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WOW what a scam...
I really hope someone is not desperate enough to get a loan from Western Sky Financial. I saw one of their ads on tv and noticed the disclaimers at the bottom in the small print. not believing what I saw I took to the internet to verify and indeed I saw what I thought I saw.
This is a chart I copied from their website.
http://www.westernsky.com/General/Rates.aspx
I don't think even loan sharks charge this much interest on loans.
Loan Borrower Loan APR Number Payment Amount
Amount Proceeds Fee of Payments Amount Repaid
$10,000 $9,925 $75 89.68% 84 $743.49 = $62453.16
$5,075 $5,000 $75 116.73% 84 $486.58 = $40872.72
$2,600 $2,525 $75 139.22% 47 $294.46 = $13839.62
$1,500 $1,000 $500 234.25% 24 $198.19 = $4756.56
$850 $500 $350 342.86% 12 $150.72 = $1808.64
This is a chart I copied from their website.
http://www.westernsky.com/General/Rates.aspxI don't think even loan sharks charge this much interest on loans.
Loan Borrower Loan APR Number Payment Amount
Amount Proceeds Fee of Payments Amount Repaid
$10,000 $9,925 $75 89.68% 84 $743.49 = $62453.16
$5,075 $5,000 $75 116.73% 84 $486.58 = $40872.72
$2,600 $2,525 $75 139.22% 47 $294.46 = $13839.62
$1,500 $1,000 $500 234.25% 24 $198.19 = $4756.56
$850 $500 $350 342.86% 12 $150.72 = $1808.64
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