I actually have some experience with doing predatory lending. I was one of the first to lend on the peer to peer lending site Prosper.com. Lost my shirt on all the deadbats.
I also did some database work for a short time for a payday lending business. I don’t know who was more crooked, the lenders or the borrowers.
In short, that 28% is there for a reason.
Worked for Ameriquest.
A friend of mine stepped on a deadbat, and had to have a rabies shot.