MSE Blog: A Wonga loan to go to the pub? I should beat you with a salmon

Former_MSE_Helen

Hi all, this is a thread to discuss the MSE blog:
A Wonga loan to go to the pub? I should beat you with a salmon


"A few weeks ago, I read on Facebook that a friend was heading out to the pub and because he didn’t have any money, he got himself a ‘Chunk of Wonga’ which means he has just taken out a £400 Wonga payday loan..."


Click reply below to discuss. If you haven’t already, join the forum to reply. If you aren’t sure how it all works, read our New to Forum? Intro Guide.

amorv

"another consumer exploited by the promise of quick cash".

I have a few thoughts about this story, but "exploited consumer" isn't high up on the list..

[Deleted User]

What exactly do you want us to discuss here? The guy's clearly an idiot, but not much you can do about that...

~Brock~

Fair play to Wonga for being the company in the right place at the right time to make money out of this idiot. Next.

OneLife_OneShot

It is idiotic, I had my problems with them once when I lost my job legitimately might I add but have never returned since then.

I know people who use them each and every month even for the sake of £50 before payday to buy that new pair of trousers or go for a drink, none of them have ever heard of a credit report and one applied for a £7,000 loan and was astonished when he was rejected. I could not even bring myself to tell the poor soul why.

He is adamant Wonga is fine and he can use it each month without worry. I would say over the past year he has had about fifteen loans and paid average £25 interest on them. That is over £250. That is a decent return flight for a holiday with extra leg room and a suitcase. Maybe even a cheap break in Europe for the weekend.

I am 24 and I have come to the conclusion with my generations attitude towards receiving benefits and the likes of pay day loans.

To put it lightly, we're all f**ked.

Apples2

At least this bloke actually did something with the money.

Where's that other fool around here who has been taking out Payday Loans solely to "build up" his Credit File??

OneLife_OneShot

I pity the fool.

That bloke either got really drunk or lost it on fruit machines.