Payday Loan App For Iphone very bad idea.

hoyles10

This has got to be one of the worst ideas i've seen regarding massive interest loans. I can see so many people getting into serious debt through this.

A few years ago if I had an application like this one I would have more than likely used it when I was skint and all my mates were going out on a weekend.

http://uk.biz.yahoo.com/15012010/389/avoid-payday-loans-bite.html

bigdave1973

I'd agree that it could get abused by people thinking that because it's fast & easy to do, that it's not a legally binding loan agreement.

I think that Wonga has it's place, yes it's relatively expensive though for people who have adverse credit or want a short-term loan quickly, what other realistic options are there?

Borrowers really need to take responsibility for their actions and not blame high-interest rates for the reason they are in debt. They are in debt because they borrowed money.