Wonga lol!

sharpy2010

Just logged onto Wonga (Yes I know, I'm well aware lol!) to see my account at £0, and noticed they'll lend me anything up to £1100! I was sure their maximum loan amount was only £1000 though.

I've no intention of borrowing money from them (used them in the past, no frills, no problems, paid back and end of story) but I was interested to see how much they'd lend, and it was £1100.

Anyway, logged off now and closed the site down.

Anyone else been offered more than the maximum of £1000 that they advertise on the main screen of their site?

[Deleted User]

You're right they say they'll only loan £1,000 max but there have been quite a few topics here from people mentioning higher loans. Maybe their site is out of date?

sharpy2010

They're good for a couple of quid if you desperately need the money and can't get it elsewhere, but start borrowing anything of significance and even people with reasonable salaries would find it hard to pay back the loan!

Its always nice to have them as a last resort, but at the price they charge, it will always be a last resort :-)

Moneymash

Are you really advertising this company?!

Apples2

sharpy2010 wrote: »

but I was interested to see how much they'd lend, and it was £1100

Not really something to "lol" over though.
These Companies charge a fortune to those people who simply cannot control money.
To log back in you have the temptation back again.
Maybe you feel boosted that Wonga appear to trust you as a good customer so maybe just another small loan as they are so friendly?

UsetheFORCE

Agree with you sharpy2010, Wonga and any PDL Loan are not generally an issue if you borrow say around £100 but anything more and you will set the wheels in motion for a very big crash further down the line.

OneLife_OneShot

I learnt my lesson with Wonga before I would rather drink water and eat beans for a few days than go near them again.

Jules2012

Off topic;

I think they should be called "Wonga lol" actually all PDL companies should have "lol" at the end of their name.

27col

sharpy2010 wrote: »

They're good for a couple of quid if you desperately need the money and can't get it elsewhere, but start borrowing anything of significance and even people with reasonable salaries would find it hard to pay back the loan!

Its always nice to have them as a last resort, but at the price they charge, it will always be a last resort :-)

No, it is not always nice to have them as a last resort. What is nice is the ability to manage your affairs properly, so that you always have a bit of cash put by, so as to be able to cope with sudden changes in your life, that affect your wallet. If you genuinely do not have any spare cash to put by for a rainy day, then how can you possibly manage to pay back the loan on the next pay day. Plus, of course, a wad of interest. The concept is a recipe for disaster.
They are lending money to people, who, almost by definition, will have trouble paying it back. If they weren't there then perhaps people might be forced to rethink their priorities as far as their finances are concerned.

katyfrandsen

These payday Loan companies are becoming a joke, its just one thing after the next. I'm sure its pretty well known wonga have a bit of a bad reputation, I cant undestand why people keep using them, if I was really in trouble Id go to a credit union myself - I know there not as convenient but a bit of commn sense would go a long. Wouldn't suprise me if Wonga started lending out higher amounts, think of the interest theyd make!!:mad:

sharpy2010

27col wrote: »

No, it is not always nice to have them as a last resort. What is nice is the ability to manage your affairs properly, so that you always have a bit of cash put by, so as to be able to cope with sudden changes in your life, that affect your wallet. If you genuinely do not have any spare cash to put by for a rainy day, then how can you possibly manage to pay back the loan on the next pay day. Plus, of course, a wad of interest. The concept is a recipe for disaster.
They are lending money to people, who, almost by definition, will have trouble paying it back. If they weren't there then perhaps people might be forced to rethink their priorities as far as their finances are concerned.

Well as far as I'm concerned its nice to have a further security net, and who are you to tell me that I can't control my affairs, as I certainly can. Having a further safety net is a peace of mind to me, thats my own opinion and may or may not be of interest to anyone else.

Don't be so rude to tell me that what I think is wrong.