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exasperated

Fleece The Desperate And Kick Them While They're Down

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Had an unsolicited email this morning from Red House Financial offering me a Payday Loan, up to £750.

I don't need their loan, but someone, amongst the hundreds of thousands/millions that they emailed might.

Typical APR? 1355% (thirteen hundred and fifty five)

Unbelievable.

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QuickQuid's is worse - 2356% APR! http://www.quickquid.co.uk/

They advertise on the telly, usually during dumbovision shows like Trisha and Jeremy Kyle.

Vultures! Or is that an insult to those large carrion bird?

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Vultures! Or is that an insult to those large carrion bird?

At least vultures prey on the dead and prevent disease, they exact opposite then! ;)

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QuickQuid's is worse - 2356% APR! http://www.quickquid.co.uk/

They advertise on the telly, usually during dumbovision shows like Trisha and Jeremy Kyle.

On some channels, it seems ALL the adverts are for loans, or compensation chasing!

Ocean Finance apparently now has it's own channel! :(

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Had an unsolicited email this morning from Red House Financial offering me a Payday Loan, up to £750.

I don't need their loan, but someone, amongst the hundreds of thousands/millions that they emailed might.

Typical APR? 1355% (thirteen hundred and fifty five)

Unbelievable.

Interest rates like that for a very short term loan to bridge a gap for a few days should (but doesn't seem to) convince people that they should do everything within their power as early as possible to be in a position where they can never really be short of a few quid in the short term -- and to remain in that position.

All it would take for most people is a couple hundred in a bank account/old jam jar. I find it almost completely impossible to understand why there's a market for a loan to tide people over till next payday... :huh:

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Interest rates like that for a very short term loan to bridge a gap for a few days should (but doesn't seem to) convince people that they should do everything within their power as early as possible to be in a position where they can never really be short of a few quid in the short term -- and to remain in that position.

All it would take for most people is a couple hundred in a bank account/old jam jar. I find it almost completely impossible to understand why there's a market for a loan to tide people over till next payday... :huh:

Yeah, these loans are a total rip-off and should be regulated with fairer interest rates

Probably a large percentage of people get caught in that situation at some time in their life. In my first few years at work I was always tapping Mum for a loan for train fares etc but she expected it to be paid back on payday.

That made me better at managing money later on though, apart from going out more in my teens and early 20's wages were low then. Only got to earn good money at 24 when I took up minicabbing (in the good days!)

I bet these shysters are doing a roaring trade now though.

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All it would take for most people is a couple hundred in a bank account/old jam jar. I find it almost completely impossible to understand why there's a market for a loan to tide people over till next payday... :huh:

Many people refuse to accept adult responsibility and regard their salary as pocket money which they then run out and spend on the adult equivalent of a big bag of sweeties.

The concept of putting money aside or self-denial would baffle them; and the only thing that makes them stop frittering money away is when nobody will lend them any more of it.

Payday loans are new source for them to carry on behaving like big kids. Let them be fleeced; running out of money is the only thing that will ever stop them.

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Payday loans are new source for them to carry on behaving like big kids. Let them be fleeced; running out of money is the only thing that will ever stop them.

Except that it doesn't necessarily stop them.

Many get further and further into trouble, then others (either directly or indirectly[1]) have to bail them out.

[1] Example of indirectly: they start nicking things.

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Guest absolutezero
On some channels, it seems ALL the adverts are for loans, or compensation chasing!

Ocean Finance apparently now has it's own channel! :(

Just like it was in the early 90s.

Anyone would think there was a recession on...

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