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Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011

Just saw this commercial and this can't be real

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.

 

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Super Contributor
Posts: 9,674
Registered: ‎01-28-2010

Re: Just saw this commercial and this can't be real

 

"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......

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Valued Contributor
Posts: 1,115
Registered: ‎10-31-2011

Re: Just saw this commercial and this can't be real


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......


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

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Blogger
Posts: 2,876
Registered: ‎02-02-2012

Re: Just saw this commercial and this can't be real

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

 

Nothing surprises me anymore.

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Regular Contributor
Posts: 565
Registered: ‎06-12-2010

Re: Just saw this commercial and this can't be real

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


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Established Contributor
Posts: 852
Registered: ‎09-18-2007

Re: Just saw this commercial and this can't be real

Yousa!

 

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


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Re: Just saw this commercial and this can't be real

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