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the curse of pay day loans

sur1972 · 2012-05-16 14:22:53

We have fallen into the trap of payday loans, i was in a well paid job and borrowed a thousand with a thirteen hundre payback, (i should say my credit rating is poor) now having lost my job we cannot repay the loan. HELP:mad::mad:

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absolutereturn Posts: 254 Forumite

5 June 2012 at 12:33PM

Wonga's latest ads are targetting self-employed people with cashflow problems due to not getting paid by clients. They must know this will be a cash cow for them when borrowers don't get paid within the month and they start rolling over their loans... Despite numerous people defaulting on their loans if what you see on these boards is anything to go by, they must still be making a stash of cash if they can afford prime time TV advertising... :mad::mad::mad:

Big corporations take advantage of the unwary, it's time we learned how to deal with them

:dance::dance::dance:

Any comments are based on personal experience and interest in consumer matters, they do not constitute advice.

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the curse of pay day loans

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