Despite claim that they are finding hard to run this business, there are more companies showing up in advertisement in the Newpaper. It is obvious that some are under the same 'boss'. My recent finding really horrifying me...
With no deduction of first payment, prepare to pay additional 6% interest. On top of that the acceptance fee rocket from 5% to 15-20%. which is 3-4 times more. Adding the interest for 5-6 weeks. It is indeed more than 50% more to pay. As such they can offer low interest which is masked inside the acceptance fee. So these legal loansharks are growing fat... Maybe should call them a loan dinosaur. I believe the illegal moneylender do not charge that high interest.
With the recent GE rallying for vote, it is surprise that no one bring up this issue. It is more surprise that such business can be run in broad daylight.
So it is inflation and hope you find this information useful.
