Pay day loans should be banned !!!

BugsyBrowne

barbarawright wrote: »

Or, and this is quite true, HP companies would hire private detectives to assess whether clients would be able to keep up the payments on a new fridge.

Strange person.

ILW

ciscokid wrote: »

Betting the football is serious gambling.

It is if you cannot afford to lose.

barbarawright

star-fire wrote: »

Strange person.

Why strange? I'm pointing out the sort of problems people used to have getting credit. People might want to remember that when they curse how easy it is to borrow money. Hire purchase companies in the 1950s and 1960s would often spend weeks researching potential clients and detectives were just one of the methods used.

ciscokid

iolanthe07 wrote: »

When I bought a car on credit back in the 70's I had to put a third down and pay the rest back over 24 months. This was common and a good idea because it prevented people from taking on too much debt. If this regime was re-introduced we wouldn't see all the sad posts here and on the debtfeewanabee and bankcruptcy boards.

Be careful now, you are in danger of implying that it is the ease of which credit is now readily available that is to blame! And we all know how much that notion is considered ludicrous around here!! (despite the fact you have now proved exactly why this problem simply didn't exist before!!!!!)

Americans will never believe that their home should be without a gun...in the UK we can't believe the ease with which children in the US can obtain guns and march into their school blasting anything that moves. But its not the guns fault is it, how dare anyone question their first amendment....

ILW

I have used payday loans twice in my life, paid them back when due with about a tenner interest. What is the problem?

ciscokid

I have already agreed elsewhere that I think Wonga are an excellent company. When my last employers left me stranded in a foreign country with a £1000 hotel bill to pay for they came in very handy (well them and a few others, they don't let you borrow that much!). When my last employer docked £1000 out of my pay packet after thinking they had already given me this money to pay for the hotel...I got completely shafted. It took a long time to fix this mess. That's why they are my former employers.

If I could have received the loan I was looking for long before this big f*** up occurred (which I knew, with my luck, was going to happen) I would have never needed to go down the pay day loan ever again after clearing my first repayment with them (which helped me pay for my sons birthday at a time when, as the case still is, the amount I was repaying in debt and charges lead to me having no clue where I was financially and could not allow me to budget.

Hax

I'm with ILW here - I took out a Payday loan of £120, through Wonga, when I realised that my wages were going to be a couple of days later hitting my bank account one month and my credit card due date had crept forward (because of a weekend) and I wanted to clear my credit card. Got the loan, paid it off the day my wages hit my account (and before the date I'd agreed) and it cost me about £10. I had no problems with Wonga at all - just worked as expected.

As I've always said, if Payday loans are used as intended - which is as an advance on ones wages and NOT as an extension to them then they are very handy and should cause no problems. Problems only arise when those taking out the loans have no self control and use them to extend their "normal" monthly wage.

You should only ever use them if you are 100% sure that you can repay them in full when agreed and can then just walk away from them.

Peelerfart

Are you the origin of the saying "Careful mate you may tread in that cisco"?

StevieJ

ciscokid wrote: »

I dont care on personal circumstances surrounding betting football...but when I see 40 football thugs kicking seven shades of sh*t out of one person sporting the opposite scarf I know that at least 1 in 40 must have had some amount of money involved that has fuelled their rage, in addition to the alcohol and apparent lack of brains they have (evident by the fact they'd gladly routinely waste 90 minute of their life watching guys run around a field who earn more per month that they will in their life)

Sports betting ("i've no issues with my gambling") types paid for my christmas last year though..so carry on

Obvious lack of empathy, I hear that statement from time to time and wonder what exciting events the particular person participates in.

ciscokid

Peelerfart wrote: »

Are you the origin of the saying "Careful mate you may tread in that cisco"?

I stopped reading any of your posts after you tried to poke fun at me for making "false claims" about the weather (ie. when it wasn't snowing outside your window you seemed to think I was madfor suggesting I couldn't reach my bank due to the snow). Now because theres been an inch of snow in England I can't even change the channel on TV without seeing "OH NOES!! SNOW EPIDEMIC!"