Wonga

23 posts Page 2 of 2
Post Reply
 
 

Niobe

User avatar
Posts: 5169
Joined: Tue Jul 03, 2012 9:56 am
Location:
Post by Niobe » Thu Jun 28, 2012 8:26 am
Quote
Not been into Birmingham for a while but I'm afraid if they approached me the second word would be 'off'!!!
Top
 
 

Shining

User avatar
Posts: 27019
Joined: Thu Sep 20, 2007 8:57 am
Location:
Post by Shining » Thu Jun 28, 2012 9:21 am
Quote
I agree there is a place in the market for them but often people in debt grab at chances as there is always going to be something around the corner that doesn't materialise then one loan turns into two etc., snowball effect.
IVA final payment left the bank on the 26th January 2013...looking forward to a debt free future.
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Thu Jun 28, 2012 10:36 am
Quote
They are no better or worse than say vanquis who plenty of posters are happy to recommend. Interest rates are clear as can be and unfortunately desperate people do desperate things.

What they shouldnt be allowed to do is move one loan to another to another etc etc,creating the snowball that Lesley mentioned.

They do serve a purpose as a short term lender,many banks are to blame for this as they wont offer such a short term service for customers.

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
 
 

Skippy

User avatar
Posts: 20706
Joined: Sat Oct 21, 2006 6:08 pm
Location: United Kingdom
Post by Skippy » Thu Jun 28, 2012 10:47 am
Quote
I agree with PD, there is a place for them as the banks don't offer short term lending. They display their interests clearly and people have a choice about whether to use them, although I completely agree that people will do desperate things.

Regarding Vanquis's interest rates, I have an APR of 34.9 which is only 4% higher than my Mum's Barclaycard!
Top
 
 

moneyisthedevil

User avatar
Posts: 59
Joined: Fri Jun 22, 2012 1:25 pm
Location: United Kingdom
Post by moneyisthedevil » Thu Jun 28, 2012 4:43 pm
Quote
I find it all really upsetting. I hate money.

Lets petition to get everyones debt in England COMPLETLY written off so that we can all start again, debt free!!!!!! WISHFUL THINKING OR WHAT?????
"Everyone is a genius, but if you judge a fish by its ability to climb trees it'll go its whole life thinking it's stupid" Einstein x
Top
 
 

StupidAgain

User avatar
Posts: 80
Joined: Wed Jun 20, 2012 8:05 pm
Location: United Kingdom
Post by StupidAgain » Thu Jun 28, 2012 11:17 pm
Quote
I agree Money lets do it xxxx
The journey has officially begun
Top
 
 

Broke of London

User avatar
Posts: 7761
Joined: Sun Sep 05, 2010 6:04 pm
Location: United Kingdom
Post by Broke of London » Fri Jun 29, 2012 12:44 am
Quote
I went OD by 41p and got charged £10 for the one day I was overdrawn. Anyone fancy working out the interest rate on that?? I bet my bank could give payday lenders a run for their money!
Top
 
 

plasticdaft

User avatar
Forum Expert
Posts: 9562
Joined: Wed May 21, 2008 12:45 pm
Location: United Kingdom
Post by plasticdaft » Fri Jun 29, 2012 5:37 am
Quote
Thats the problem,the way interest rates are calculated and advertised can be misleading,at least with the payday lenders rules have been tightened up to make things clearer. They still lend to people they know wont be able to pay back but then lloydstsb carried on lending us money hand over fist so they really are no different!!!

Paul
Discharged today the 8th feb 2012. View is much brighter now.
Continuing to rebuild our credit worthiness.
Top
Post Reply
23 posts Page 2 of 2
Return to “friends corner”