# Need cash? Gary Coleman has a 99.25% APR loan for you! **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [July 24, 2007, 7:33am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870 "2007-07-24T07:33:08Z")\ **Posts on this page:** 20\ **Page:** 1
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 24, 2007, 7:33am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/1 "2007-07-24T07:33:08Z")
No, that isn’t a typo, and I didn’t put the decimal place in the wrong spot. A co-worker came in talking about this infomercial with Gary Coleman pitching 99.25% APR loans. I thought to myself, no, can’t be. So I threw “99.25% APR” into google, and what do you know. [http://www.getrichslowly.org/blog/2007/07/10/gary-coleman-pitches-outrageous-9925-apr-loans/](http://www.getrichslowly.org/blog/2007/07/10/gary-coleman-pitches-outrageous-9925-apr-loans/) So for their “typical loan of $2600 for 42 months @ 216.55/month” (that’s their words, not mine), you’d only have to pay back $9095.10. You can get a deal though if you borrow more. They’ll drop it down to 59.95% APR for a $5075 loan, but push the payments out to 84 months. You’d end up spending $21338.52 paying back that $5075 loan. ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [July 24, 2007, 7:34am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/2 "2007-07-24T07:34:16Z")
holy shit. There’s a sucker born everyday tho… You would not believe some of the people that I see & talk to. ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [July 24, 2007, 7:37am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/3 "2007-07-24T07:37:46Z")
Illegal rates. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 24, 2007, 7:40am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/4 "2007-07-24T07:40:32Z")
[quote=“AWDrifter,post:3,topic:32870"”] Illegal rates. [/quote] That’s exactly what we though. We’ve got tons of experience with banking regulation stuff here at work, and none of us can figure out how they can do this legally. Interesting fine print here: “Loans made to residents of California, Idaho, Nevada, New Mexico, and Utah will be underwritten and funded by CashCall. Loans made to residents of all other states (excluding Iowa, Massachusetts, Minnesota, New Jersey, New York, West Virginia and Wisconsin) will be underwritten and funded by First Bank of Delaware (Member FDIC).” So they don’t give loans in NY and some other states at all, and in some states they have to personally float the loan. ---
**Author:** ![newman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/newman/32/7569_2.png) [@newman](https://forums.speedlife.net/u/newman)\ **Post date:** [July 24, 2007, 7:42am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/5 "2007-07-24T07:42:14Z")
god gary coleman is creepy. ---
**Author:** ![RobHimself](https://avatars.discourse-cdn.com/v4/letter/r/e480ec/32.png) [@RobHimself](https://forums.speedlife.net/u/RobHimself)\ **Post date:** [July 24, 2007, 7:44am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/6 "2007-07-24T07:44:17Z")
who the fuck would be dumb enough to even ask people if they want this? ---
**Author:** ![Blue\_Eyed\_Devil](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/blue_eyed_devil/32/7292_2.png) [@Blue\_Eyed\_Devil](https://forums.speedlife.net/u/Blue_Eyed_Devil)\ **Post date:** [July 24, 2007, 7:46am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/7 "2007-07-24T07:46:11Z")
I believe it is called usury. Otherwise known as loan sharking.:biglaugh: ---
**Author:** ![Fry](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/fry/32/7284_2.png) [@Fry](https://forums.speedlife.net/u/Fry)\ **Post date:** [July 24, 2007, 7:49am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/8 "2007-07-24T07:49:26Z")
If someone’s dumb enough to do that, they deserve it. ---
**Author:** ![JoesTypeS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joestypes/32/7190_2.png) [@JoesTypeS](https://forums.speedlife.net/u/JoesTypeS)\ **Post date:** [July 24, 2007, 7:52am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/9 "2007-07-24T07:52:05Z")
They’re classified as pay-day advances so they don’t fit under typical usury laws…I fucking love this industry it’s taken all the heat of my industry ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [July 24, 2007, 7:53am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/10 "2007-07-24T07:53:02Z")
