Quote:
Originally Posted by tommiasfc
I'm sorry but as Niel said they cost allot less than bank charges, I was on the side of these companies being ridiculous until somebody I know told me they've used them and its saved them over £100 in bank charges. When you look at out that way they're doing a good service. If you fail to pay it back its your own fault, you should weigh up the risk before taking it out. Its a simple process and its all there in black and white.
If you use these places for anything other than paying a bill before payday like buying something then you deserve the huge Apr in my opinion.
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Quite right tommi, if they are used in the correct way, but a lot of people who can't manage their finances fall into the trap and it makes things worse than ever and sends them deeper into debt, they say in adverts that stringent checks are carried out to make sure those given these loans are capable of paying the money back, but when somebody like Wonga say you can have the money in your account in 15 minutes, there ain't a lot of checking going on there is there
