Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
FYI....................
OFT Criticise Wonga Debt Recovery Methods
High-profile money lending firm Wonga has been criticised by the Office of Fair Trading for
using aggressive and misleading debt collection methods.
Allegations had been made that Wonga staff had tried to collect some debts by suggesting
the defaulting customers had committed criminal acts and might be reported to the police, it said.
The improper pressure was applied in letters, emails and phone calls.
Wonga said it would appeal against the OFT as the incidents had been isolated and had taken
place a long time ago.
The OFT insisted that Wonga should not indulge in this sort of behaviour again, or it would
face fines of up to £50,000............more to follow if you continue to defend these lowest of the low
elite greedy ``businessmen``.................``
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
is £50,000 enough
in fact will it get that far
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Who's defending them Reg?
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Whos dragging there feet more like
and is it in there interest to do anything
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
# 20 plus others ................*****, you have a wonderful and socially acceptable business opportunity
here, lending money to people with poor credit ratings at low rates. Everyones a winner - ******
keep wriggling,you will tie yourself up in nots
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Far from it Reg, this very straightforward.
Individuals enter into a contract being aware of the implications, in this case if you default on the loan.
You seem to think that what Wonga are doing is wrong, I'm simply saying that you should undercut Wonga - the consumer is delighted and you make some money.
What's not to like Reg?
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
ask the borrowers.........................keep wriggling.......... your like a salmon I once caught...
..........had to hit him on the head with a hammer .....................
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Reg I understand you have a commercial background?
Can you see a gap in the market here, banks won't touch them, Wonga rip them off, why don't you step in halfway?
Threats of violence won't deter me Reg, there's only one person wriggling here
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,895
If I am allowed to interrupt the bickering
There are those out there who for one (possibly justified) reason or another have to borrow from these loan companies as there is nowhere else to go. When they find they have problems with their repayment plan they take out yet another loan, this is what should be stopped.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Oh no, no, no, no, no! We, the world and his pet hamster, have got this all wrong...
Who really uses payday loans?
http://uk.finance.yahoo.com/news/who-really-uses-payday-loans-083044214.html
...apparently.
Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
sounds a lot more kosher than the big bloke with tattoos and a strange looking dog that arranges finance around my way tom.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
# 48..everyone and his brother and sister are against the Wonga`s of this world.
Even BW and the ``Few`` have left you on your own********I do not want to defend pay-day loans,
I hate the concept and ultimately they are best avoided. ********
Your on your own........no violence the keep net is waiting.....................
Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Reg are you being deliberately obtuse or shall I assume something else?
Wonga are a legal, legitimate business who's customers use them voluntarily.
If you stop people borrowing money what will be the consequences?
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i think reg is doing what he always accuses me of doing.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
An indebted populace will become enslaved to debt, will be prepared to work for less money just to pay the debts, and thus enable the rich to get richer.
Through debt - Public Debt - countries become enslaved to foreign money-lenders (see Greece).
And individuals become enslaved to "the system".
Their rights will diminish and disappear.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
that would mean growth opportunities for big blokes with tattoos that go about with strange looking dogs alex.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Is it legally right that a repo can address people with a string of f words?
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
on the elite pigs thread it is asked the going rate for these loans
well heres Wonga's
APR 5,853%
£100 paid back in 3 days costs £8-67(£108-67)
£100 paid back in 4 days costs £9-72 £100 paid back in 5 days costs £10-78
£100 paid back in 28 days costs £35-04
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Squeezing blood out of a stone.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
# 58 ...is for David `the proletariat plight disbeliever .....# 20....***at low interest rates,***