Got no collateral? It’s okay we’ll take your soul

Somehow one would think that this story is something out of a medieval story not something you would hear or see in our day and age. However contrary to all common sense it seems that a financial company in Latvia is more than willing to accept your soul as collateral when you sign on the dotted line.

A financial company in Latvia is offering residents loans secured by nothing but their immortal soul.

Riga-based firm, named Kontora, does not require credit history record or proof of employment. It grants loans of 50 to 500 Latvian lats ($100 to $1,000) to any adult after he or she signs the a very short agreement.

According to the agreement, the only security required of the borrower is their immortal soul, which they are asked to confirm as their previously unmortgaged property.

The loan is subject to one percent per day in interest until full repayment.

The period of full repayment is 90 days, and in case the borrower fails to return the money, the creditor gets full possession of his soul.


I almost expect to hear fiddle music in the background when reading this.