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[Rog]

Maybe I should have taken out one of their 4,000% + APR loans . . . . 

http://www.bbc.co.uk/news/business-29457044

[chrisgixer]

...you gota pay 2000% back first though.

[Steve B]

They are always in the news for there ripping people off

[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...intrest over a week was £30 ish,people very quick to judge without ever trying them.

[chrisgixer]

...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.

[2boxerdogs]

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.

[aaronjb]

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

[2boxerdogs]

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 !!

[Stuart30]

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...?

[chrisgixer]

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.

[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...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.   

[Field Marshal Dr. Opti]

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.

[Field Marshal Dr. Opti]

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.

[Jusme]

Bet the other loan sharks are loving it, with the Wonga adverts missing off the telly...

[2boxerdogs]

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..