Wonga writing off all debts over 29 days in arrears.

[Mark E Smith]

http://www.theguardian.com/money/2014/oct/02/wonga-writes-off-customer-debt?commentpage=1

Non-enforceable apparently. Could accelerate their pulling out of the Mags sponsorship....

 

[neiluk1985]

Free money for 330,000 people who can't, or refuse, to take responsibility for their finances

 

[Flavonoids]

Free money for 330,000 people who can't, or refuse, to take responsibility for their finances

Lent the money by a company that did it regardless of the persons obvious inability to repay.

It doesn't affect me, so I can't really get bothered about it, certainly not envious that someone with no money still has no money but doesn't have to pay back a ridiculous amount of money they don't have because of Wonga's dodgy practices.

 

[Harry Angstrom]

Free money for 330,000 people who can't, or refuse, to take responsibility for their finances

The interest rate is sufficient compensation for Wonga. The reason they charge the interest is because their punters are high risk.

The interest rates are for small periods and if people default they are unlikely to be able to pay 4000%.

Seems a good compromise.

 

[Mark E Smith]

Free money for 330,000 people who can't, or refuse, to take responsibility for their finances

They've made f***ing millions on the back of legalised extortion.

 

[Parkmaverick]

Free money for 330,000 people who can't, or refuse, to take responsibility for their finances

@Dave Herbal likes this.

 

[Gonzo Mackem]

Well done FCA.

 

[spitfire]

They shouldnt be allowed to operate anyway. f***ing disgusting concept.

 

[Flavonoids]

They should be allowed to operate anyway. f***ing disgusting concept.

I disagree and agree.

 

[errant]

certainly not envious that someone with no money still has no money but doesn't have to pay back a ridiculous amount of money they don't have because of Wonga's dodgy practices.

nailed it...

 

[spitfire]

I disagree and agree.

You could have telt us I fucked up

 

[Flavonoids]

You could have telt us I fucked up

I don't have the time

 

[chunkyshanhawk53]

Lefties upset by capitalism again

 

[neiluk1985]

They've made f***ing millions on the back of legalised extortion.

Absolutely, so I've got no sympathy for them either. What did they expect would happen, lending out all that money to people who couldn't get credit anywhere else??

 

[ajthemackem]

Vultures who prey on the desperate. They can fuck off.

 

[PTR]

That'll just encourage even more people to take out loans to buy things they don't need and can't afford.

 

[Cockney Mackem]

Lefties upset by capitalism again

I know, it's like when black people go on about slavery, they only ever seem to focus on the negative side, there's no balance.

 

[KeefBeer]

I know, it's like when black people go on about slavery, they only ever seem to focus on the negative side, there's no balance.

???

 

[Top Of The Goths]

The day Wonga took over sponsorship of the mags I took out a small loan which I immediately paid back.

The next day I took out a f***ing whopper and fucked it off to show all the *****.

What a victory this is for me personally and the whole SAFC family

 

[Cockney Mackem]

???

I was being sarcastic.