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What's the cheapest payday loan company ???
Comments
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Leaving aside the fact you are about to make one of the worse decisions of your entire life.... wonga appear to be one of the least woeful.0
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That's like asking "Which is the best car to be run over by?".
Some may be marginally better than others, but surely you'd prefer not to be run over at all?Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Wonga may be the best but you might find these two articles interesting reading before you go with them
http://www.guardian.co.uk/business/2011/may/13/wonga-boss-errol-damelin-friday-interview
http://www.guardian.co.uk/commentisfree/2011/jun/01/consumers-protection-money-lenders-online?INTCMP=SRCH
It's worth reading them both before you launch into comments...0 -
yep, pd loans should be the very very last resort in an emergency and only use for a few days, can u ask friends or familly to help you if its short term ?Dmp Mutual Support thread member No 820
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barbarawright wrote: »Wonga may be the best but you might find these two articles interesting reading before you go with them
From one of those linksDetractors highlight interest charges of 4,217% APR, though Damelin, with some justification, expresses frustration at this. He is legally required to publicise this rate in Wonga publicity— which assumes compound charging over a whole year — even though he only offers loans of up to 30 days, charging simple interest of just over 1% a day, plus a fee. Borrowing £100 for 15 days, for example, costs £21.11.
I've likened this before to ringing a Holiday Inn for a Room.
When I ring to find out how much a room is, the Holiday Inn don't say, "That will be £32,500" they simply tell me the nightly rate for that room... Why??
Because the PDL companies are legally obliged to tell you the APR when in actual fact, the loan is only designed for a short period.
The same as a room in a hotel, you aren't supposed to spend the entire year there, only a few days.
If I booked a room for three days in the Holiday Inn but barracaded the door and refused to leave for a year, would I get the same sympathy from others when the Hotel was trying to charge me thousands??
I'm not trying to defend PDL companies, but when used correctly, I can see the benefit. Sadly far too many people abuse the facility and cry foul afterwards.0 -
Good point Apples but what have we had on here lately?
payday loan to go on a hen night !!!!!!?"We want the finest wines available to humanity, we want them here, and we want them now!"0 -
Apples2 and RichGold, people come on here for answers to their questions not your personal opinions !
First of all, I'm not stupid, if I did have any other choice like asking friends or family I wouldn't be taking out a payday loan !!!
I don't have any other choice, an unexpected cost has come up that I cannot cover and must cover so the payday loan is the only way for me.
Also I've just checked and I'll go with payday uk, who charges £25 per £100 borrowed for NEW loans. I've taken out a loan with them a while ago when I was stuck and paid back in full so the interest on the £200 I need would be even less than that, but even if it was that and I had to repay the £200 plus £50 interest topcashback offer £40.40 for a loan taken out so basically I'd pay £10 interest for getting me out of this situation, which is fine by me. Just came here to check if anyone had had a good experience with a particular company and all I get is treated as if I have no clue what I'm doing !!! Its no wonder some people doing bother posting on here...0 -
i really think you are playing with fire...and will get burnt...It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.0 -
OP, how about a savings account.
These clever things allow you to put money in to them each pay day.
Then, when an unexpected expense occurs, some of these accounts allow you to withdraw some of the money saved to pay the bill!0 -
Apples2 and RichGold, people come on here for answers to their questions not your personal opinions !
First of all, I'm not stupid, if I did have any other choice like asking friends or family I wouldn't be taking out a payday loan !!!
I don't have any other choice, an unexpected cost has come up that I cannot cover and must cover so the payday loan is the only way for me.
Also I've just checked and I'll go with payday uk, who charges £25 per £100 borrowed for NEW loans. I've taken out a loan with them a while ago when I was stuck and paid back in full so the interest on the £200 I need would be even less than that, but even if it was that and I had to repay the £200 plus £50 interest topcashback offer £40.40 for a loan taken out so basically I'd pay £10 interest for getting me out of this situation, which is fine by me. Just came here to check if anyone had had a good experience with a particular company and all I get is treated as if I have no clue what I'm doing !!! Its no wonder some people doing bother posting on here...
Well done, mate. I, too, get sick of people pontificating on this website and not just responding to the OP. Good luck.0
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