Pay Day Loans On A Sunday

Apples2

Maybe they need another striker

dealer_wins

Wanka, Quick$h1t, Toothache, MrPayday, Unsafeloans

There are 100s of companies ready and waiting to make your life a complete misery.

Tremour-88

So if you can afford to pay a new one back why do you already have 1 unpaid PDL?

oldhand

Is it the leg stretcher under another name??:think::think:

Saints2011

oldhand wrote: »

Is it the leg stretcher under another name??:think::think:

Haha, quality :rotfl:

45minutewarning

The replies below are probably the best advice you can get - don't take out further loans to pay off existing ones. You are just being exploited by these people. I speak as someone who has worked inside the industry.

As I have previously posted on this forum, when you apply for a payday loan your application may go through a broker without you being aware of it. Payday loan brokers try to get the loan from the lender that pays them the highest commission - they are not interested in getting the best deal for you in terms of APR, or repayment terms for example. Lenders can pay up to £40 commission to the broker for each loan secured. Remember, that £40 comes out of your pocket - you are paying for the privilege of getting the best deal for the broker and possibly the worst deal for yourself. Brokers tend to be a bit secretive about the order in which they send applications to the lenders. In many cases I don't think the lenders realise how far down the "food chain" they are. But, as one of the commercial managers once told me: "There is little transparency or honesty in this industry". Brokers may also damage your credit rating by sending inaccurate personal details to lenders, most of whom will perform a credit check on you.
The industry is currently enjoying an orgy of unregulated greed. Having worked for one of the major payday loan brokers, my advice is to kick the habit and don't touch these loans. The profits that are being creamed off vulnerable people are enormous, enabling people in the industry to live in tax havens like Monaco. I believe the UK Government will inevitably have to regulate this industry but we should also try to avoid using their "services"
BTW, while customers tend to be the main victims of this industry, spare a thought for some of the staff. Our call centre manager once boasted that if any of his staff failed to get any clients to take out a loan during their working day, they were made to sit in the corner with a dunce’s hat on. I may be naive, but I thought that kind of maltreatment disappeared with the Victorians. I'm surprised nobody has sued them for breach of human rights and employment law.

Peelerfart

We all know it's a one off oportunity to put a holding deposit down on a banana yellow SEAT (with the technology pack of course) so give the guy a break OK!

I think he deserves a holiday after all this hassle.

DCFC79

Tune in ths sunday for another thread about wanting an urgent loan from a Pay day Loan Co. Will it be leg stretcher number 2 or another reason.

Peelerfart

Anyone remember the guy who asked for loans only on Saturdays?

[Deleted User]

I still have a fondness for the guy who had been in his first job from uni for about 6 months, was feeling a bit stressed, so wanted a loan to go on holiday for a year.

Good start to a 40-50 year working life....