MSE News: Speedy Cash 'preying on kids' by offering 'photos with Santa'

blindio

the only 2 questions of that matter to speedy cash are

#1 is it legal to do this

#2 will it make profit,

they are literally the only things that matter to a business and if history is any indication #1 can be ignored if #2 is high enough or they think that they can get away with it, were i an elected official id limit how much interest you can charge on loans, as it stands theyre perfectly legal albeit loathesome businesses and i guess the staff are happy for the salary

Apples2

minislim wrote: »

clowns and ballon animals on offer most weeks.

They weren't gimmicks, that was the queue of customers

Pincher

If they are desperate for customers, hopefully it means the high street is already saturated with Pay Day Loan sharks. With the economy recovering, I expect a lot of them will turn into estate agents and financial advisers soon. so the rip off continues.

haynick

What is the point of this story MSE?
Christmas was a month ago - I doubt Santa is still hanging about speedycash.

WillyWonga

Payday loans are like hard drugs. The dealers offer them for virtually nothing then once your hooked you will go back for more at the full rate.

These companies prey on the single mums, unemployed who have a regular benefit income and once you took out your first loan (which was made to sound like it was easy to payback) you are trapped and is very hard to get out of.

America banned these companies and the big US Money Houses have diverted their attention over here. Its time the government here to take the same stance.

Sabbathdei

haynick wrote: »

What is the point of this story MSE?
Christmas was a month ago - I doubt Santa is still hanging about speedycash.

I suddenly realised that it's nearly February and Santa should be in bed....hmm maybe they forgot to post the story in December and are only now clearing out the files :rotfl:

Nice_Weather_For_Ducks

Ive seen a delivery van driver walking in Easter Bunny costumes.. watch out and dont fall for it.

Yes they look cute but its just an evil plan to entice your children in, and when you go in to retrieve your little cherubs BOOM youve got a £200 loan before you can say Easter egg!!

pmduk

If kids have parents who are unable to say no, they've bigger problems than payday loans.

Monkeyballs

I think this is still relevant because although it was seen in the run up to Christmas last year i can still be a discussion point now ahead of Christmas 2014! At least pointing it out means that it can be stopped ahead of the run up this year...

That said, as others have posted before me it really is a case of parents taking responsibility for their own lives and welfare of their kids plus if grooming is what they had in mind they are thinking well in advance as most kids I know over the age of about 8 wouldn't be seen dead having their pictures taken with Santa LOL.

I also think that the response from speedy cash is actually alright:

A spokesman for Speedy Cash says: "This is simply one of the many ways we seek to participate and contribute in our local communities.

"Similarly, we look to participate in local charity events like Tough Mudder (Help for Heroes), sponsor local youth football clubs, and raise money to support organisations like Children in Need, Manorlands, Nadia's Heart, and RSPCA.

"We do not seek to publicise our contributions. Instead, we prefer to simply help where we can. Our Photo with Santa event is not designed as a marketing/advertising event. It is intended to be an opportunity to share in our local communities, and show we are much more than simply a financial services provider."

Fact is that they are on the high street and they are a part of the community (for better or worse).

Also, the flyer doesn't say come in and get a loan as your kid has his picture taken - other than a company name there is no reference to money at all!

MB

Tiddlywinks

Am I the only one who is fed up with MSE constantly blaming the evil lenders rather than encouraging people to accept responsibility for their own decisions?

This company was offering a FREE visit and photo with Santa - very money saving actually, and should be applauded by this site.

People have free will - MSE, why can't you accept that?