Wonga, The Mask Slips...

[sandyRoe]

Own them a few bob and they'll set the bailiffs on to you. It's a pity that usury isn't a criminal offence. Was it ever?

http://uk.finance.yahoo.com/news/wonga-tougher-bad-debtors-112706758.html

[mazie]

It was in the 8th century sandy

[craft1948]

It's also a relief for a lot of people that they stopped imprisoning debtors in the last century...............

[daffy654]

Why should they not chase people who owe them money? It is perfectly legal for them to do so.
The people who borrowed from them are to blame for not realising how much they would have to pay back if they defaulted.

[emmie]

i know some people get stretched for money and go to these types of companies, but they really shouldn't, robber barons the lot of them.
Though i can't remember the name of the company, one had an advertising banner inside a bus, i only clocked it quickly but did notice they had a 1734 percent apr, thought they had misplaced a decimal point.

[Baldric]

And the problem is?

[hc4361]

Wonga is one of the best pay day loan companies. They make it very clear how much it will cost you to borrow from them.

Even banks send bailiffs in and repossess houses when the debtor falls behind with his payments - why should Wonga be any different?

[sandyRoe]

Daffy, you could apply the same criteria to illegal moneylenders. The borrowers knew they might get a smack if they didn't keep up the payments on their loan. They knew what they were getting into.

[starone]

They always say how much the interest is, but unfortunately the people who are targeted do not understand the small print. They should have someone to advise them before they take that final step (fat chance).--------

[sandyRoe]

Shylock would blush at the interest they charge.

[emmie]

their advertising is very friendly, and must draw people in who need money quickly. However perhaps they are rather foolish in not looking at this clearly, and don't know how quickly the interests mount up, i took a loan from a bank once, and that was daylight robbery. But needs must at the time.

[ummmm]

Yep, I know a money lender, he slaps people weekly.

[sandyRoe]

Slapping them weekly is no good at all. That's hardly going to make them cough up.

[sandyRoe]

^ that should have been 'weakly'. And it still wasn't funny
sorry

[Baldric]

Sandy, given your answer at 15:56 what was the point of the OP?

[netibiza]

It's dreadful, I really fell for the dear old kind granny bit!!

[daffy654]

I would apply the same to illegal moneylenders Sandy. You know what you are getting into when you borrow off them so make damn sure you pay them back on time.

[starone]

The trouble is people are so naive. They do not realise that the next month they will be even worse off when they have to pay back the original loan. I despair of them, I really do. And it is these people who are being targeted.

[sandyRoe]

Baldric, I was likening the illegal moneylender who might resort to violence to the perfectly legal businesses that leech off the poor.

[Hopkirk]

Wonga are now the shirt sponsor for Newcastle United.

Their manager, Alan Pardew, said he expects his players to give 4010% effort to the game.

[netibiza]

Hopkirk, are the sliders on the pitch!!