59% Interest WTF??

According to national newspaper of note the Knoxville News Sentinel, a Tennessee couple was charged an astounding 59% interest on a $5000 loan. And you thought your mortgage was bad. They're claiming that this was a predatory loan, and that they were never actually informed of the terms and interest charged.Here's the really incredible gem FTA:

Brown says the company never sent paperwork explaining the terms of the loan. "I ain't got no knowledge of spelling and writing, but the Lord gave me a good memory," Brown says. "And I know they never said anything about 59 percent interest."

Oh, Tennessee.

(via the Knoxville News Sentinel via Consumerist)