CashCall.com - 99.25% Interest Rate
advertising on A&E TV!!

I was shocked to see cashcall.com advertising on the A&E television station.

They're advertising here in Canada on the American Justice TV show. And they're telling people that they'll lend up to $5,075. The disclaimer at the bottom of the screen shows that they're charging 99.25% interest.

I talked about this before on this blog entry highest interest rate possible

The only difference was that I hadn't actually seen that commercial on TV... I did see it for myself this time.

Oh My Goodness.!! I couldn't believe it.!!

Fortunately, as this disclaimer describes, Loans made to residents of California, Idaho, New Mexico, and Utah will be underwritten and funded by CashCall. Loans made to residents of all other states (excluding Iowa, Massachusetts, Nevada, New York, New Jersey and West Virginia) will be underwritten and funded by First Bank of Delaware (Member FDIC).

This company cannot service Canada!! Even though they're advertising to Canadians.

Screen Shot of Cashcall.com


On this screen shot you can see that their interest rates range from: 59.46% -99.25% interest.

MY THOUGHTS
It really scares me to think that this company is making enough money to advertise on A&E TV , which can't be cheap!

Is the U.S. market in such bad shape that people are really going for this high interest loan in that type of numbers?!!

There must be numerous amounts of people who are in trouble financially and are looking for a lender of this nature for help!

Canadians, Please DO NOT use this type of lender ever!

I just noticed this article on money.cnn.com
Wall Street's worst day in 3 months and this one
Recession is here - economists

These are probably strong indicators that alot of people are in trouble financially at the moment. It's a good time to pay down debt and put cash reserves in the bank!.