Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Rog on 02 October 2014, 12:18:37
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Maybe I should have taken out one of their 4,000% + APR loans . . . . :o
http://www.bbc.co.uk/news/business-29457044
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...you gota pay 2000% back first though.
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They are always in the news for there ripping people off
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...intrest over a week was £30 ish,people very quick to judge without ever trying them. ::)
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...you gota pay 2000% back first though.
Not the case according to sky news reports. A legitimate write off to enable a significant re structuring.
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I prefer my method, never a lender or borrower be , if you can't pay for it with cash don't have it ..I would hate to pay any interest, let alone the ridiculous ones being advertised now.
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I prefer my method, never a lender or borrower be , if you can't pay for it with cash don't have it ..I would hate to pay any interest, let alone the ridiculous ones being advertised now.
I'd love to have the money to buy a house outright and not pay any interest.. but most people aren't like Lord Opti ;)
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That's exactly what I did , moved from SE London via Norfolk to Lincs in 1987/88 made a killing on the property boom & bought the house outright, swore I would never borrow again, all you need is a little luck !!
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That's exactly what I did , moved from SE London via Norfolk to Lincs in 1987/88 made a killing on the property boom & bought the house outright, swore I would never borrow again, all you need is a little luck !!
Hmmm luck and day to day life are two different things.
The wonga knockers....do they knock bank over draft fee's or credit card intrest...?
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That's exactly what I did , moved from SE London via Norfolk to Lincs in 1987/88 made a killing on the property boom & bought the house outright, swore I would never borrow again, all you need is a little luck !!
With a bit of planning and some investment, I would guess most people who have owned a property within the m25 for the last 10 years could do that right now, given the price differences.
Although, I'd also guess that would need to be a carefull lifestyle choice, as there's no coming back from that, given the price differences.
Bit like moving to Spain. Or any other market where the prices are lower. Put all your eggs in the cheaper market, your stuck there. Again, given the price differences.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...intrest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
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That's exactly what I did , moved from SE London via Norfolk to Lincs in 1987/88 made a killing on the property boom & bought the house outright, swore I would never borrow again, all you need is a little luck !!
Hmmm luck and day to day life are two different things.
The wonga knockers....do they knock bank over draft fee's or credit card intrest...?
I very much dislike banks, and the greedy overpaid and under-performing bankers who have bought this country to it's knees.
However...18.9% (which is still way too high when the base rate is 0.5%) is hardly comparable with the 2000% to 5000% charged by loan sharks like Wonga.
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I prefer my method, never a lender or borrower be , if you can't pay for it with cash don't have it ..I would hate to pay any interest, let alone the ridiculous ones being advertised now.
I'd love to have the money to buy a house outright and not pay any interest.. but most people aren't like Lord Opti ;)
I have a landlord and his name is Mr Shylock. Benevolent he is not. ;D
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Bet the other loan sharks are loving it, with the Wonga adverts missing off the telly...
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That's exactly what I did , moved from SE London via Norfolk to Lincs in 1987/88 made a killing on the property boom & bought the house outright, swore I would never borrow again, all you need is a little luck !!
With a bit of planning and some investment, I would guess most people who have owned a property within the m25 for the last 10 years could do that right now, given the price differences.
Although, I'd also guess that would need to be a carefull lifestyle choice, as there's no coming back from that, given the price differences.
Bit like moving to Spain. Or any other market where the prices are lower. Put all your eggs in the cheaper market, your stuck there. Again, given the price differences.
Never had any intention of "coming back" looking back I wish I had gone even further away from London, we both love Yorkshire , maybe when we are fully retired..
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
A reasonable argument imo. However, the financial regulations in place in the uk mean that financial institutions such as Wonga MUST lend responsibly. This means checking people are able to repay, or we end up in another recession prety damn quick, a lesson we should of learned from the bad debt lending that started in the States and spread across most of the globe bringing down the whole house of cards.
Wonga a have failed in this regard. Completely. And clearly, they know it. Roll up roll up, all those with an ombudsman claim against Wonga.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
If I loaned you £50 it would be devoured by your new Omega and I would never see it again. ;)
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Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
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If you were a good friend I'd lend you more than £50 & only expect back what I lent you.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
This, by it's very nature, is the core of Wonga's business.
Generally speaking people who can repay the money they have borrowed don't use Wonga.
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There will always be people ready to borrow, some cannot deal with finances on any scale, we had a reasonable win on the lotto (syndicate) a while back ,10 of us knew who would blow the lot in a short while & we were right , he could not get rid of it fast enough !!
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There will always be people ready to borrow, some cannot deal with finances on any scale, we had a reasonable win on the lotto (syndicate) a while back ,10 of us knew who would blow the lot in a short while & we were right , he could not get rid of it fast enough !!
Don't take long to blow a quid, mate ;D ;D ;D
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
When I took out the first Wonga loan it was simply to cover bills going out until wifey"s money hit her account,matter of a few days but saved the DD bouncing and the fee"s she would have had.
I was surprised just how many questions they asked...name and address of employer,did we have a car and if so Reg etc etc.
So id say they pretty much coverd the intial loan if id have failed to pay back.
Having said all that I will say that yes I can imagine Wonga wringing its hands together in pleasure when people do default as its an open door for charges and huge intrest,but as I said if you use it wisely and only borrow if you know the repayment is coverd you have nothing to fear and the % is literaly pennies per day.
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
A reasonable argument imo. However, the financial regulations in place in the uk mean that financial institutions such as Wonga MUST lend responsibly. This means checking people are able to repay, or we end up in another recession prety damn quick, a lesson we should of learned from the bad debt lending that started in the States and spread across most of the globe bringing down the whole house of cards.
Wonga a have failed in this regard. Completely. And clearly, they know it. Roll up roll up, all those with an ombudsman claim against Wonga.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
As would a credit card............ ;) ;)
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
As would a credit card............ ;) ;)
Yep.
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Have any of you used them...i do and tell ya there ok.
Borrowed £400 as cash was tied up in bank book account...interest over a week was £30 ish,people very quick to judge without ever trying them. ::)
True...but not if bankrupt,even if it was 4yrs ago, :)
The trouble is most people can't pay back the money quickly which is why they needed to borrow it in the first instance.
Parasites such as Wonga are well aware of this and most people end up paying huge amounts of interest without paying anything off the 'small' original loan.
Credit unions are a far better way for people on a low income to borrow money. :y
Yeah fully agree..but then why knock the people who will lend,its the morons who borrow and can't pay back that should be knocked.
I find them an advantage to have...and to be honest if i've got a direct debit coming out and its going to fail as im not paid until day after etc,borrow £50 for a couple of days and total payable is roughly £52.
Seriously would you lend me £50 for a couple of days and only ask for £2 back.... :o
If they are used to your advantage they work very nicely...so really as said its the idiots who borrow without funds to pay back that should the slated.
As would a credit card............ ;) ;)