winkie Posted August 5, 2013 Share Posted August 5, 2013 Should someone who is in such desperate need that they end up with a high cost loan actually be offered one, since they're clearly already unable to pay? In theory, no-one who is short of money should ever be offered more debt - it's the very last thing they need. These loans are predatory, and designed to push people into a continuous debt spiral which is hard to escape. Yes....parasitic businesses....designed to suck the blood from the poor and needy. Link to comment Share on other sites More sharing options...
vlad the impaler Posted August 5, 2013 Share Posted August 5, 2013 So it's bloody obvious what anyone is getting themselves in to, they're not forcing anyone to use their services, they're not deceiving anyone, so what's the issue? So, we should legalise all drugs and prostitution then? Link to comment Share on other sites More sharing options...
Guest TheBlueCat Posted August 5, 2013 Share Posted August 5, 2013 So, we should legalise all drugs and prostitution then? Yes. Link to comment Share on other sites More sharing options...
Riedquat Posted August 5, 2013 Share Posted August 5, 2013 So, we should legalise all drugs and prostitution then? I feel "no" but I can't think of a convincing rational argument for not doing so, particularly one that doesn't just sound like "Nanny knows best, so be a good boy and only do what I say you can do." Link to comment Share on other sites More sharing options...
Ologhai Jones Posted August 6, 2013 Share Posted August 6, 2013 I have some cash sitting around and it's not earning anything. Have interest rates improved anywhere yet? It's getting frustrating. I heard all about Wonga.com and "payday loans" on the radio. It got me curious whether they are worth putting money into. Apparently these companies have a bad rep for their business model though (waiting for people to fail), and the Church of England intends to "compete them out of business" offering much lower interest charges for loans. Have you invested with them or similar? And would you admit it if you had? Can one invest in Wonga? If you can, then (fundamentally, at least) I assume it's not different than Zopa and similar. If not, where are they getting their money to lend from? Link to comment Share on other sites More sharing options...
vlad the impaler Posted October 25, 2013 Share Posted October 25, 2013 I am going to invest in the 'sell guns and mines for orphans' fund. Big profits, and it is not that different from investing in, say Amazon is it? They both sell things? Link to comment Share on other sites More sharing options...
MrPin Posted October 25, 2013 Share Posted October 25, 2013 You may be thinking of Zopa. Wonga has always been in the usury business as far as I can remember Yes, Wonga are fairly evil. I'm not sure why such things are allowed! Link to comment Share on other sites More sharing options...
okaycuckoo Posted October 25, 2013 Share Posted October 25, 2013 After the UKIP Bongbongo Land gaffe I was looking around for the origin of the new name for the UK, Wongawonga Land ... and found this from 2011 about the company's owner, up to his tits in Tory deregulation of employment rights: http://munguinsrepublic.blogspot.co.uk/2011/10/word-from-wonga-wonga-land.html No references in the article, so I can't vouch for its accuracy. Anyway, I think Wonga recently announced a change of direction into transaction processing. ps. I also like Treasure Island. Oooo arrr!. Link to comment Share on other sites More sharing options...
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