Wonga/Payday Express - Why don't they play ball?

BoGoF

A CRT television ?

Somw PDL seekers would reject that on the basis of not being "with it".

michael1983l

copa_feela wrote: »

So they've also got the internet to access Freecycle, and transport to fetch the "free" tv? Lots of things that could be sold to provide a short term income!

Constructive advice - take responsibility for your own actions. Stop blaming other people for your mistakes.

Libraries have free internet access for all. Who is blaming anybody for my mistakes? Where have I said it is somebody else's responsibility for me being in trouble?

I am taking responsibility, I have a payment plan set up to pay them back. What I am asking for is RESPECT to those that ask for help rather than Judgement. Oh and I suppose a bit more regulation on Payday Lenders wouldn't go a miss either.

michael1983l

BoGoF wrote: »

A CRT television ?

A PDL seeker would reject that on the basis of not being "with it".

There you are, steriotyping again.

copa_feela

michael1983l wrote: »

Libraries have free internet access for all. Who is blaming anybody for my mistakes? Where have I said it is somebody else's responsibility for me being in trouble?

I am taking responsibility, I have a payment plan set up to pay them back. What I am asking for is RESPECT to those that ask for help rather than Judgement. Oh and I suppose a bit more regulation on Payday Lenders wouldn't go a miss either.

Your library is open at 9pm on a Saturday night is it? :rotfl:

I have all respect for people that take responsibility for their actions. As I said, been there myself, and sorted it out myself. I fail to respect those who keep blaming others, because they clearly have no respect for themselves. Your repeated efforts at blaming the lenders have already been documented.

BoGoF

I've edited my post to "some PDL seeker". Can you not acknowledge that a significant proportion of people who get PDL loans are driven by greed ?

I'm willing to wager a fair proportion of them have every mod con going, sky tv, plasma tv, I-phones, PS3's etc etc. You can call this stereotyping.....I call it what I have seen.....

antrobus

michael1983l wrote: »

The very fact that it is even up for debate should send alarm bells ringing. New York is a pretty significant state in the US and they have outlawed the practice. If it was so cut and dry that the practices were 100% upstanding then there would be no grounds for them being outlawed at all.

I don't think anyone is claiming that the issue isn't up for debate. But arguing that we should do something just because some some states in the US have done it isn't much of an argument. You could equally well argue that Texas is a pretty significant state in the US and they have the death penalty, so what's holding us back.

michael1983l wrote: »

As for the banking system, well the administration of accounts may be different but they are still based on a centeral bank and they still can invest in bonds and stock without actually providing any capital. Their currency is till issued by the Fed reserve of which they charge interest to the issuing bank much like the BoE over here. The banking systems are very similar indeed, they still make securities againt property and assets like we do.

Not really. They have federal banks and they have state banks, as well as S&Ls and Federal Savings banks, all with different regulators. Their credit unions are much bigger and actually compete with banks. There is no national interbank market in the USA; if US banks want market prices for USD loans they use our LIBOR. They have no national interbank payment system, no central clearing, no BACS or direct debit, it's all checks and cashiers checks.

michael1983l

copa_feela wrote: »

Your library is open at 9pm on a Saturday night is it? :rotfl:

I have all respect for people that take responsibility for their actions. As I said, been there myself, and sorted it out myself. I fail to respect those who keep blaming others, because they clearly have no respect for themselves. Your repeated efforts at blaming the lenders have already been documented.

Some lenders did lend to me, when they clearly should not have done should they have been lending responsibly. I blame them for that, sure I do. I also blame them for their extrodinarily high interest rates and even though I agreed to them I had no options or at least at the time thought I had no other option. What I do not blame them for is the money I owe them, I am responsible for that, which is why I am paying it back. I have been in debt for 10 years and it is only the year just passed where I have ever really defaulted on my debt.

I wished I lived in your world where everything is so black and white. It would make things alot easier.

michael1983l

antrobus wrote: »

I don't think anyone is claiming that the issue isn't up for debate. But arguing that we should do something just because some some states in the US have done it isn't much of an argument. You could equally well argue that Texas is a pretty significant state in the US and they have the death penalty, so what's holding us back.




Not really. They have federal banks and they have state banks, as well as S&Ls and Federal Savings banks, all with different regulators. Their credit unions are much bigger and actually compete with banks. There is no national interbank market in the USA; if US banks want market prices for USD loans they use our LIBOR. They have no national interbank payment system, no central clearing, no BACS or direct debit, it's all checks and cashiers checks.

Fair enough, you know more about the US banking system so I will take in what you have said and digest it. I am willing to accept where I am wrong and in this case it appears I was wrong. My opinion on the current UK PDL situation is unchanged though.

michael1983l

BoGoF wrote: »

I've edited my post to "some PDL seeker". Can you not acknowledge that a significant proportion of people who get PDL loans are driven by greed ?

I'm willing to wager a fair proportion of them have every mod con going, sky tv, plasma tv, I-phones, PS3's etc etc. You can call this stereotyping.....I call it what I have seen.....

Ahh you ask me a question that is constructive. Yes I can agree that some payday loan seekers are driven by greed, absolutley. But please don't just make that assumption because you have seen some folk down your street taking them out and they got Sky Sports and everything. This is the cusp of the debate, not everybody is there through irresponsibility some people are there through genuine circumstance.

I answered your question honestly now will you please answer one of mine.

Can you not acknowledge that a significant proportion of people who get PDL loans are driven by circumstance ?

BoGoF

michael1983l wrote: »

Ahh you ask me a question that is constructive. Yes I can agree that some payday loan seekers are driven by greed, absolutley. But please don't just make that assumption because you have seen some folk down your street taking them out and they got Sky Sports and everything. This is the cusp of the debate, not everybody is there through irresponsibility some people are there through genuine circumstance.

I answered your question honestly now will you please answer one of mine.

Can you not acknowledge that a significant proportion of people who get PDL loans are driven by circumstance ?

If the circumstance is lack of education as to what APR means and not reading an agreement then yes.