Tv Adverts for Money Lenders

wik

Drive me mad....
:mad:
as I am sure that some people end up being sucked in by them at this time of year in desperation.... And they dont take much notice of the payback terms as that bit seems to flash by quickly! Last night there were 3 in a row on one channel!!

arcon5

Visit the websites of most of the large lenders and its clear what your borrowing, how long for and what you will pay back. So if people don't take much notice of this and "get sucked in" then more fool them!

scheming_gypsy

and they do make some great adverts http://www.youtube.com/watch?v=CjY0mbh8fxU&feature=related

bloss0m

Its a shame people still borrow money just to buy xmas things

Laz123

These vermin are preying on vulnerable people who think they can pay back the loan on time but often can't, who then get drawn into paying these exhorbitant interest rates getting themselves more and more into debt.

These lenders are nothing short of legalised loan sharks. They should be taken outside and executed in front of their families. (Now, where have I heard this expression before?)

celtus

I agree 100% with Laz123 the only difference between these kind of low-life scum bag, parasitic, leeching blood suckers, and 'real' loans sharks are that the 'legalized' ones dont use baseball bats ...yet!

Quote from website:

"The company has attracted more than £100m from backers such as Balderton Capital, Accel Partners, the Wellcome Trust, and early-stage investor TAG. Most recently, it raised £73m in March in a funding round led by Oak Investment Partners. But Damelin says Wonga’s fundraising days may be behind it, with the company well able to support further growth from cashflow. It is able to draw on the expertise of its investors. Robin Klein, who owns TAG, is Wonga’s chairman. He has backed a number of success stories, including Lastminute.com, Lovefilm.com and Last.fm."

Details of how these 'legalized' loans sharks are funded ect: :mad:

http://www.fasttrack.co.uk/fasttrack/leagues/dbDetails.asp?siteID=3&compID=3164&yr=2011

scheming_gypsy

Laz123 wrote: »

These vermin are preying on vulnerable people who think they can pay back the loan on time but often can't, who then get drawn into paying these exhorbitant interest rates getting themselves more and more into debt.

These lenders are nothing short of legalised loan sharks. They should be taken outside and executed in front of their families. (Now, where have I heard this expression before?)

Have to disagree. It's a short term loan, if somebody takes out a short term loan without the ability to pay it back, then who's fault is it?
The loans aren't advertised as long term loans and they don't exactly lend up to £25,000. So if you borrow £100 for a month and make absolutely no effort to repay it, it's your own fault.

DCFC79

They're just businesses who are promoting what they do like what other firms do. Its up to the people who are watching the ads to check what they are signing up for eg charges, t&c's etc. There are always people who are spending above they're means or have outgoings that are more than what they have coming in.

MrsE_2

DCFC79 wrote: »

They're just businesses who are promoting what they do like what other firms do. Its up to the people who are watching the ads to check what they are signing up for eg charges, t&c's etc. There are always people who are spending above they're means or have outgoings that are more than what they have coming in.

I think them advertising on the telly somehow legitimises them & I think thats worrying.

timbstoke

MrsE wrote: »

I think them advertising on the telly somehow legitimises them & I think thats worrying.

Well yes....that's because they *are* legitimate. Regardless of whether you approve of their business model, it is a legitimate business, and even Martin has acknowledged that, in the right circumstances, they can be useful - for example borrowing £100 for a week to avoid going over your overdraft limit will often be cheaper than the bank charges you'll incur by going over.

I'm not personally a fan and would advise anyone to look elsewhere for money, but they're not actually doing anything *wrong*

DCFC79

MrsE wrote: »

I think them advertising on the telly somehow legitimises them & I think thats worrying.

If used correctly they are fine but the problems start when payments are missed. They should be a very very last resort for people.