A Sceptical Mind

I was watching tv the other day and suddenly this add came up:

Mikrolån: Du kan vælge at låne 1.000 kr. eller 2.000 kr. (til Danmarks laveste afgift). Lånet skal tilbagebetales inden 30 dage.

Now.. this is obviously Danish. Roughly translated it means:

Micro loans: You can choose to loan 1000 Danish Kroners or 2000 Danish Kroners (at the lowest rate in Denmark). The loan has to be repaid within 30 days.

So let’s see, how does this work? Well basically, you loan 1000 DKK or 2000 DKK and then repay the money + a fee of either 300 DKK or 450 DKK respectively.. oh yeah, and you have to do all this within 30 days. So basically you loan 2000 DKK and suddenly you’re 2450 DKK in debt and you have to pay it back within 30 days.. so you go out, have a night on the town, maybe buy a new mobile phone and then you’re pretty much broke again. So this took maybe 1-2 days and now you have under 30 days to earn 2450 DKK (after taxes of course) and repay those fuckers with that money.

To sum up here: You begin your month thinking: “I need money”. You go to folkia.dk and apply for a loan of 2000 DKK. You get your money (which actually assumes a bunch of stuff about your current job situation, e.g. a monthly income of over 10000 DKK) and then you immediately start using the money. A few days later you’ve used the money and now you need to find a way to earn 2450 DKK within 30 days, which in Denmark means around 4600 DKK before taxes for most people. So in all this time, why the hell didn’t it occur to you to just earn the fucking 2450 DKK in the first place and use the money at the end of the month you fucking retarded piece of shit!

Companies like this one seriously makes me sick! They exploit the stupidity of people who are already in financial trouble and generally lead to a more unstable population of people stressed by debt.

I hope people in Denmark will be smart enough to see through all of this and not make stupid mistakes.