credit union loans for xmas

Amummy

Just wondering if anyone got paid out from wonga? heard they were writing off loans if you couldnt pay?

ElkyElky

redcard wrote: »

Interesting point of view, if a bit bonkers. I don't think you've really thought it through.

Who is benefitting from all your credit card usage? Certainly not the homeless

Not sure how credit cards I've listed in my signature is relevant? The signature hasn't been updated in quite some time, all but two have ceased to exist - still, I'm unsure how that is relevant to getting a loan to pay for Christmas?

redcard

ElkyElky wrote: »

Not sure how credit cards I've listed in my signature is relevant? The signature hasn't been updated in quite some time, all but two have ceased to exist - still, I'm unsure how that is relevant to getting a loan to pay for Christmas?

I just wasn't sure how you reconciled your disdain for people buying Christmas presents with loaned money with your overwhelming support of the banking system which fuels behaviour 4 million times worse.

dealer_wins

Amummy wrote: »

Just wondering if anyone got paid out from wonga? heard they were writing off loans if you couldnt pay?

They wont pay you out anything, they will just (wrongly IMO) cancel any outstanding balance and repayments.

ElkyElky

redcard wrote: »

I just wasn't sure how you reconciled your disdain for people buying Christmas presents with loaned money with your overwhelming support of the banking system which fuels behaviour 4 million times worse.

One could have all the credit and charge cards in the world yet owe not a single penny of debt or pay a single penny of interest. I benefit more from the banks than they do from me, with purchase protection, insurance and the other perks that accompany my Amex charge (which consequently, is my preferred choice over debit).

That being said, I do pay an annual fee for the Amex although the travel inconvenience insurance and purchase protection has more than made that fee worthwhile.


It's just madness considering getting in to debt for Christmas. Yes, we all want to give the latest and greatest gadgets to our family but is it worth being saddled in debt to pay for it all? As another poster pointed out, we all know the date Christmas falls on so why not plan ahead? Begin planning for next year right now so another loan next year isn't necessary.

whitesatin

Whilst I don't agree with getting into debt for Christmas, I can sympathise with families feeling the pressure to keep up with others. The children are constantly bombarded with images of what Christmas presents they could have. Being children, they have no idea, usually, that items have to be purchased. I understand that it is hard for families these days.

I have no loans, pay off my credit card and manage to save every month. In that I know I am fortunate but I have not always been this comfortably off.

I opened a credit union savings account today, out of curiosity really, and whilst I don't agree with my money being lent out to buy Christmas presents, it is up to the borrowers to decide that in the end. As long as they pay it back, it is their choice. If I invested in a building society, I would be none the wiser about what my money was being used to buy.

Anoneemoose

I have to say, try not to borrow. Work out a budget and scour charity shops, pounds shops etc.

My husband insists on spending ridiculous amounts on our kids at christmas and they also get presents off my family and his. They are literally overwhelmed. My MIL goes mad on them and I hate to admit it, half the stuff sits unused (I often pass things to charity and they don't realise).

Don't get me wrong, my kids aren't spoilt, nor do they expect big, expensive things (though they have been lucky to get such things in previous years). But I am really and truly stuck as to what to get them this year and it saddens me because it means we will buy for the sake of buying. I wish I could convince my DH to cut the budget but he thinks the bigger the pile (of tat), the better. Also, my MIL constantly buys them stuff throughout the year.

Your kids honestly won't mind frugal and there are many ways in which you can make it magical and special for them. You should look at the old style thread for ideas.

bbfc

Amummy wrote: »

Just wondering if anyone got paid out from wonga? heard they were writing off loans if you couldnt pay?

They're not PAYING OUT, they are writing off.

DCFC79

mama.a wrote: »

hello

im wondering if any one knows much about credit union loans
iv been with credit union for a year and half
iv had 3 loans and my next loan is due around the end of November
any way im really needing a loan for Xmas
and i don't no if im going to get it in time because some people are saying theres a time limit to apply for one around Xmas
im with south Yorkshire credit union
and because iv never missed a payment on my loans im still worried
they will turn me down its a big worry because it will be so close to Christmas when i apply and i don't want to be let down

can any one tell me how they actually work and would they turn me down so close to Christmas even though iv never missed a payment

thanks

You dont need a loan for xmas

Amummy wrote: »

Just wondering if anyone got paid out from wonga? heard they were writing off loans if you couldnt pay?

Cant answer but you would have been better off either starting your thread or searching the forums for an answer.