink)  
I keep getting mail ( junk mail) addressed to my long deceased father, who never lived at my address! And now I'm starting to get mail addressed to my father-in-law also deceased these many years.

My biggest annoyance is getting mail from Buffalo State College asking for money. When I moved from home I made sure not to give them my new address. That worked for many years until my mother decided that I might want their solicitations and she updated my address.

 
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12-06-17, 10:13 AM   #9 (permalink)  
Comcast used to send me advertising using a butchered version of my name. I called and told them to stop to no avail. Periodically they send a door-to-door solicitor trying to sign me up and I tell them to stop sending me the mail. They reply that they can't, I have to call their offices. About a year ago they finally started to spell my name correctly and added "or current resident" to make sure it would be delivered.

At my previous home I started to get a newspaper from a local fundamentalist church. I called the church and told them I was an atheist and did not want their newspaper. The pastor was quite rude and told me if I didn't want it to toss it myself. I called the post office and requested it not be delivered but was told if it had my proper address they had no choice but to deliver.

Every year I receive a card or letter from a local optometrist addressed to Hailey ***** who was a six-year old girl living here when her parents moved and I bought the place. That was eighteen years ago. Up until a year or two ago I would receive from one of the airlines a letter addressed to Hailey's father concerning his frequent flier mileage.

For the first couple of years I lived here I received offers addressed to my mother (who had died before I moved here) about re-subscribing to TV Guide.

I took a couple of music classes through the University of Washington extension classes. Now two or three times a year I get advertising from a premier music store about buying high end pianos. [I was never a matriculated student at the U of W.] I also get crap from the U of W alumni association asking me for a donation.

I made a "contribution" to the local PBS television station several years ago in order to get a specific "gift" premium. They continue to bug me to "renew your membership"; I think three times in the last month alone. They rarely produce any local programs anymore, and they rerun PBS programming til it runs out a person's ears. They have two sub-channels in addition to the main one, one dedicated 24 hours to little kid's programming but still the vast majority of the daytime programming on the main channel is also dedicated to kid vid. Why would I contribute to maintain this crap?

I swear, if it weren't for the unsolicited (read junk) mail I could probably get away with emptying my mail box only once a month. I would guess that about 80% of my mail is unsolicited advertising. Maybe if the USPS would increase the cost of second and third class mail along with all bulk mail rates they could erase their deficit.

Sorry for the hijack.

 
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12-06-17, 04:19 PM   #10 (permalink)  
If it weren't for junk mail the USPS would be out of business.

Junk mail doesn't bother me (although I don't get mail addressed to others - an advantage of being rural and having the same postman for at least 20 years?). I have a recycle bin between my front door and the mailbox. Junk mail seldom enters the house.

 
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12-07-17, 04:16 AM   #11 (permalink)  
although I don't get mail addressed to others - an advantage of being rural and having the same postman for at least 20 years?
I also have a rural address although I don't know how long the mail lady has been delivering my mail. At least once a month I get a neighbor's mail which I usually hand deliver. I suspect most of my neighbors don't do the same Before I retired, another painting contractor moved into the same mail route [different road] and I guess because I was the only one on the route that got a bill from SWP - they delivered his bill to me each month. After 6 months they finally got it right [or maybe the guy moved]

My wife along with one of the neighbors has complained to the post office about wrongly delivered mail multiple times but they always give the same response - she's been delivering mail for a lot of years with no complaints


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12-07-17, 04:21 AM   #12 (permalink)  
Been in my house 15 years and still get mail for former owner at least a couple times a year. I even put my name hanging down inside box but does not help. With name I also put please close door, that has worked.

 
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