Oft To Investigate Payday Loans Market

[mikey4444]

http://www.guardian.co.uk/money/2013/jun/27/payday-loans-competition-inquiry-oft.

The Competition Commission say that it expects its investigation to last 18 months. I'm not sure why its going to take so long ? How long does it take to ask the following question ::: "How much APR does your company charge" ?

WONGA, the one with the ludicrous childish advert, that is on the telly every single night charge over 5000 % ! These companies are no better than loan sharks. I'm puzzled why they are allowed exist in the first place.

[ToraToraTora]

"I'm puzzled why they are allowed exist in the first place. "

They exist because of human stupidity.

[ToraToraTora]

Mikey4444 you have outrage at the lenders the government anyone really except the life blood of these parasites, ie the eejits that borrow from them. Do they carry any responsibility in your eyes?

[jake-the-peg]

You might wonder why with all this money going to the Tories why this investigation is starting

Is it because they are incooruptible and concerned with the welfare of people in this country?


Or is it because the EU has given them a kick up the behind and made them do it?


http://www.mummymoneymatters.com/2013/06/eu-steps-in-to-tackle-payday-lenders/

//A report by the European Parliament’s Committee on the Internal Market and Consumer Protection, has called on the government to start tackling rip-off payday day lenders,//


Damn EU interference eh?

[bibblebub]

Various councils and universities are now banning payday loan adverts and, hopefully, many more will join them.

[jake-the-peg]

Tora you can aim exactly the same argument at drugs dealers

They exist because of human stupidity.

Do the users carry any responsibility

We don't tolerate drugs dealers getting rich off of the weakness and pain of others - what's the difference?

[ToraToraTora]

no difference except the legality I suppose.