Loans they way they where meant to be

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Loans they way they where meant to be

Post by Doulmagnus » Tue Jun 23, 2009 12:04 pm

A financial company in Latvia is offering residents loans secured by nothing but their immortal soul.

Riga-based firm, named Kontora, does not require credit history record or proof of employment. It grants loans of 50 to 500 Latvian lats ($100 to $1,000) to any adult after he or she signs the a very short agreement.

According to the agreement, the only security required of the borrower is their immortal soul, which they are asked to confirm as their previously unmortgaged property.

The loan is subject to one percent per day in interest until full repayment.

The period of full repayment is 90 days, and in case the borrower fails to return the money, the creditor gets full possession of his soul.

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Post by Lealla » Tue Jun 23, 2009 12:12 pm

Screw the soul, that's a 3,778% APR. No thanks.

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Post by Heartwood » Tue Jun 23, 2009 12:50 pm

1% interested compounded daily... That is a deal with the devil...

It reminds me of the old sucker's deal:

"Ok, tell you what. I'll work for you for $0.01 if you agree to double my pay every day for the next month and after that I'll work for you for free for the rest of the year."

That innocent little deal has the *single day* wage being $10.7 million (not counting the previous days' payments). I'd gladly sign that deal with an unwise employer...
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Post by Polarside » Wed Jun 24, 2009 9:52 am

I'll take it. There is no soul to give. Suckers...
Shhh! Theres a dead horde in my trunk. Wanna see it? Fuck around and you'll be it.

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