Wonga
Comments
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Sorry you have taken offence. Of course borrowers have to take responsibility, but so does the lender. There is a difference between responsibility under a fair regulated financial contract and responsibility under an effectively unregulated contract with a loan shark.Rizzo said:
So someone who borrows money they know they can never repay, in full knowledge of the interest rates and penalties, is entirely blameless? Utter bullshit!Dippenhall said:Wonga is 100% the culprit
Wonga is legitimising loan sharking with interests rates as the threat. Many probably knew they couldn't repay unless something turned up, but perhaps they thought, hey if Wonga don't care if I can't repay why should I, they can't beat me up and interest rates don't frighten me.
What does it say about Wonga if, as you suggest, all the people in default knew they were taking out loans they could't repay, but Wonga didn't know. Instead of quoting interest rates Wonga should just have said if you don't repay on time we will destroy you.
They provided straws for people to clutch at knowing that many would sink and now they have to provide the lifeboat, they are 100% responsible for the problem which is what I was really saying.
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Threads like this are always interesting because it comes down to the company v consumer debate. Much like the drug user v drug dealer debate. What's the solution? The OP clearly thinks that it is to get rid of these companies. Yet the companies wouldn't exist if there weren't morons stupid enough to use them. They don't even try to cover up the ludicrous interest rates you will incur - it's clearly printed on the adverts. Avoid like the plague. And me saying that shouldn't even be a revelation, it should be common knowledge. Even apart from huge interest rates and risk of spiralling debt, any loan from these companies will look dreadful on a credit rating.0
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Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
These filth money lending cnuts prey on them tell them it's easy it's affordable, they offer them an easy option, when they can see no alternative
Then the bstds grab them and fuck them till they have no where else to go and are sore and raw
The compassion missing in some posts is horrid
There for the grace of God go you and I10 -
No. I have not said that they should be banned, merely that they should be controlled better. By all means keep them in place, but (1) set maximum interest rates and fees that they can charge and (2) prevent them from making profit when customers can't repay.JaShea99 said:Threads like this are always interesting because it comes down to the company v consumer debate. Much like the drug user v drug dealer debate. What's the solution? The OP clearly thinks that it is to get rid of these companies. Yet the companies wouldn't exist if there weren't morons stupid enough to use them. They don't even try to cover up the ludicrous interest rates you will incur - it's clearly printed on the adverts. Avoid like the plague. And me saying that shouldn't even be a revelation, it should be common knowledge. Even apart from huge interest rates and risk of spiralling debt, any loan from these companies will look dreadful on a credit rating.
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Think it's impossible to generalise. For every genuine hard up low income family looking for a chance to pay for the foodbill a week before payday, they'll be some silly 20-something who wants it for a night out.
Should be better regulated and I'm sure will be.
Just find it genuinely sad when thinking about those in a genuine tight fix who don't have any family or friends to turn to, or who are too proud to ask0 -
No ok you didn't say "get rid of", but the point is you think the company is the problem, whereas I think it is the individual. Not saying either is right though.Chizz said:
No. I have not said that they should be banned, merely that they should be controlled better. By all means keep them in place, but (1) set maximum interest rates and fees that they can charge and (2) prevent them from making profit when customers can't repay.JaShea99 said:Threads like this are always interesting because it comes down to the company v consumer debate. Much like the drug user v drug dealer debate. What's the solution? The OP clearly thinks that it is to get rid of these companies. Yet the companies wouldn't exist if there weren't morons stupid enough to use them. They don't even try to cover up the ludicrous interest rates you will incur - it's clearly printed on the adverts. Avoid like the plague. And me saying that shouldn't even be a revelation, it should be common knowledge. Even apart from huge interest rates and risk of spiralling debt, any loan from these companies will look dreadful on a credit rating.
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Smudge I reckon it's more for every 100 hard up poor sod there's 1 who wants it for beer and gear
Your right it's a sad place where there's no one or no where else to turn0 -
And someone in those circumstances pays back the money they borrow how?nth london addick said:Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
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About a year ago I worked with a young lady who was present at Albion London; the agency who dreamt up those ridiculous puppets. I was surprised (and impressed) to hear that plenty of staff refused to work on the Wonga project on moral grounds - and the agency decided against disciplining them.
She actually recommended me for a development job there, but I was eager to break away from agency work - potentially dealing with Wonga also left me less than excited..
You're setting yourself up for an almighty fall.JaShea99 said:
I've sat in (and spoken to) mental health support groups, where people have lost some very respectable jobs - to find themselves without a penny and without a hope; even without a home. Are they morons?
What about someone that gets divorced and ends up massively in debt, losing their house and left desperately trying to make ends meet? Are they a moron?
