Wonga

  Quickbeam 08:35 04 Oct 14
Locked

I'm surprised that no one has commented on Wonga this week.

Made to write off 330,000 debts, and this morning on the news there is talk of a maximum daily interest rate of 0.8% which woulld wipe out the business model of these barely legal (but morally corrupt) loan sharks.

  spuds 09:48 04 Oct 14

The laws regarding these type of companies should have been changed when all the misery was being found out.

All it needs now, is for Wonga or any similar company to go into administration, then start up under another name - problem solved for the director's and shareholder's.

  Aitchbee 19:52 04 Oct 14

On a slightly different subject, the poll tax debts of many thousands of Scots [non-payers], will soon be wavered, so it seems. [but this doesn't bode well, 'cos I can foresee a big hyke in local Council Tax bills just around-the-corner to make up for the shortfall] :o[

click here

  bumpkin 21:25 04 Oct 14

Same as anything else, some can't pay, some won't pay so everyone else has to pick up the bill.

  Quickbeam 09:17 05 Oct 14

HB, I heard someone on the radio the other day say that the unexpectedly high number of new electoral registrations from the disappeared poll tax dodgers is about to be used to track them down for those arrears!

  carver 09:34 05 Oct 14

I don't agree with the wav that Wonga works and the line between them and a loan shark is wavy to say the lease but when you get a comment from someone such as,

"I was allowed to exaggerate my income on the application forms. They weren't checked to be sure that I wasn't giving false information. I should never have been lent the money."

Isn't that a polite way to say that they lied, falsified information and really no one should trust them in the future.

But I suppose Wonga only have themselves to blame along with the other money lenders along with this governments policy of cutting benefits to people in need.

  Quickbeam 08:16 06 Oct 14

spider9

I was only relaying what I heard!

  wee eddie 10:46 06 Oct 14

Firstly: The Poll Tax Debt is to the Council, not the Government.

And: As these people paid no Rates either, during that period - They owe their Councils something.

As I paid all my Taxes at the correct time I find very little pleasure in allowing a number of malcontents and skinflints, who have had the use of that money for the last 20 or so years, getting away (excuse the Pun) Scot Free.

Secondly: I doubt that the Councils would have behaved any differently, had there been a "Yes" vote. Their finances are sorely stretched and they have been hunting around for any source of funds that they can utilise.

Considering the shortage of Councils of a Conservative nature, these Councils will have been, either SNP, or Labour. How does that stand up!

  wee eddie 12:30 06 Oct 14

Spider: read my lips.

I said that it was the Councils that were trying to collect.

That: most/all those Councils were either Labour or SNP.

That: those who had failed to pay the Poll Tax had not paid Rates, in lieu of the Poll Tax, either. So their Councils were out of pocket whichever way they looked at it.

That: had there been a "Yes" Vote, those very same Labour/SNP Councils would probably still have been trying to recover the money.

And finally: that those that refused to pay their Poll Tax have had the use of that money for 20, or so, years. Whereas the bulk of us Law Abiding Citizens have been out of pocket. If you were to take into account, accumulated interest over that 20 year period I am probably about £1200 worse of than someone who refused to pay.

That, to my mind, is even more unfair.

  wee eddie 12:33 06 Oct 14

Back to Wonga.

They have put their hand up and been castigated.

I await similar treatment to their Business Competitors who are no better, but I don't see it coming.

This thread is now locked and can not be replied to.

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