>certain amounts of percentage points and dollars are illegal

>>1412306
freetard

>>1412306
It protects you as well.

A mentally challenged person who has to borrow $20 at 500% interest a month has a 0% chance of paying you back.

>>1412309
yeah but even if they pay 40 back and then declare bankruptcy... damn...

File: Screen-Shot-2012-02-17-at-2.50.20-PM[1].jpg (158KB, 844x604px) Image search: [Google]

158KB, 844x604px

>>1412306
What are usury laws, white-man?

>>1412321
based natives, they represent true american freedoms, we shouldn't have broken those treaties

>>1412321
Hilarious. Borrow 5k today and pay it back in 84 convenient installments of only 486 dollars*.

>*Disregard the 819% markup, those problems are for tomorrow! You're here now, and you wouldn't be if you worried about those things, now would you?

Seriously though, they wouldn't be able to legally collect on that would they?

>>1412321

That is glorious

>>1412402
I don't think they can. He must send someone to "collect the debt" ie bust some knee caps.
$40500 repayment on $5000 loan.

>>1412306
think of it this way: if i get you shitfaced drunk and have you sign my 500% monthly compound interest loan just before you black out - do you want to be shit out of luck? you'd probably say "fuck this, i was barely concious, certainly not fit to sign a contract".

that's what those laws are for. for people who cannot or will not evaluate a loan offer rationally.

>>1412406
That's what I was thinking. Just regular loansharking I suppose.
Can you imagine the penalty fees for missing a payment?

>>1412424
>Can you imagine the penalty fees for missing a payment?
probably something on the order of your firstborn losing a finger...

>>1412428
the scalp of your firstborn

>>1412306
Well, good luck getting paid when the money isn't there