The young woman with a child and no partner, struggling to make ends meet to get food and so on? What happens when that unexpected bill crops up, or the oven needs repairing? Is she a moron for not having a crystal ball to foresee that?
Could you cope with those situations, or is it merely luck you've never found yourself in one of them?
The mere fact we live in a society which now needs food-banks should suggest just how many desperate people their are in the UK.
I echo @Stig's sentiments and hope you never find yourself that desperate, but I do think you need to get out a bit more and see what life actually is for some people. Perhaps then you'll realise just what a "moron" is.. it's closer to home than you expect.
I suggest you read something like this - Child Poverty Action Group - Who lives in poverty? - before you go jumping to conclusions in the future.
I'm fortunate enough to be early twenties and in a job that pays more than I realistically need, allowing me to save more money than some people have to live on, and I also get free private healthcare. That is luck, nothing more and nothing less, yes hard work has been involved but I've been lucky to get a few chances. Despite that, I know tides change - and it just takes one bout of illness to rip that away from me; one unforeseen situation to blindside me one morning.. and it's gone. Savings don't last for ever, and that's given the fact I'm privileged enough to have them... for some, they don't even have the ability to fall from such a decent position.
I'm not saying every borrower falls in to circumstances like the above, there will be some who are just greedy, unable to budget and are essentially using Wonga's money to have a night out... these are, in my opinion, morons. To tarnish everyone who has turned to Wonga with the same brush is equally silly though.5 -
Like X 100nth london addick said:Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
These filth money lending cnuts prey on them tell them it's easy it's affordable, they offer them an easy option, when they can see no alternative
Then the bstds grab them and fuck them till they have no where else to go and are sore and raw
The compassion missing in some posts is horrid
There for the grace of God go you and I0 -
Poverty is the result of stupidity. it's so clear now. Goodbye hunger!JaShea99 said:1 -
They normally don't know and by then are so desperate they will buy time, that's all they are buying time to breath a day longerRizzo said:
And someone in those circumstances pays back the money they borrow how?nth london addick said:Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
They are not acting or thinking rationally by the time they use wonga and the scummy fuckas know that0 -
So instead of borrowing from wonga they can go out and mug someone and steal money they need.
Makes sense to me.-1 -
I'm not saying I'm somehow immune from ever losing my job, just that there is a contingency plan in place for that meaning I'd never resort to anything like Wonga.LuckyReds said:About a year ago I worked with a young lady who was present at Albion London; the agency who dreamt up those ridiculous puppets. I was surprised (and impressed) to hear that plenty of staff refused to work on the Wonga project on moral grounds - and the agency decided against disciplining them.
She actually recommended me for a development job there, but I was eager to break away from agency work - potentially dealing with Wonga also left me less than excited..
You're setting yourself up for an almighty fall.JaShea99 said:
I've sat in (and spoken to) mental health support groups, where people have lost some very respectable jobs - to find themselves without a penny and without a hope; even without a home. Are they morons?
What about someone that gets divorced and ends up massively in debt, losing their house and left desperately trying to make ends meet? Are they a moron?
The young woman with a child and no partner, struggling to make ends meet to get food and so on? What happens when that unexpected bill crops up, or the oven needs repairing? Is she a moron for not having a crystal ball to foresee that?
Could you cope with those situations, or is it merely luck you've never found yourself in one of them?
The mere fact we live in a society which now needs food-banks should suggest just how many desperate people their are in the UK.
I echo @Stig's sentiments and hope you never find yourself that desperate, but I do think you need to get out a bit more and see what life actually is for some people. Perhaps then you'll realise just what a "moron" is.. it's closer to home than you expect.
I suggest you read something like this - Child Poverty Action Group - Who lives in poverty? - before you go jumping to conclusions in the future.
I'm fortunate enough to be early twenties and in a job that pays more than I realistically need, allowing me to save more money than some people have to live on, and I also get free private healthcare. That is luck, nothing more and nothing less, yes hard work has been involved but I've been lucky to get a few chances. Despite that, I know tides change - and it just takes one bout of illness to rip that away from me; one unforeseen situation to blindside me one morning.. and it's gone. Savings don't last for ever, and that's given the fact I'm privileged enough to have them... for some, they don't even have the ability to fall from such a decent position.
I'm not saying every borrower falls in to circumstances like the above, there will be some who are just greedy, unable to budget and are essentially using Wonga's money to have a night out... these are, in my opinion, morons. To tarnish everyone who has turned to Wonga with the same brush is equally silly though.
You're not a moron for any of the change in circumstances that you mention, only if you don't have a plan b. After all what did these people do before the existence of these companies? Can't you see that by operating, they give people an 'easy' way out, that if it wasn't there would mean people would have to make smarter decisions in the first place?
