wonga payday loans

rdwarr

dealer_wins wrote: »

Why are so many people completely ignorant and stupid when it comes to money these days.

Education? When I was at school (1970s) we did an O-Level in something called "Social Economics". Taught us all about money management and the pros and cons of borrowing etc.
It was a bit of an experimental course and the hope was that it would become part of the National Curriculum in years to come. But it disappeared without a trace leading to hundreds thousands of kids leaving school with a detailed knowledge of 19th Century European politics but no idea what an overdraft was.

rdchick

I think it's because it is just far too accessible now - back in the day (I am 23 but still!) you had to go to the bank in a suit and ask the manager for a loan and give a damn good reason but now you can sit in your pants at home and click a few buttons - easy peasy - when you're a kid (ie 18) the things you think are important like going out to a club with your mates deems a reason request for a loan with Wonga - let's face it Wonga were including holidays etc as one of the reasons you would take out their crazy loans! It's all too easy, too accessible and a bit faceless - plus you're right about education too - we learnt nothing about money management in school (I left 7 years ago!) xxx

RICK..._2

dealer_wins wrote: »

Sign of the "I want it and I want it now at any cost" times????

I am assuming you mean food, water, gas, electric? As judging by the OP's post, the guy doesn't sound like he is after the latest iPad or PS3!!

OP, I'd get round there and help him sort his life out and find a job, rather than moan about whether he's put you down as a guarantor or not.

Apples2

tibbers wrote: »

iii. acceptance by us of the person you have nominated to act as Surety and provide a Guarantee, where applicable,

The key term is "where applicable", this would only be applicable for a Guarantor Loan.

Definitely worth being concerned about but generally, Guarantor loans, whilst far from foolproof, do generally tighten their game up.
It is common for the loan company to deposit a guarantor loan into the Guarantors account to avoid any foul play, then the guarantor hands the money over to the reckless dribbling fool.

We did have an interesting post a while ago where this idea was cleverly exploited.

Somoene applied using a friends name as guarantor, they used a friend they owed money to (hence they already had their bank account details).
The money was duly credited to the guarantors bank account.

"Theres the money I owe you" came the chant from the applicant just before doing a moonlit flit.

Imagine the surprise when no payments were made, the guarantor left to repay the huge APR loan after the ex-friend was long gone, never to be seen again. :rotfl:

Skinto_7

dealer_wins wrote: »

Why are so many people completely ignorant and stupid when it comes to money these days.

When I was a yoot (25 year ago), myself and people of my age seemed 10 times more financially mature.

Sign of the "I want it and I want it now at any cost" times????

Would agree that to many people now think they have a right to have all the latest gear and think wonga type loans are the way to do it.

However would argue that its not purely a generational thing, although its much easier to get loans etc nowadays as RdChick points out, there are plenty of older folks who are just as clueless and get themselves into mountians of debt as the younger people. I am still in my 20's (just) but am much more carefully and aware of my income/outgoings than many older people i know.

As for education, although i would agree that "social economics" would be much relevant than alot of the stuff getting taught nowadays, i dont think it should be used as an excuse by folk who are to irresponsible to look after their own affairs!!!

dt3887

has no one pointed out the fact that its a PAYDAY loan, and the OPs stepson's JSA has been stopped? even wonga wouldnt pay out to someone who doesnt have a payday coming... chances are he is lying on his applicationb form, which, if im not wrong, is fraud by deception?

He has no income whatsoever as his jsa was stopped. He will not be able to pay any of this back at all.

musashi10

I think if it went to court the judge would more likely question the pdl and their checking systems