Wonga is a horrible little site

[BragaBlue]

If I want to borrow £1 for 1 day of Wonga, I would have to repay them £6.57 the next day

it should burn...

 

[Del]

Simple

Dont like it dont use it

 

[Furey1878]

All these type of sites are ridiculous mate, just legalised loan sharks.

 

[potato]

and i thought i was a stingy mingebag

 

[Deleted member 28206]

Genuine question. How are these sites legal?

 

[potato]

this is the reason why cisse is leaving newcastle

 

[Furey1878]

Genuine question. How are these sites legal?

No idea mate. I am certain they need to do one though.

 

[Goat]

Borrowing £100 + Interest & fees* £6.56 = Total to repay £106.56

Its cheaper to borrow a ton lad.

 

[Eric Djemba-Djemba]

Basically a loan shark

 

[Del]

Genuine question. How are these sites legal?

What are they doing wrong?

Someone with bad credit wants to lend money, They lend them it at a high intrest rate

If you dont like the terms dont borrow the money

 

[HSD]

Exactly why those kinda places shouldn't exist.

 

[Deleted member 28206]

What are they doing wrong?

Someone with bad credit wants to lend money, They lend them it at a high intrest rate

If you dont like the terms dont borrow the money

Exploiting people in vulnerable positions is wrong though. Some people have no choice, and that's what is wrong.

 

[ijjysmith]

As you may know I work in banking.

I have literally no idea how these companies get away with what they do.

 

[mpatton]

i'll lend you a £1 and all you have to pay back is a fiver if that helps?

 

[Del]

Exploiting people in vulnerable positions is wrong though. Some people have no choice, and that's what is wrong.

No choice in what? Lending the money?