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Ethics are not just for Sundays
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All under "My account" which you have to set up and fill in to take out the loan...
There are a number of things to consider before taking a loan with usOur loans are intended for occasional use only
You shouldn’t use our service to manage existing debt or if you’re already feeling the strain financially
Our loans must be repaid within weeks
Our service isn’t designed for long term borrowing and isn’t always the cheapest option
Pretty straightforward and simple, even I can understand it
so after they got hauled over the coals they put all the right words onto the website.....but still then let people take multiple loans out until their debts are out of control.
Still let ? You mean allow people to make fools of themselves ?
no one is forcing people to take out a Wonga loan......
I've taken out a pay day loan from Wonga, about 3 years ago, to get me out of a very tight financial situation I was in at the time.
The information which Dave describes in his posts above [the amount the loan will increase by if you don't re-pay when it's due, and all the blurb about what you should consider before taking out the loan] was all available on their website even then... it's not anything they've added recently.
I was under no illusion that it was a very expensive way of borrowing money, and the website made it very clear that the amount owed would increase exponentially if the loan period was extended for more than a month.
but there are vunerable people out there who are not as intelligent or wise as you
Seren, we can't legislate for vulnerable people. Thats what family / friends / carers / support workers etc are for.
If we legisated for vulnerable people then quite simply there would be no such thing as loans at all, we would all survive without credit cards and almost nobody would own a house.
That would leave us with cash and cheques. What's to stop someone from getting in debt by writing cheques that can't be cashed and running up fees on their bank account.
If you are worried about people getting loans on their mobiles then maybe we should stop people from having mobiles.
So what solution do you propose?
bring back the 11 plus anyone who fails is castrated or sterilised... Get rid of stupid people
there is no way that any loan of £250 should be allowed to grow into £10,000.......however much they explain the rules.......I just think that it is totally wrong if someone is struggling to pay back the original £250 that the company continues until they owe £10,000
You know if you can pay back 275 quid in 10 days or not..... So why didn't she pay it back in 4 weeks or 6 weeks ?
maybe she was owed money .and the person promised it but they then just buggerred off........
maybe her husband just left her and the kids in the lurch.........maybe she lost her job.......
maybe she was just stupid and fooling herself...either way......how on earth can they let it grow into £10,000
She borrowed 275 quid for 10 days...... No one else's fault but hers if she still hasn't paid it back after 365
All valid reasons for being in debt but why didn't she take out an overdraft or bank loan like most other people would do in that situation.
Or buy it on HP from a shop ?
Councils and charities can provide renovated white gods for people in need - she could have explored that avenue too.
If she couldn't come up with £275 within the foreseeable future I'm pretty sure she would have qualified.
Or freecycle.
You're assuming she had the mentality to think things through.
With those who act on impulse; as many do, the implications and consequences of their actions are of no consideration.
Washing machine broke. Want a washing machine. No money. Get money. get washing machine. Done!
🙂
And she gets to face the consequences at a later date....
dos the majority of the population have to suffer because of the stupidity of a few ?
The trouble is that the more you mollycoddle those people, the less responsibility they take for their own actions and before you know it they can't even flush the toilet unless the council comes round and does it for them.
Ah, But who takes them to the toilet ?
You can't save many people from themselves. Give em enough rope and all that.
Near to where I live is another runner who's line towards me is, "Its ok for you, you're a full time runner, some of us have to work for a living".
Ok. Its like this. I bought a maissonette. He bought the biggest house he could get hold of. I got rid of the mortgage. He kept re-mortgaging to give himself extra spending money. (He's entitled to a certain life-style, yea right!)
So whose fault is it that he now has a £300,000 mortgage and is on a short term contract. After all, he's always earned more than double anything I ever have.
He's very typical.
🙂
You would have hoped that "stupids" would start to die out... Suppose it's the government's fault for persisting with the nanny state and covering the world with child proof caps and foam rubber
Stupidity is the biggest threat to mankind. Take the warning labels off things and the problem will solve itself.
I wouldn't go so far, as to do the opposite of what eveyone else appears to be doing all the time. 'Going with the flow' now and again, does at least establish some common ground.
However, if anyone assumes that 'the majority' must always be right then that's another matter. The majority might get its way most of the time. Whether or not 'that way' is the 'best way' is questionable.
🙂
So, hands up all those that would support a eugenics programme in the UK.
I suggested a couple of days back, bringing back they 11 plus and if you failed you would be castrated or sterilised.
there are a hell of a lot of idiots that can pass the 11 plus .and a whole lot more that could get tutured to pass it.........
most of the idiots on here have had a high level of education
It would be start