Wonga use fake law firm

InsideInsurance

The FCA and PRA are both trying to show they have more teeth and are really kicking the tyres rather than just having friendly chats over lunch. Certainly not a bad thing at all for the industries they regulate.

As not all of the european regulators are toughening up I do wonder if we will start seeing, particularly for Insurance, more european providers offering their wares here under the Freedom of Services and being able to undercut domestic providers by not having such strict application of regulations.

Sinhanada

Anthorn wrote: »

gently.

What I find amazing is that people borrow money they can't afford to pay back and then stamp and scweam and scweam as they allege that they have been taken advantage of.

You borrow the money and you have to pay it back. End of story.

I agree the money needs to be paid back and that's what I did. However, you would expect that if you fall on hard times (As some of us do) you should be able to negotiate with the people you owe money too. All of the companies I dealt with withheld interest and charges while I was making payments and they've all been cleared. Forcing a doubling of the amount owed through charges (despite repeated pleas, letters, phonecalls) is unfair charges - and this is where the anger lies imo

fermi

Please continue on --> MSE News: Wonga to pay £2.6m after threatening borrowers with fake lawyers

fermi

Sinhanada wrote: »

This is the best article I have read! I actually still have the email they originally sent me: The problem being, I had been contacting them as I was on a DMP at the time and they refused to acknowledge it - hey ho! I for one am looking forward to what they offer! an initial £645 repayment ballooned over this amount!

Listen to

http://www.bbc.co.uk/programmes/b047c9xm

Starting at 6 mins in.