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Casa de empeņo

One thing you'll find ALL over Mexico, and in huge number are Casas de empeņo (pawn shops). Many Mexicans need to sell or at least pawn what they have to wait for the next income. It's the first one I see clearly indicating its rate: 2.5% per week. So, if you borrow $100, at the end of the year you owe $361.11. That's 261.11% of interests annually. In Canada, anything above 60% is considered illegal.

HoboSylvain, 2014-03-20 18:01:15


Tulum
Quintana Roo
Mexico


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