037 - Gangster Loans
Gangster Loans. What are they? How do I know if I have one? Gangster Loans are not out to be your friend. They are “loans” that take advantage of you, mislead, & are in fact not actual loans. Listen to learn more about the allusive Gangster Loan that could leave you with nothing but empty pockets and misinformation.
Show Notes
Gangster Loans — What are they? (0:40)
The difference between a % of Fee and an Interest Rate. (3:50)
Gangster Loans are fundamentally deceptive! (4:03)
Quotable Moments
“Gangster loans are those loans you can get from companies online, maybe even from your credit card company, where they’re not really interested in your credit score.” — M (1:00)
“Gangster Loans are outrageously expensive. What my client thought was a 9% interest rate was actually a 36% interest rate.” — M (4:00)
“If you need money, find some other way. Stay away from gangster loans.” — M (4:30)
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