Chapotraphouse

This is a uniquely predatory loan though. If you miss just a couple months of payments, the compounding interest alone surpasses the original loan amount. Meaning you're rapidly owing $5-10k/month on a $4k loan.

This is obviously meant to create predatory situations where they can either hustle them for a settlement of $8-10k or sell of that debt to collection agencies in a bundle.

Alternatively, they're structuring it in a way where people are paying the same $400-500/month indefinitely on that loan.

Even the break your ankles sharks of old weren't this bad...