Can UK come out of Credit crunch??

Question

I am working in a small company located in London to earn daily bread and butter. With inflation soaring all time high, it has really become difficult to make a decent living. I know that the recent credit crunch has affected a lot of us.

It was Sunday, perhaps a blessed Sunday, when browsing through the internet, i found a website - 'Chance4Finance' . I found the scheme offered by them of real worth. I thought to share it with all my fellow friends. The scheme is:-

1.You have to apply for payday loan.

Refer 5 email IDs (nice way to help your friends).
Be the lucky one to get 100 absolutely free.

Isn't a great offer? You can visit -

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Andrew MacPherson · Accepted Answer

Agreed. Andrew McP

Alan · Answer

In message  , Andrew  MacPherson  wrote At least they are honest about the APR of typically 1355% - or is it  more?

Jonathan Bryce · Answer

1.  High inflation has nothing at all to do with the credit crunch.  Inflation would be much worse if it wasn't for the credit crunch. 2.  The typical APR for a payday loan is in excess of 10,000,000%.  If you are struggling to make ends meet, this is going to make things much much worse.

Jonathan Bryce · Answer

They typically charge 25%, and the average pay day loan is for three days.  That gives you an APR of 61,761,558,897,879%

Tim · Answer

"Jonathan Bryce" wrote Try 25% for a month - then you get ... err ... 1355.2% APR.

Tim · Answer

"Jonathan Bryce" wrote There are more than just 365 days in an *average* year!

Jonathan Bryce · Answer

Yes, but most pay day loans are not for a month, and they still charge 25% for a shorter loan.

Tim · Answer

"Jonathan Bryce" wrote

If it's "25% for anything upto a month", then (given that the punter is actually taking the payday loan -- perhaps they shouldn't!), surely they should just make sure that they don't repay it until the month is nearly up, rather than paying it back early?

Bazzer Smith · Answer

No it's a fooking scam.

Can UK come out of Credit crunch??

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