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Thread: How is this even legal?

  1. #1
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    How is this even legal?

    We've all seen this awful 'Problem Solver' loan......yeah, if solving your problems means that you're ok with your digits getting broken by some Native American Indian Thugs -







  2. #2
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    Saw that about a year ago. Absolute bull****. Plus the stations that run the ad are scumbags too. Completely unethical. Indian loansharking.

  3. #3
    On the plus side, the higher loan you take out the better interest rate....and notice how the loan origination fee goes down as well.

    On the other hand, hate to see the penalty interest rate if you miss a payment!

    Makes sense though.

  4. #4
    The quick and easy answer is that the Sioux are a sovereign nation and are not subject to state and federal law. Its the same reason Indian tribes can operate casinos on tribal lands, thumbing their noses at the states in which the Indian reservations are located.

  5. #5
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    Quote Originally Posted by crossfire View Post
    Saw that about a year ago. Absolute bull****. Plus the stations that run the ad are scumbags too. Completely unethical. Indian loansharking.
    That's ****ing bullsht. A loanshark would never charge that much. Even gamblers have standards

  6. #6
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    I asked myself the same thing when I saw that.

    It basically isn't legal but since it operates on native american land, the US law doesnt really apply.

    Its sad that people are stupid enough to use this service.

  7. #7
    Oy...that's some ****ing vig!

  8. #8
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    Looks like a pretty solid business. lol

    I think the Mafia is even envious of those vigs!
    Last edited by THE_SOOTHSAYER; 02-19-2013 at 10:52 PM.

  9. #9
    Quote Originally Posted by Ruby2 View Post
    I asked myself the same thing when I saw that.

    It basically isn't legal but since it operates on native american land, the US law doesnt really apply.

    Its sad that people are stupid enough to use this service.
    Payday loans are just as bad... At least the AG's have started paying attention to those scams in the last few years...

  10. #10
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    So if you do the math a 'problem-solving' loan of 5,000.00 will cost you only about $40,000 after 84 payments

  11. #11
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    Quote Originally Posted by nyahay bus View Post
    The quick and easy answer is that the Sioux are a sovereign nation and are not subject to state and federal law. Its the same reason Indian tribes can operate casinos on tribal lands, thumbing their noses at the states in which the Indian reservations are located.
    And sell untaxed cigarettes.

  12. #12
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    Given the Hampur track record, I truly expected to see some hot chick whose appearance in age was of a questionable nature, Hanson-esque as it were.


    Color me disappointed

  13. #13
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    Quote Originally Posted by Fishooked View Post
    So if you do the math a 'problem-solving' loan of 5,000.00 will cost you only about $40,000 after 84 payments
    Yeah! Fish is doing math --- multi-digit multiplication, even!



    I really hope people don't fall for this scam. Even the lower amount loans are horrible.

    Loan = $1500
    Fee = $500
    Actual loan = $1000

    Pay back 24 payments of $198.19 = $4756.56


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