Payday Loan issue

steveh31

foxy-stoat wrote: »

Do they need to check your information when they have your completed online application saying the information you have input is true and to the best of your knowledge for a loan of £200?

Clearly as people can get money on false information surely you can see this is a problem if people can just go "hey yeah I earn £3000 a month can I have some money from you" and they go "that's fine here it is".

Do you not see a PPI style ticking timebomb there?

I have to give Wonga some praise at least they used to ask for details and said sorry you do not qualify for a loan at the present time.

steveh31

foxy-stoat wrote: »

Who IS this someone? Do they know anything about financial conduct regulations and the law?

post #7 if you look back

AndyPix

steveh31 wrote: »

my issue is who is in the wrong here, me for being able to type in any info I want on a form unchallenged or the company for giving me the money?

You - you are absolutely in the wrong for committing fraud on your application.


The world has gone mad

steveh31

AndyPix wrote: »

You - you are absolutely in the wrong for committing fraud on your application.


The world has gone mad

Yes I am wrong but are they not in the wrong for giving me money without checking for 10 years?

AndyPix

I'm lost for words - this thread is insane

steveh31

AndyPix wrote: »

I'm lost for words - this thread is insane

so much for the "be nice to all money savers" caption at the top clearly you just want to be rude to someone today, if that's how you feel your choice.

You cannot see an issue with a company lending money to someone they don't do checks on then let's close the thread.

AndyPix

I'm not trying to be rude


I just can't wrap my head around the fact that you are complaining that a company that you have lied to , have lent you money based on that lie.


It's bizarre

Surely this company helped you ? What would you have done had they not lent money to you ?

(The caption doesn't say be nice to all fraudsters BTW)

steveh31

AndyPix wrote: »

I'm not trying to be rude


I just can't wrap my head around the fact that you are complaining that a company that you have lied to , have lent you money based on that lie.


It's bizarre


(The caption doesn't say be nice to all fraudsters BTW)

You can't wrap your head around the fact that maybe a single mother of 5 on benefits could get a large loan from a payday lender and tell them lies to get it, or someone who has been sacked from a decent paying job could go to this company and lie to them to get money with no means of repayment?

The company has a responsibility as well to ensure it lends to people who can repay it with interest surely?

AndyPix

steveh31 wrote: »

You can't wrap your head around the fact that maybe a single mother of 5 on benefits could get a large loan from a payday lender and tell them lies to get it, or someone who has been sacked from a decent paying job could go to this company and lie to them to get money with no means of repayment?

I can wrap my head around all of that - Just not the fact that they would then complain about it - as i said, surely the company helped you out by loaning you the money :huh:

steveh31

AndyPix wrote: »

I can wrap my head around all of that - Just not the fact that they would then complain about it - as i said, surely the company helped you out by loaning you the money :huh:

If you have ever had a payday loan you will know the worst feeling is on pay day when you look at your bank account and see that you have already lost some of your wages just paying the interest and that the loan is still virtually in tact. I am glad I don't have one anymore but I still think they should check before they issue.

My account currently shows they will lend me £700 if I want right now and I could click and take it but I would end up with interest paying more than I earn per month in just 1 minute from now.

The companies should be forced to check your eligibility every 3 months maybe.