egafd.com

Whilst I agree with what you say they do provide a needed service.
Someone may need ?50 to feed the kids until pay day. If you can't borrow from family this seems an ok solution. Banks aren't interested in lending such small sums. Maybe there should be a bank that specialises in providing services for the low paid?

There is they are called Credit Unions. They need support though to publicise what they do.

Perhaps the government could bung a few quid their way rather than the billions they have used supporting the big banks.

Wonga lend mainly to desperate people usually on benefits. They borrow the money and have to pay back much greater sums because of the exorbitant interest rates. Then the vicious circle begins.

This is just preying on benefit claimants.

Wouldn't it be more logical just to support the credit unions or bring in legislation to cap the interest charges rather than society have to pay for the social damage Wonga and their like are causing?

As for the "piper playing the tune" crap. Do you think Newcastle are going to release the players concerned from their contracts without penalty?

"Maybe there should be a bank that specialises in providing services for the low paid?"

If there was this lot would have privatised it by now! Remember National Girobank?

Oh f@ck off with the holier than thou attitudes - prey on the needy ? yeah they do but doesnt all business prey on the needy - those that need a service and are willing to pay for it ?

The percentage charged is huge but in reality its viewed on as a service charge as most have the loan for a few days till paid. Id have thought that you could see this and appreciate it for what it is, a genuine business that is making money through providing a service.

Its a darn site better than taking a load of the local shark and its regulated and all above board. Id hate to be really stuck in a corner without something like this availiable.

same thing as a pawnbroker and the like..... its been around for ages

David Johnson wrote:

> Agree entirely Argie. They also sponsor Blackpool to their
> shame.
>
> Having a company that charges 1% interest per day on payday
> loans as your sponsor is a humiliation of the club and its
> fans.

Worth a giggle though, as far as the Donkey Lashers are concerned, when you consider that great pillar of society Oyston used to run it !grin!

Via Twop Twips

"Pardew has said his players will be giving 4712% effort in their next match"

"yeah they do but doesnt all business prey on the needy - those that need a service and are willing to pay for it ?"

No.

"The percentage charged is huge"

Correct

"but in reality its viewed on as a service charge as most have the loan for a few days till paid. Id have thought that you could see this and appreciate it for what it is, a genuine business that is making money through providing a service."

Sigh!

Obviously it is providing a service but the amount that Wonga and other payday loans charge should be regulated so that the risk they are taking is still reflected in a far more reasonable APR.

Got it now?

David - I could do you a reduced rate if you wanted - introductory rate ? let me know.....

That's alright, try and sell your 50p onto someone else.

!wink!