Best Payday Loan Company

Naf

KingElvis wrote: »

Not really true, if you carry a balance on a Vanquis card it will cost you thousands in the end, and the interest chraged on cash advances would cripple Alan Sugar let alone some poor skint mum who wants a carpet.

I would honestly think again but that's me I guess.

Wonga will charge you £95 per month for £300 (The Money Shop is cheaper at about £75), do Vanquis really charge more than 380%?

KingElvis

Naf wrote: »

Wonga will charge you £95 per month for £300 (The Money Shop is cheaper at about £75), do Vanquis really charge more than 380%?

Vanquis at their worst charge (I think) 69.9, probably a whole lot more for cash advances.

I would imagine if you run a balance at that rate and let the compound interest build up, you'll be in a very sad and dark place. Maybe not as barking or destitute as Wonga but a very close second I'd imagine.

As I've said before, I'd rather eat bargain noodles and sit on milk crates than get into debt with them.

Naf

KingElvis wrote: »

Vanquis at their worst charge (I think) 69.9, probably a whole lot more for cash advances.

I would imagine if you run a balance at that rate and let the compound interest build up, you'll be in a very sad and dark place. Maybe not as barking or destitute as Wonga but a very close second I'd imagine.

As I've said before, I'd rather eat bargain noodles and sit on milk crates than get into debt with them.

I believe that CC companies are now obliged to set the minimum payment to cover at least the interest charged? Did I hear that, has it happened?

I agree with you, though; I have run a balance for 6 months with The Money Shop at one point before paying it off. Thankfully I have no need of them, and have set up an account with my local credit union and will be able to go there if absolutely necessary in the future.

mummyplus3

Just thought I'd update this and let you know how I got on, Carpet is all fitted now I took out a wonga loan of £150 and a provident loan of £500 to pay for it, turns out I didnt need the Wonga loan so I paid it back the next day @ £157.03 (made £7.97 cashback) so a small profit there. I also took Nafs advice and applied for a loan from the Local credit union and got accepted for a loan of £200 so will be picking up the cheque today then paying that off the provident loan next week taking the provident loan down to £300 which I'll be over paying untill my Birthday and then paying off the rest with the "present money" So I am at this precise moment in £695 of debt (already paid £5 off credit union loan) for the next few weeks then I will be paying off my Credit union loan at £5 a week and saving £5 a week with them so Thank Naf! You've saved me a bucket load of interest by shuffling things

Peelerfart

Glad it worked out for you mummy.

Not many bother to come back and post good news.

Naf

Great to hear it worked out, and you avoided an ever extending PDL :-)
Credit Union are brilliant; and once you're paid off, you'll have £200 in savings too :-)
In fact, they'll almost certainly be cheaper than the pru, and Credit Union will let you apply for an extension once 50% is paid. Once you've paid off £100 I'd suggest going back and seeing if they'll extend to cover the pru loan too; save you a bit more in interest.

Apples2

creditguard wrote: »

It is very tough to select best consolidation organization for you .

I think YOU'RE an organ

KingElvis

creditguard wrote: »

It is very tough to select best consolidation organization for you. The assortment should be support upon the uniqueness and status of the organization. You have to seek their past record and their situation first and then you can choose 4 to 5 organization and then contrast their facts. After this you can select the best apt for you. Debts Consolidation program can give you respites from the irritation calls from the creditors as well as your multiple borrowings will be consolidated into a lone lend, one time you choose an organization and agreement with them. The organization expert will converse your creditors and they will bargain to make the most favorable deal for you.

I see you're fluent in drivel, that rubbish makes no sense........

thegoodman

Naf wrote: »

I needed about £80 of it upfront. So I went to The Money Shop, cashed a £100 personal cheque (pretty much same rates as any other payday loan) and went ahead and got what I needed. Turns out the money went in Tuesday evening, so Thursday I went straight back in and repaid it, reclaiming my cheque.
For the sake of £17 and making sure I got everything I needed on time, it was perfectly acceptable to me given that I had no other place to go to get it.
The AER on that works out around 6200% (I think) which is utter madness if you choose to look at it that way, but its not the same.

I think £17 extra on £ 80 seems to high.

Peelerfart

Good old creditguard! How is the weather on your planet?