[big al]

Problem is that there will always be some who do not see the small print either by ignorance or desperation & then wrap themselves up in a life time of debt. Although trading legally the rates are illicit by way of entrapment. My point is that there should be better information available regarding what interest rates mean & not hidden in the small print. I am lucky to have worked for a short time in the industry so am aware of the meaning of APR but many caught in the web of these companies will not realise until it is pointed out to them by which time it is too late contractually. The addage of wait till you can afford is good for those not tempted but people using these companies are usually already on their way to trouble financially. As I noted before these people are usually unable to either wait & save or unable to borrow from conventional avenues at affordable rates. In the old days this led to people using the local loan shark, which has been addressed to some extent legally. A company is in business to make a profit at the end of the day but there is a difference between profit & ripping people off with exorbitant rates which I consider 200+% to be. I would welcome such companies to justify these rates. Likely they will decline as there is no excuse!