No smilies, no avatars, no flashing gifs. Just discuss the issues of the day, from last night's telly via football to science or philosophy.
Started by Gotout on Aug 26, 2018 7:47:27 PM
Is Wonga running out of money?
Previous
|
Next
|
Top
|
Bottom
Gotout - 26 Aug 2018 19:47:46 (#1 of 95)

Oh dear, how sad, never mind.

frantastic - 26 Aug 2018 20:18:36 (#2 of 95)

They could get a loan from quickquid to tide them over.

TrouserFreak - 26 Aug 2018 20:19:45 (#3 of 95)

Or an amigo loan if they've got any gullible mates.

Tagyourit - 26 Aug 2018 20:21:16 (#4 of 95)

They could get a loan from quickquid to tide them over.

I fucking hate the Quickquid adverts, the people seem to have the superpower of being to act outside time but they still need to borrow money from crooks. Grrrr!

bossab2 - 26 Aug 2018 20:37:57 (#5 of 95)

I'm sure HMGov will print them some more money.

Verdigris - 26 Aug 2018 20:39:58 (#6 of 95)

Would you say no if they printed some money for you?

uranrising - 26 Aug 2018 22:26:33 (#7 of 95)

From https://www.bbc.co.uk/news/business-29457044

Pay day lenders first appeared in the US, but are only legal in 27 states and interest rates are generally limited to 40%. They began appearing in the UK 20 years ago, and there are currently no limits on their charges here - although the government wants to bring in a cap next year.

Wonga itself is only seven years old but has become the best known thanks in part to its catchy advertising.

All pay day lenders normally lend to those not welcome elsewhere, because their poor credit rating or low income means mainstream lenders see them as unlikely to repay any loan.

Since the downturn their business has expanded rapidly, leading to criticism they are making millions lending to the desperate. Some say they are little more than legalised loan sharks, but supporters say if they did not exist, hard-pressed people would have to borrow from real loan sharks.



So if you don't want to go to a real loan shark, use a real loan shark. Fair enough.

bossab2 - 26 Aug 2018 23:06:48 (#8 of 95)

Although without wonga they will now either starve or end up robbing banks

uranrising - 26 Aug 2018 23:27:32 (#9 of 95)

We're supposed to have a rich society with lots of safety nets so that nobody has to starve.

Maybe it would help if more people learnt about doing without until they can afford it, then proceed on that basis. And everyone cop the consequences of the fact that more people are actually poorer than we like to pretend.

Maybe.

fogger - 26 Aug 2018 23:31:24 (#10 of 95)

doing without until they can afford it

Life's not like that though. I just had to borrow money to fix a car. I can't do without a car.

bossab2 - 26 Aug 2018 23:37:05 (#11 of 95)

Only the poor people need to learn how to 'do without'

Jacob_Richter - 27 Aug 2018 14:40:04 (#12 of 95)

Is this the end of this payday loan company?

Fuck off and die you fuckers.

Gotout - 27 Aug 2018 15:14:03 (#13 of 95)

The pity is that the money they have ripped off poor people can't be returned. Instead these parasites will retire as millionaires.

indlovubill - 27 Aug 2018 15:23:31 (#14 of 95)

And everyone cop the consequences of the fact that more people are actually poorer than we like to pretend.



Half the population have no cash reserves and if the central heating boiler is on the blink or the car breaks down they have few options.

mememe - 27 Aug 2018 15:31:32 (#15 of 95)

There is definitely a demand and a place for short-term lending. Pawnbrokers are very much a thing, after all. The notion of payday loans isn't evil in itself.

Dayraven - 27 Aug 2018 15:31:44 (#16 of 95)

The pity is that the money they have ripped off poor people can't be returned.

You might be pleased to hear that one of the factors in Eonga's trouble is a vastly increased number of compensation claims against them.

mememe - 27 Aug 2018 15:33:36 (#17 of 95)

You don't get to make compensation claims when Big Vern's boys do your kneecaps.

Gotout - 27 Aug 2018 15:36:06 (#18 of 95)

You might be pleased to hear that one of the factors in Eonga's trouble is a vastly increased number of compensation claims against them.

Yes but the bosses won't be liable personally. The firm may well fold but their millions will be safe.

FleurDuMal - 27 Aug 2018 17:03:28 (#19 of 95)

The notion of payday loans isn't evil in itself.

The interest rates some of them charge are though.

mememe - 27 Aug 2018 17:42:03 (#20 of 95)

Yes.

Previous
|
Next
|
Top
|
Bottom
Check Subscriptions
|
Home » Money