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borrowing from wonga?

mitali
mitali Posts: 5 Forumite
in Loans
has anyone used the wonga site?

it looks more helpful than going into my bank, but the APR is really, really high....

Comments

  • DCFC79
    DCFC79 Posts: 40,652
    Part of the Furniture 10,000 Posts Name Dropper
    Forumite
    edited 23 July 2011 at 10:13AM
    Why wonga ? how much do you want to borrow ?
  • Apples2
    Apples2 Posts: 6,442 Forumite
    It's not the borrowing. It's the paying back nobody seems to consider.
  • crazyguy
    crazyguy Posts: 5,495 Forumite
    If used as a short term loan then can be ok, still very high rates though, but if you fail to pay back on time then you will be hit with a whole lot more extra cost's on top.
  • vax2002
    vax2002 Posts: 7,187 Forumite
    It is a sign that the fat lady is singing on your life.
    STOP and make the changes now, Wonga is a free drink from the Devils cup and it is a slippery slope to increasing the trouble you are in ten fold.
    Make those changes NOW, do the sums, hold a fire sale, ANYTHING but drink from that cup.
    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 ForumTeam
  • LovelyLeeds
    LovelyLeeds Posts: 584
    Part of the Furniture 500 Posts Photogenic Combo Breaker
    Forumite
    vax2002 wrote: »
    Wonga is a free drink from the Devils cup and it is a slippery slope to increasing the trouble you are in ten fold.
    Excellently put! :T
    Avoid like the plague, as with all PDLs. A PDL is an LBM - no question!
  • DarnIt_3
    DarnIt_3 Posts: 294 Forumite
    mitali wrote: »
    has anyone used the wonga site?

    it looks more helpful than going into my bank, but the APR is really, really high....


    Seriously...more helpful than your bank....... that means one of two things...you are in serious financial difficulty so your bank won't look twice....if this is the case borrowing at 5000% is NOT the way to go as this will cripple you further.

    Or you are not an UK citizen and therefore cannot borrow for the bank. In that case, applying for the loan is illegal.
    29th June -Beginning Credit Score 422 :( £2575
    12th July - Credit score 471 :p
    22nd August - Credit Score 550 :p Still very poor just but only just!
    Remaining to pay off: £1370.95
This discussion has been closed.
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