2278% apr?????????

puddy

how is the calculation worked out then, (i have just seen this advert too)

say i borrowed £250 at the quoted rate of 2278% and paid it back in 2 weeks

how does the calculation work?

Chris55_2

To HamNeggs...
do you hang around many message boards? I think this one is actually reasonably friendly. The only ones I visit that are much better are a few where most people post under their real names, and that's not really going to work here! Trolls and spam are just the cost of allowing free access.
Many of the problems do seem similar - but that's the way I'm sure it is in Citizen's Advice offices - also many of the suggestions are similar. You may think it's not helpful to ask certain questions ("why did you take this loan out in the first place?") - but a large number of people seem to come here with the idea that if they have a problem with debt then the solution is to get into more debt.
I think there is a real problem with expectations in this country - if you want something then you must have it now - even if it will cost a huge amount in real terms. We are a nation of debt addicts. I think that, hopefully, this board does some good to some of the posters.

zaksmum

I'm fortunate enough not to have ever taken out a loan, apart from a mortgage, but if I did it most definitely wouldn't be at an APR of 2278%!

fozmcfc

Oh so close, nearly the regular Wednesday shocking APR post, but not quite just 14 mins late.

Very naughty OP we can expect such tardiness from newbies, but not someone with over 1,000 posts.

Take 2278 lines and write,

"I must not post ridiculous newbie type posts about APR's when I obviously don't understand what APR means"

dunstonh

I congratulate those who genuinely look to support others but I feel myself that this forum is not the pleasant and friendly support domain it was doubtless originally set up to provide. Human nature and pettiness have seen to that.

Giving cuddly "there there never mind" responses doesnt do any favours when the person is at fault. There are far too many people posting on this site who are in the wrong but wont accept it. They want to blame someone else and get compensation for it. Where a person has a genuine issue and needs support they will nearly always get it from this site. However, where the person is compensation claiming scumbag who is just looking for a quick buck then they deserve all the scorn poured on them.

With some subjects, some people just like to whinge and complain without knowing the facts. When the facts are pointed out and explained some will accept that and thank you for explaining it. Whilst others prefer to remain ignorant and will respond nastily because you havent agreed with them.

Personally, I think the responses in this thread have generally been good.

opinions4u

Giving cuddly "there there never mind" responses doesnt do any favours when the person is at fault.

Spot on.

When people misuse cold, hard cash (or credit), the outcomes are often cold and hard.

Sometimes a cold and hard statement of fact on a messageboard may bring an individual to their senses before financial blindness or financial difficulties become a genuine life ruining financial disaster.

Ignoring the nasty man who tried to open your eyes by sharing his experiences and observations of others is not likely to be the best way forwards.

Peelerfart

HamNeggs wrote: »

In my first post I explained that I had refrained registered purely to respond to an individual who was immensely infuriating. This thread highlights why I had not bothered previously and will not do so again.

OK bye! missing you already !

KingElvis

HamNeggs wrote: »

I congratulate those who genuinely look to support others but I feel myself that this forum is not the pleasant and friendly support domain it was doubtless originally set up to provide. Human nature and pettiness have seen to that.

Woah, don't you have a bee in your bonnet?:rotfl:

Apples2

HamNeggs wrote: »

1. I took out a payday loan and can't pay it back - Repeated 10,000 times

Not sure you have a grasp on what a Forum is for.

These posts may be repeated 10,000 times and yes, it does get tiresome but for each new poster, it is THEIR first experience of it.
Why should the responses be ANY different from the last thread of responses if the advice is correct?

Not entirely sure why you signed up, we do have a VENT Forum specifically for people to have a good 'ole moan and get it off their chest.
It is best to keep the posts relevant to the Forum titles, you'd know this if you understood forums a little more instead of impressing your opinion wherever you feel like.

Are you ciscokid come back for a gripe??

Hax

HamNeggs wrote: »

In my first post I explained that I had refrained registered purely to respond to an individual who was immensely infuriating. This thread highlights why I had not bothered previously and will not do so again.

But, all the answers prior to your post were on topic and perfectly polite. I don't see why this thread has got your back up so much?

HamNeggs wrote: »

Martins Money Tips Forum reminds of a film called GroundHog Day. What was a good idea has now degenerated to a chat forum involving repetition, petty mindedness and bickering.

Repetition could be easily avoided by people using the search button. Hardly the fault of the long timer posters here.

Petty mindedness and bickering are just parts of normal life - it happens everywhere - and I don't think that it is more prevalent on here than any other forum. People are talking about their financial decisions - many people get quite emotional when doing so - either because they are in distress or because they are getting infuriated by offering good advice only to have it thrown back at them because it's not what the OP wanted to hear.

HamNeggs wrote: »

The threads appear to revolved around:

1. I took out a payday loan and can't pay it back - Repeated 10,000 times

Instant response - endless succession of people telling advising others that they shouldn't have taken it out

Pay day loans are just that. Loans to tide one over until their next pay day. In most cases, people tend to treat them as "free" money and then get upset when they have to pay them back in one go - claiming they've been "robbed" or "scammed" - when in fact, they have simply made an unwise decision and in many cases not even bothered to read the Ts & Cs. A LOT of people simply see the ability to get cash and, motivated by greed, want it there and then.

HamNeggs wrote: »

2. I can't manage my monthly expenses

Instant response - similar number of people requesting that the posters post an SOA on the site, advertising their personal affairs to the world for the sole purpose of providing voyeuristic pleasure to other readers who can provide the stock answers such as 'this is a lot have you considered cutting down' - of course they have considered cutting down. The purpose of an SOA on MSE is purely to enable Mavis to shout out 'oooh Johnny look how much this person spends on food, aren't I clever for doing it so much cheaper'

The person has come here looking for help. How can any be given without some understanding of their finances. Would you rather we just reply with a consoling "There, there. You're no on your own - but good luck sorting it out yourself" ?

HamNeggs wrote: »

3. I got a parking ticket in ASDA do I have to pay it.

This should be a template on the site to save the 1,000,000 people who have asked the question to date having to type it again and again

The list is endless, unfortunately the variety of questions is not.

Again, the answers are on here - if only people would use the search function. But they don't - maybe they don't know how to or maybe they don't want to. Having said that, if everyone was able to search for their query and get an instant response then this forum would soon die as it would look like it wasn't being used. Discussion and sharing of experiences is healthy.

HamNeggs wrote: »

But perhaps the worst of this site is the endless bickering, name calling and personality driven responses which seem to pervade the entire forum. There appear be individuals who have posted in the 10s of 1000,s who view this site as a personal domain and who live virtual lives through it. Cliques are formed, new posters are either derided, judged or labelled 'Trolls' (whatever one of those is), being accused of having no lives by people who spend virtual lives on here - there is an irony there which beggars belief.

I congratulate those who genuinely look to support others but I feel myself that this forum is not the pleasant and friendly support domain it was doubtless originally set up to provide. Human nature and pettiness have seen to that.

Support shouldn't be about molly-coddling people. It should be about helping them realise where things have gone wrong and to take responsibility for the decisions they make. Sometimes posts will come across as abrasive - that doesn't mean that they lack value. I'd far sooner have a blunt and direct reply than a flowery one that obfuscated the advice being given.

Where threads start to get "abusive" or "rude" then it is quite often because of the way the OP has started their post or because of the way they have responded to perfectly good replies they have received offering them advice that they just didn't want to hear!

All-in-all, I think that this is a "good" forum. I signed up quite a while ago but only really started joining in around September this year when I reached the point where I though I could maybe add some value and help/support for others.