Disclaimer: By posting on this web site it is accepted that you have agreed to our Terms. Please DO NOT publish copyrighted material/pictures without the owner’s permission, you are liable for any costs incurred.


Results 1 to 13 of 13
  1. #1
    Banned
    Join Date
    Aug 2008
    Location
    Berkshire
    Posts
    18,267
    Rep Power
    0

    Thumbs down Short term credit/payday lenders

    These outfits seem to be multiplying. Theres wonga.com that sponsor Blackpool FC, untold adverts on the TV and at the Morden Fiesta a company called Kabayan Finance was leafleting.

    Seems like legalised robbery.


  2. #2
    Respected Member South-east boy's Avatar
    Join Date
    Oct 2009
    Location
    Walderslade, Kent
    Posts
    1,284
    Rep Power
    71
    I guess a few hundred % interest?! Am surprise the government allow them as it only ends up causing more misery for people who are already short of money!


  3. #3
    Moderator
    Join Date
    Aug 2010
    Location
    Marikina City
    Posts
    26,785
    Rep Power
    150
    Straight from the wonga website:-


    Representative Example

    Amount of Credit £207 for 20 days
    Total Amount Payable £254.42

    Interest £41.92
    Interest Rate 360% pa (fixed)

    Transmission Fee £5.50
    Representative APR 4214%


  4. #4
    Banned
    Join Date
    Aug 2008
    Location
    Berkshire
    Posts
    18,267
    Rep Power
    0
    Quote Originally Posted by Terpe View Post
    Straight from the wonga website:-


    Representative Example

    Amount of Credit £207 for 20 days
    Total Amount Payable £254.42

    Interest £41.92
    Interest Rate 360% pa (fixed)

    Transmission Fee £5.50
    Representative APR 4214%
    Leeches


  5. #5
    Trusted Member
    Join Date
    Jul 2005
    Location
    Pangasinan
    Posts
    25,596
    Rep Power
    150
    It IS legalised robbery...and likely with menaces too.

    Another robbing bandwagon feeding yet more parasites and leeches, as with the compensation robbers etc.

    Ultimately it comes out of our taxes.


  6. #6
    Trusted Member stevewool's Avatar
    Join Date
    Feb 2010
    Location
    derbyshire
    Posts
    18,980
    Rep Power
    150
    i bet there making a killing these days, its a pity people cant managed there finances better,


  7. #7
    Respected Member Tawi2's Avatar
    Join Date
    Apr 2009
    Location
    South Cotabato.
    Posts
    9,137
    Rep Power
    150
    Its a good job they dont advertise this in Pinas,they would be snowed-under with people applying for the utang



    Sometimes you're flush and sometimes you're bust, and when you're up, it's never as good as it seems, and when you're down, you never think you'll be up again. But life goes on.
    The beauty of a woman is not in the clothes she wears, the figure that she carries, or the way she combs her hair. The beauty of a woman is seen in her eyes, because that is the doorway to her heart, the place where love resides. True beauty in a woman is reflected in her soul. It's the passion that she shows to the outside world.


  8. #8
    Trusted Member
    Join Date
    Jul 2005
    Location
    Pangasinan
    Posts
    25,596
    Rep Power
    150
    The 5/6 is mainly run by the Indians in the Phils, isn't it ?

    My (English) friend and his wife...well mainly his wife used to run such a business, along with an internet cafe, along with computer repairs, along with a rice store, along with duck and chicken raising, along with a movie-casting business... in fact anything to make some pesos.


  9. #9
    Administrator KeithD's Avatar
    Join Date
    Dec 2004
    Location
    Denbigh, United Kingdom
    Posts
    23,981
    Rep Power
    150
    Bookmakers are legal robbery, insurance is legalised robbery, banking is legalised robbery, etc, etc, they all need to make a profit. Companies like Wonga, and them specifically make it clear from the outset what the charges are, and it is up to the individual whether they agree to the terms or not. They supply are service for certain people as do the companies I mentioned earlier.

    A friend went overdrawn with the bank by 3p and got charged £30, a 1000% interest for 1 day
    Keith Driscoll - Administrator
    Managing Director, Win2Win Limited


  10. #10
    Respected Member tone's Avatar
    Join Date
    May 2011
    Location
    Northants
    Posts
    1,003
    Rep Power
    72
    Agree people should manage their finances better I think there is a limit to the amount you can borrow of £300?
    Nevertheless its disgusting the interest they charge!

    Tone


  11. #11
    Banned
    Join Date
    Aug 2008
    Location
    Berkshire
    Posts
    18,267
    Rep Power
    0
    Quote Originally Posted by tone View Post
    Agree people should manage their finances better I think there is a limit to the amount you can borrow of £300?
    Nevertheless its disgusting the interest they charge!

    Tone
    Mr Kabayan Finance offers "up to £800 today"

    http://www.kabayanfinance.co.uk/html/WhatYouThink.aspx

    on the "What you think" Page there's only the one entry

    Here are just a few comments from our customers…

    Great site, helpful staff and very good value for money.....
    Rob from Reading (May 2011)


  12. #12
    Trusted Member
    Join Date
    Jul 2005
    Location
    Pangasinan
    Posts
    25,596
    Rep Power
    150
    Quote Originally Posted by Dedworth View Post
    Mr Kabayan Finance offers "up to £800 today"

    http://www.kabayanfinance.co.uk/html/WhatYouThink.aspx

    on the "What you think" Page there's only the one entry

    Here are just a few comments from our customers…

    Great site, helpful staff and very good value for money.....
    Robbed from Reading (May 2011)


  13. #13
    Banned
    Join Date
    Aug 2008
    Location
    Berkshire
    Posts
    18,267
    Rep Power
    0


Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Similar Threads

  1. Replies: 55
    Last Post: 30th November 2013, 21:43
  2. Replies: 1
    Last Post: 26th April 2013, 13:49
  3. Replies: 1
    Last Post: 25th June 2008, 13:11
  4. A short short tail
    By reimori in forum Humour
    Replies: 1
    Last Post: 27th June 2007, 10:20

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

Filipino Forum : Philippine Forum