These outfits seem to be multiplying. Theres wonga.com that sponsor Blackpool FC, untold adverts on the TV and at the Morden Fiesta a company called Kabayan Finance was leafleting.
Seems like legalised robbery.
Short term credit/payday lenders
These outfits seem to be multiplying. Theres wonga.com that sponsor Blackpool FC, untold adverts on the TV and at the Morden Fiesta a company called Kabayan Finance was leafleting.
Seems like legalised robbery.
I guess a few hundred % interest?!Am surprise the government allow them as it only ends up causing more misery for people who are already short of money!
Straight from the wonga website:-
Representative Example
Amount of Credit £207 for 20 days
Total Amount Payable £254.42
Interest £41.92
Interest Rate 360% pa (fixed)
Transmission Fee £5.50
Representative APR 4214%
LeechesOriginally Posted by Terpe
It IS legalised robbery...and likely with menaces too.
Another robbing bandwagon feeding yet more parasites and leeches, as with the compensation robbers etc.
Ultimately it comes out of our taxes.
i bet there making a killing these days, its a pity people cant managed there finances better,
Its a good job they dont advertise this in Pinas,they would be snowed-under with people applying for the utang
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The 5/6 is mainly run by the Indians in the Phils, isn't it ?
My (English) friend and his wife...well mainly his wife used to run such a business, along with an internet cafe, along with computer repairs, along with a rice store, along with duck and chicken raising, along with a movie-casting business... in fact anything to make some pesos.
Bookmakers are legal robbery, insurance is legalised robbery, banking is legalised robbery, etc, etc, they all need to make a profit. Companies like Wonga, and them specifically make it clear from the outset what the charges are, and it is up to the individual whether they agree to the terms or not. They supply are service for certain people as do the companies I mentioned earlier.
A friend went overdrawn with the bank by 3p and got charged £30, a 1000% interest for 1 day
Keith - Administrator
Agree people should manage their finances better I think there is a limit to the amount you can borrow of £300?
Nevertheless its disgusting the interest they charge!
Tone
Mr Kabayan Finance offers "up to £800 today"
http://www.kabayanfinance.co.uk/html/WhatYouThink.aspx
on the "What you think" Page there's only the one entry
Here are just a few comments from our customers…
Great site, helpful staff and very good value for money.....
Rob from Reading (May 2011)
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