Just saw this commercial and this can't be real

[beb86]

Take a look at this loan service from western sky....

http://www.westernsky.com/General/Rates.aspx

I saw the commercial and noticed the rate at the bottom of the screen and thought it couldn't be real...well looked and the website and was shocked...do people really do this, I mean you must be desperate.

[pizzadude]

"WESTERN SKY FINANCIAL is a Native American business operating within the exterior boundaries of the Cheyenne River Sioux Reservation, a sovereign nation located within the United States of America"

I think this pretty much means they can charge whatever interest rates they want......

[beb86]

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@pizzadude wrote:

"WESTERN SKY FINANCIAL is a Native American business operating within the exterior boundaries of the Cheyenne River Sioux Reservation, a sovereign nation located within the United States of America"

I think this pretty much means they can charge whatever interest rates they want......

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haha yeah I mean the disclose there rates pretty openly but who in there right mind would take a loan from them.

[FrugalRican]

beb86, I'm pretty sure there are plenty of people that would resort to that type of an action.

Nothing surprises me anymore.

[Anonymous]

if you do the math on payday loans it works out to like 400% APR

[demi]

Yousa!

Interesting, they don't have rates listed for California....but I have seen their advertisements.

[llecs]

Here's a recent thread on them:

http://ficoforums.myfico.com/t5/SmorgasBoard/The-Mafia-probably-has-better-APR/m-p/1272081/highlight...