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International Business Times UK
International Business Times UK
Niloy Chakrabarti

'You Paid How Much?!': Money Expert Caleb Hammer Stunned After Woman Pays $4,000 on a $500 Loan

Caleb Hammer is the host of the Financial Audit YouTube podcast. (Credit: YouTube)

Finfluencer Caleb Hammer lost his mind while interviewing a woman who took a $500 (£371) loan at an annual percentage rate of an astronomical 792%. The woman now owes a total of $4,000 (£2,975) to the lender.

The woman's disclosure that she had given the lender access to her payroll triggered a full-scale meltdown during the podcast. Hammer was stunned to learn that the woman's wages were being garnished to recover the outstanding loan.

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