Would You Take a Payday Loan from Octomom?

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Nadya Suleman

Since she spawned her way onto the public stage in 2009, "Octomom" Nadya Suleman has worn a lot of hats -- among other things, she's become the poster child for in-vitro fertilization, a relentless self-promoter, a high-profile stripper, reality TV star, and America's preeminent expert Nadya Sulemanin diaper changing. Now, she wants to establish herself as America's most fecund financial adviser as a shill for OctoLoan, a payday loan company.

On the surface, Suleman would appear to be the worst possible source for financial advice: Since delivering her octuplets, she has been on and off public assistance, and her desperate search for a long-term solution to her money problems has played out on the stages of talk shows, and, more recently, strip clubs.

Then again, Octomom's forthright admission of her financial problems, combined with her very public search for steady employment, puts her in a position that's surely familiar to many struggling middle class families. OctoLoan highlights this connection, noting that:

If anyone knows financial hardship Nadya does. This is why she has decided to endorse our service OctoLoan which connects you directly to a lender when you need money quickly.

And therein lies the rub: Octomom's terrible financial choices, which have driven her to sign an endorsement deal with OctoLoan, are the very thing that she's suggesting should give her the credibility to encourage other struggling people to make their own bad financial decisions. Payday loans, after all, are among the worst moves that a borrower can make. According to some studies, the average effective interest rate of a payday loan is 455%, and OctoLoan itself states that a "representative annual percentage rate (APR)" on a 14-day, $100 loan would be 651.79%.

Given the complex web of laws regulating loans, it isn't surprising that OctoLoan is quick to establish its legal bona fides. As the site notes, it is not "a lender nor broker, agent or representative to lenders ... This website provides a service wherein we collect the information you provide to use and provide it to an independent network of companies including lenders who will pre qualify you for a loan."

In other words, OctoLoan is basically a portal that collects information and passes it along to payday lenders, which then write loans. In fact, the site isn't associated with a financial institution at all -- it's owned by Leadz.co LLC, a marketing company "specializing in providing high-volume leads to financial institutions nationwide."

Despite its claims to be the "most notable and respected global performance based online marketing organization in the internet industry," Leadz actually seems to be a bit flimsy: The company's site doesn't offer an e-mail or physical address; as for OctoLoan, its physical address is a mailbox located in a UPS Store in Newark, Del.

Neither OctoLoan nor Leadz.co immediately responded to emailed requests for interviews.

To her credit, Suleman's endorsement isn't especially effusive. Her simpering visage appears on the site's main page, alongside the tepid statement that "OctoLoan is a trusted source that connects you to cash lenders nationwide when you need a short term loan fast."

Then again, for Octomom, at least, the site's motto, "When you're financially alone - Octoloan," may both offer a promise of much-needed income ... and a better understanding of why she has sold out to get it.

Octomom Nadya Suleman Endorses OctoLoan

Bruce Watson is a senior features writer for DailyFinance. You can reach him by e-mail at bruce.watson@teamaol.com, or follow him on Twitter at @bruce1971.

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624200361

I'm kind of worried about the future of this country from reading the comments here. There are a lot of bad parents in the world... they are the ones who smoke crack, leave their infants to go buy a forty, drink and drive with children in the car, beat them, or many far worse things. Yet, we're sitting here begging our government to come in and take her children away, who she is actually providing for, because we disagree morally with the life choices that got her into that situation?

Do we really want to entrust our government with the kind of authority to just snatch people's children away because people with nothing better to do are gawking at them instead of paying attention to their own kids?

Please consider the implications of what you're saying when you suggest your government should take this woman's kids away.

September 13 2012 at 1:17 AM Report abuse rate up rate down Reply
luvhairymen2

Octoloans? Really? Why would anyone want to get a loan, or help out this moronic stupid bitch who should actually be criminally held in a mental institution for what she has done. Why don't you seek money from the irresponsible doctor you talked into pumping you full of fertile eggs! You need to be sterilized before giving you a padded room! You failed as a responsible person, you failed at acting, you failed as a porn star, so do the right thing, and put those kids up for adoption so they will have half a chance in life you scumbag!

August 15 2012 at 6:36 PM Report abuse +1 rate up rate down Reply
AL CONFER

It's why I have absolutely NO faith in Children and Youth Services. She ought to have those children taken away as she is totally unfit to raise anything, except maybe hell. Just one more reason why government services ought to be shut down as they sure as hell don't do their jobs. We pay taxes to support the likes of CYS and why? Goes to show you that you can be a slut, on drugs, do porno and not one agency has steped in and taken those children away.

July 22 2012 at 5:27 PM Report abuse +1 rate up rate down Reply
JOSEPH

I would not even take a BJ from this ugly woman.

July 20 2012 at 8:19 AM Report abuse +2 rate up rate down Reply
wayne8734

Hell no I wouldn't take a loan out at any place that has her name or uses her likeness.She's a sorry mother that makes me sick every time I see it.

July 19 2012 at 11:50 PM Report abuse +5 rate up rate down Reply
Marcia

Oh pleez.....saw this dame on this commercial and it made me sick.

Will she pleez go away?

July 19 2012 at 11:40 PM Report abuse +5 rate up rate down Reply
mattgarodan

Would I take a payday loan from Octomom? No. Hell no.

July 19 2012 at 11:34 PM Report abuse +4 rate up rate down Reply
ragtopdaz

I would still like to know why that quack of a doctor who filled up that belly with eggs is still not serving time in prison..
I know if I were the judge on his case, My sentence for him would be to live with this nut case so he can feed and change all of those diapers. He is mostly responsible for brining all of them into this world as well as sticking it to the tax payers..

July 19 2012 at 10:17 PM Report abuse +2 rate up rate down Reply
ragtopdaz

I'm sure her mother and father are so proud of what their little girl has grown in to..

July 19 2012 at 10:01 PM Report abuse rate up rate down Reply
ragtopdaz

This is one of the places all of the money Obama care will steal from tax payers will go..
More crack babies that when grown will continue to fill our prisons and continue the cycle..

Woman Gives Birth High on Cocaine
Updated: Tuesday, 24 Jan 2012, 2:46 PM CST
Published : Tuesday, 24 Jan 2012, 2:46 PM CST

Memphis, Tn - Ora Boler was arrested Monday on Reckless Endangerment charges, and was in court Tuesday morning.

Police say during the birth of her baby girl back in November, she was high on cocaine.

Her newborn also tested positive for cocaine.

Police say Boler is a known crack user, is homeless, and this is the fourth baby she's had of six that has tested positive for cocaine.

July 19 2012 at 9:42 PM Report abuse +2 rate up rate down Reply