[quote=“JayS,post:4,topic:32870"”] So they don’t give loans in NY and some other states at all, and in some states they have to personally float the loan. [/quote] i’d noticed that too. wonder where the loophole is. nevermind. ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 24, 2007, 7:54am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/11 "2007-07-24T07:54:51Z")
[quote=“JoesTypeS,post:9,topic:32870"”] They’re classified as pay-day advances so they don’t fit under typical usury laws…I fucking love this industry it’s taken all the heat of my industry [/quote] By law you can only advertise pay-day advances as a fee, not a loan rate. Once you attach a rate it’s not longer a pay-day advance. We looked into this when we wrote our courtesy pay module for our credit union software. Some CU’s wanted to charge their members a rate instead of a flat fee, but we couldn’t legally add that feature. ---
**Author:** ![Calico\_Angel](https://avatars.discourse-cdn.com/v4/letter/c/67e7ee/32.png) [@Calico\_Angel](https://forums.speedlife.net/u/Calico_Angel)\ **Post date:** [July 24, 2007, 7:57am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/12 "2007-07-24T07:57:47Z")
Wow, is anyone really going to go for one of these loans? ---
**Author:** ![ultradriver10000](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/ultradriver10000/32/7397_2.png) [@ultradriver10000](https://forums.speedlife.net/u/ultradriver10000)\ **Post date:** [July 24, 2007, 8:07am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/13 "2007-07-24T08:07:20Z")
I just got a 10,000 loan for 150 months at 500 a month !! I’m so excited ---
**Author:** ![Avatar](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/avatar/32/5076_2.png) [@Avatar](https://forums.speedlife.net/u/Avatar)\ **Post date:** [July 24, 2007, 8:09am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/14 "2007-07-24T08:09:31Z")
That’s actually not a bad “rate” comparatively LOL… ---
**Author:** ![Nikuk](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/nikuk/32/7254_2.png) [@Nikuk](https://forums.speedlife.net/u/Nikuk)\ **Post date:** [July 24, 2007, 8:14am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/15 "2007-07-24T08:14:25Z")
[quote=“Avatar,post:14,topic:32870"”] That’s actually not a bad “rate” comparatively LOL… [/quote] :lol: :bloated: stick with currency ---
**Author:** ![AFhockey31](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/afhockey31/32/5086_2.png) [@AFhockey31](https://forums.speedlife.net/u/AFhockey31)\ **Post date:** [July 24, 2007, 8:20am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/16 "2007-07-24T08:20:58Z")
ya know whats funny… read the second pic… where it says “credit approval is not guaranteed” how horrible of a person would you have to be to not get approved for a 99% interest loan ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 24, 2007, 8:26am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/17 "2007-07-24T08:26:57Z")
[quote=“AFhockey31,post:16,topic:32870"”] ya know whats funny… read the second pic… where it says “credit approval is not guaranteed” how horrible of a person would you have to be to not get approved for a 99% interest loan [/quote] Lender: “I see you’ve declared bankruptcy two times”. Borrower: “Only two… you must be working from an old list”. ---
**Author:** ![JUICEDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/juicedss/32/7185_2.png) [@JUICEDSS](https://forums.speedlife.net/u/JUICEDSS)\ **Post date:** [July 24, 2007, 8:42am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/18 "2007-07-24T08:42:45Z")
InB4DOSsaysIneedmoreturbomoneyanddebt… ---
**Author:** ![suzukiriderman](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/suzukiriderman/32/7421_2.png) [@suzukiriderman](https://forums.speedlife.net/u/suzukiriderman)\ **Post date:** [July 24, 2007, 11:07am UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/19 "2007-07-24T11:07:28Z")
Oh I’m sure plenty of people will do it. ---
**Author:** ![Rx3](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/rx3/32/7194_2.png) [@Rx3](https://forums.speedlife.net/u/Rx3)\ **Post date:** [July 24, 2007, 12:35pm UTC](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870/20 "2007-07-24T12:35:23Z")
So that was what that new Gary Coleman commercial was for. [Next page](https://forums.speedlife.net/t/need-cash-gary-coleman-has-a-99-25-apr-loan-for-you/32870.md?page=2)