We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
Contact Forum Editor

Send an email to our Forum Editor:

PLEASE NOTE: Your name is used only to let the Forum Editor know who sent the message. Both your name and email address will not be used for any other purpose.

Speakers Corner

It's free to register, to post a question or to start / join a discussion


Wonga's profits exceed all expectations


Likes # 0

Well, would you credit it! Well no I wouldn't, as tighter financial constraints lead some hard-pressed consumers to take out loans with this and other cash loan companies. Hoping desperately to pay back this short-term loan in time to avoid, as in this case, an eye-boggling typical annual percentage rate (APR) of 4,214 per cent! money lenders

I remember my daughter years ago getting into problems with credit cards. She was using each card alternatively to pay off the other but her debt figures always increased month on month. We were obliged to settle up her debts with the stern proviso that she tore up her cards and would pay us back as she could afford. Taught her a severe lesson in the pitfalls of getting into unaffordable debt.

What is happening to some now far exceeds the situation my daughter was in all those years ago. I do hope the vast majority manage to pay back their loans on time, possibly with the help of family. I hope too that their circumstances change where they become financially self-supporting again. TC.

Like this post

Likes # 0

"In my younger days overdrafts just weren't available to most people, and it was a bit of a stigma to go into the 'red',"

Still is with me.

The only time it happens is because of bad forecasting on my part, like a magazine DD becoming due the day before my pension goes in.

Luckily my bank allows me free overdraft facilities to cover these small glitches, they only happen once or twice a year.

(Yes, I know my "free" overdraft is paid for by low interest rates on my current account, but at least I don't pay an exorbitant £20 a day or similar!)

Like this post  

Reply to this topic

This thread has been locked.

IDG UK Sites

LG G4 launch live blog: What to expect from the LG G4 launch

IDG UK Sites

Apple Watch release day: Twitter reacts

IDG UK Sites

Doctor Who scoops VFX gong at BAFTA TV Craft Awards

IDG UK Sites

Apple Watch buying guide, price list & where to buy today: Which Apple Watch model, size, material,?......