usury laws

[Diamond]

I have received a check from a company that
states if I cash it( $5002.72) I can pay it
for 60 months $152.71 per. at a rate of 26.983% paying $4,159.88 over the life of the
loan. (1)Is there a law to protect the innocent and ederly from such and offer (2)
this is the state of Washington is that legal
to charge that amount of interest?
This seems excrutiatingly wrong to me! How to
complain about this type of business practice?

 

[ALawyer]

Call the Federal Trade Commission, the State Attorney General's office, your congressperson and senator, both state and Federal, and the local consumer hotline on radio, TV and the local papers as a consumer warning! It preys on the gullible, and if it is not illegal it sounds as if it should be.

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