Quote:
Originally Posted by Neil
You enter into a contract with them to pay it within a certain time.
Just did a Wonga and £100 for 7 days will cost you £112.78. That's only £12.78 profit for them which includes their costs and the risk they take that you will pay it back.
How much do you think they should charge you for borrowing £100 for a week?
Would you be more happy if they charged you a lower APR but charged an administration fee?
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These firms have only come on the market quite recently in real terms, why, because they know that people these days don't care about how much debt they're in, the idea is not to put yourselves in that position in the first place