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[Stuart30]

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.   

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....

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.

[chrisgixer]

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.   

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....

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.

[Field Marshal Dr. Opti]

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.   

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....

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.

[Andy B]

....
Seriously would you lend me £50 for a couple of days and only ask for £2 back....
....

If you were a good friend I'd lend you more than £50 & only expect back what I lent you.

[Field Marshal Dr. Opti]

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.   

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....

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.

[2boxerdogs]

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 !!

[Terbs]

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 

[Stuart30]

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.   

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....

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.

[Vamps]

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.   

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....

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............

[Field Marshal Dr. Opti]

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.   

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....

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.

[Stuart30]

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.   

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....

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............