I'm not going to feel guilty about being organised and thinking carefully about my life before rushing into things, thus minimising the risk of ever resorting to a payday loan company.0 -
We've spoke about this before and it didn't end well.
Some people like to see everything so black and white they seek no attempt to try and understand the position some people find themselves in and the drastic measures they will take.
It's easier to just call them a moron.1 -
You make some good points and I'm not disagreeing with you. But, one of these firms, Wonga ran the advert in a cafe with the bloke checking his smart 'phone for a loan and being asked by the puppet granny to kiss his 'phone's screen...nth london addick said:Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
These filth money lending cnuts prey on them tell them it's easy it's affordable, they offer them an easy option, when they can see no alternative
Then the bstds grab them and fuck them till they have no where else to go and are sore and raw
The compassion missing in some posts is horrid
There for the grace of God go you and I
Now, whatever the actual profile of Wonga's borrowers, that gives you a clue as to who their target punters were. Young men, who drink/eat out who own a smart 'phone and can download Wonga's app.
As for the desperate, and indeed anyone else who wants a small, short-term loan, I have only two words: Credit Unions.
findyourcreditunion.co.uk/home0 -
The target market may well be those that you describe, and if they only loaned to those who could afford it wonga wouldn't exist
It's a parasite on society that needs to be controlled, all of them do, they are like log book loans etc just wrong
There needs to be an alternative solution to assisting those who hit the bottom on getting themselves right
If I ever make enough money or win the lottery it's one area I will be looking to try and give something back
The man who invented big issue, John something said hand up not hand out
There's enough rich people to invest in one or two on their arse in a way that will help.them regain their worth
Debt and financial strain is a killer of families both in the reality of the word and in the mess it can leave behind3 -
I shall now post like NLA.
If I use double line spacing it will mean more people read my post as it is more important than anyone else's.
Or at least that's what I think will happen.
Or maybe it's just an inability to form paragraphs.
Either way it takes up a lot of space and that's what we all want.0 - Sponsored links:
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Corrected for you.cafcfan said:
You make some good points and I'm not disagreeing with you. But, one of these firms, Wonga ran the advert in a cafe with the bloke checking his smart 'phone for a loan and being asked by the puppet granny to kiss his 'phone's screen...nth london addick said:Someone who has a mortgage, kids,
a low paid job and their financial situation changed without any hint of a problem happening,
find themselves in a situation where to get to work in their low paid job and bring home barely enough money to survive need to get the ticket or fuel to get there or the insurance, tax, mot
These filth money lending cnuts prey on them tell them it's easy it's affordable, they offer them an easy option, when they can see no alternative
Then the bstds grab them and fuck them till they have no where else to go and are sore and raw
The compassion missing in some posts is horrid
There for the grace of God go you and I
Now, whatever the actual profile of Wonga's borrowers, that gives you a clue as to who their target punters were.Young men, who drink/eat out who own a smart 'phone and can download Wonga's app.Wayne Rooney
As for the desperate, and indeed anyone else who wants a small, short-term loan, I have only two words: Credit Unions.
findyourcreditunion.co.uk/home
Being serious good point re Credit Unions. they are essentially ethical in approach.2 -
Chizz - you do know that flags are for reporting abuse, and not for highlighting posts you don't agree with?3
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Or perhaps it's just easier on the eye and therefore easier to read.colthe3rd said:I shall now post like NLA.
If I use double line spacing it will mean more people read my post as it is more important than anyone else's.
Or at least that's what I think will happen.
Or maybe it's just an inability to form paragraphs.
Either way it takes up a lot of space and that's what we all want.0 -
Yeah.LenGlover said:
Or perhaps it's just easier on the eye and therefore easier to read.colthe3rd said:I shall now post like NLA.
If I use double line spacing it will mean more people read my post as it is more important than anyone else's.
Or at least that's what I think will happen.
Or maybe it's just an inability to form paragraphs.
Either way it takes up a lot of space and that's what we all want.
Possibly.1 -
Regulation of these types of businesses is sadly likely to get looser rather than tighter in years to come with the demise of the OFT and cuts to local authority regulatory services.AFKABartram said:Think it's impossible to generalise. For every genuine hard up low income family looking for a chance to pay for the foodbill a week before payday, they'll be some silly 20-something who wants it for a night out.
Should be better regulated and I'm sure will be.
Just find it genuinely sad when thinking about those in a genuine tight fix who don't have any family or friends to turn to, or who are too proud to ask
Just as important was the educational work that the OFT used to do around credit which is not getting done by anyone on the same scale and is likely to lead to users of these companies being even less informed than they are even now.
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Good.4
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Where will all the gamblers get their play cash from now?0
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I’ll lend them a tenner*
*at 8,890,356% interest of course0
