Wonga Have Always Been Dodgy But I Didn't Realise How Badly Until Today

[mikey4444]

http://www.bbc.co.uk/news/business-28015456

Anybody still want to defend these shysters any more ?

[mikey4444]

Oh yes C+J, many times.

[mikey4444]

Watch this space fender, as I don't think they will for much longer.

[naomi24]

Charging extortionate interest rates is one thing - their customers are aware of that before they take loans - but this really is disgraceful.

[jno]

the company gave up doing this some years ago

[naomi24]

No excuse. They did it.

[weecalf]

those adverts where the don't use real people scare me.

[mikey4444]

I agree naomi. But the difficulty with shysters like Wonga, is that when their central business plan is so disgraceful in the first place, we shouldn't be surprised when they caught out breaking the law in every other way as well.
Snakeoil salesmen, every one of the them.

[jno]

not an excuse for past behaviour, naomi but the OP says "Wonga have always been dodgy". Maybe for the last four years they haven't?

It's like saying Ryanair have always been dodgy because (until the wicked EU superstate stopped them) they used to mislead people about where their airports were. Does that mean they're still dodgy, years later?

[youngmafbog]

Well Wonga are not totally the bad ones. If people paid the debts they signed up for then they would not have got the letter.

This happened 3-4 years back, they have cleaned up their act so what is your problem?

Perhaps you prefer the old loan shark on the doorstep breaking bones instead of sending fake solicitors letters?

[mikey4444]

No, of course I don't ymb. But this company continues with sharp practise, until it is found out. They are shysters, and that is what shysters do. This latest information shows that they are also fraudsters. Leopards are not know for changing their spots.

[Mick-the-Miller]

These companies like Wonga and other payday loan people are completely immoral and prey on the weakest members of Society.

How they can be allowed to charge thousands of per cent is beyond me - surely the Government can't be happy with this situation?

I propose a maximum allowable percentage of 100%

[naomi24]

jno, I understand what you’re saying, but if they’ve behaved like this in the past, doubt must be cast upon their integrity. (I’ve always thought Ryanair was dodgy).

Mikey, //this company continues with sharp practise, until it is found out.//

That's inaccurate. It hasn't continued and it didn't stop when they were found out - it stopped four years ago.

[Gromit]

Sounds like they got off lightly.

Impersonating a solicitor is a crime punishable by a £2,500 fine. If they send out 45,000 bogus letters that comes to fines of £112.5million and a criminal record.

Being ordered to pay £2.6million and no criminal record is a mere rap on the knuckles.