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Post by Tangerine Sherlock on Mar 28, 2012 13:23:46 GMT 1
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Post by yeoldetangerine on Mar 28, 2012 14:44:05 GMT 1
Only if they ban all alcohol, gambling, banking adverts.
This really does get me quite hot under the collar. The banks have brainwashed everyone to think APR is the only permissable measure of cost of credit, yet then slap on fixed penalties and charges which can make Wonga look cheap in % terms, and most certainly in £'s. The same people are quite happy to accept alcohol adverts, use of which is probably second only to smoking in direct cost, and gambling, we probably all know someone whos life has been wrecked.
Until any government builds a real social fund, which is instantly accessible for those in trouble short term, Wonga and their competitors will continue to fill a gap in the Market. Try asking Lloyds for £100 for 2 weeks, they will laugh at you.
Edited to add "and breathe" LOL
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Post by Tangerine Sherlock on Mar 28, 2012 16:13:27 GMT 1
Try asking Lloyd's for £100 for 2 weeks, they will laugh at you. Good point just looked at Lloyd's and it works out roughly as follows using the unsecured loan rate to the lowest possible personal loan available and even a planned overdraft worked out more. They could lend it you but would have to charge at 13.9% APR for the pleasure then of course the admin fee another £3 Pay back to Lloyd's £116.90 Pay pack to wonga £ £112.78 So who are the real cowboys ?
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