Ash4781 Posted February 3, 2013 Share Posted February 3, 2013 I thought by dirty tricks you meant "Former bankrupt star becomes face of 'designer' payday loan firm" I saw the advert the other day. Sad very sad. These loan companies are 'regulated' by the OFT who are totally useless (who have also just completed a petrol market investigation that's pissed off alot of people with the results). I think the OFT was also involved with Farepak savings scheme company collapse. Eventually I suspect these loan companies will have to be moved to being FSA (or bank of england by then) regulated at which point many of the companies will dissappear. http://www.thesun.co.uk/sol/homepage/features/4735804/kerry-katona-payday-loan-ad.html Quote Link to comment Share on other sites More sharing options...
Toto deVeer Posted February 3, 2013 Share Posted February 3, 2013 Something is going to blow here. There is a lot of cash swishing around in these industries, either this is a land grab phase and there is going to be a spectacular slew of business failures, or there is going to be civil unrest any minute now. Not sure which. I'm getting the same vib. There seems to be a money gusher developing in the top 1% of the population. Just a matter of time before it explodes across all levels of society as raging inflation, I fear. This is not going to be something gradual - it will happen overnight - literally. God help us if it does. Sadly I don't think that any of the politicians and central bankers realize how deadly this will be - for them. At least Britain has ready the appropriate infrastructure to deal with this - in the Tower of London. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 3, 2013 Share Posted February 3, 2013 There was one ad for payday loans for the unemployed.....how can the unemployed afford a loan let alone a payday loan.....the system has failed. Quote Link to comment Share on other sites More sharing options...
Toto deVeer Posted February 3, 2013 Share Posted February 3, 2013 There was one ad for payday loans for the unemployed.....how can the unemployed afford a loan let alone a payday loan.....the system has failed. Easy - you lend 250 principle - then let it build to 10,000 with interest after 6 mo - then you sell the note to Guido for 500 - making a cool 100% in six months - then Guido breaks legs to get whatever he can after that. He'll probably get a couple of hundred per finger - or a few hundred for a nose. Guido's risk is that every now and then he murders the customer - but that's just a risk of doing business these days. Quote Link to comment Share on other sites More sharing options...
winkie Posted February 3, 2013 Share Posted February 3, 2013 Easy - you lend 250 principle - then let it build to 10,000 with interest after 6 mo - then you sell the note to Guido for 500 - making a cool 100% in six months - then Guido breaks legs to get whatever he can after that. He'll probably get a couple of hundred per finger - or a few hundred for a nose. Guido's risk is that every now and then he murders the customer - but that's just a risk of doing business these days. Our leaders are immoral and incompetent if they freely and knowingly permit this practice to carry on unabated. Quote Link to comment Share on other sites More sharing options...
Ulfar Posted February 3, 2013 Share Posted February 3, 2013 Our leaders are immoral and incompetent if they freely and knowingly permit this practice to carry on unabated. You will probably find some of them are in it up to their neck. Quote Link to comment Share on other sites More sharing options...
Toto deVeer Posted February 4, 2013 Share Posted February 4, 2013 Our leaders are immoral and incompetent if they freely and knowingly permit this practice to carry on unabated. I think that one of Cameron's close connections is involved in Wonga.com. I suppose this is the reason that whoever wrote the bible made sure that there was a reference to Jesus throwing the moneylenders out of the temple. Quote Link to comment Share on other sites More sharing options...
rollover Posted February 4, 2013 Author Share Posted February 4, 2013 There was one ad for payday loans for the unemployed.....how can the unemployed afford a loan let alone a payday loan.....the system has failed. And one ‘Loans For Poor People’ It’s no secret that lenders have been known to target the people who can least afford to borrow money, but they are rarely explicit about it. “Easiest Cash Solutions Specially Designed For The Deprived”, shouts the website. “Apply and Enjoy An Instant Approval!” it adds lower down. “Since we understand how precious your time is, we do not follow any credit checking process on our applicants,” the website enthuses. We are not at all bothered about the way in which you are going to spend this money,” it assures readers, adding that borrowers can access loans of up to £1,500. It is hardly promoting responsible lending. Link Quote Link to comment Share on other sites More sharing options...
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