Why would anybody borrow from Wonga or other payday lender?
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Desperation.
I have used it myself a few times, the interest is steep yes, but it's saved my ass in hard times before.
I have used it myself a few times, the interest is steep yes, but it's saved my ass in hard times before.
I've borrowed from them. Paid on time but also have defaulted because of money issues.
Posted from TSR Mobile
Posted from TSR Mobile
This is what BBC says about Wonga
http://www.bbc.com/news/business-28015456
http://www.reddit.com/r/UKPersonalFinanceTips/
I think these firms have practices which may not be good as per the general opinion.
http://www.bbc.com/news/business-28015456
http://www.reddit.com/r/UKPersonalFinanceTips/
I think these firms have practices which may not be good as per the general opinion.
Because of things like benefit sanctions, given for tiny or invented infractions, which mean people cannot get to the end of the month, nor hope to plan their household finances properly, even in the unlikely event that they are receiving enough to live on in the first place.
Also poor people cannot afford household repairs, replacements for white goods (and remember poor people live in terrible-quality accommodation). Are you supposed to sit there while your home floods and survive on air while your cooker is broken?
In the surveillance society and with forensic technology, people will get themselves into debt with Wonga before they steal, and certainly before they starve to death.
It comes as no surprise that Adrian Beecroft, a major investor in Wonga, donates regular sums to the Conservative party and has written policy at their invitation (the Beecroft report) in support of no-fault dismissal. Elsewhere in Europe, "businesses" like Wonga would be subject to tightly controlled regulations if not outright proscription. In Britain, they flourish under the lax regulatory environment which the "business-friendly" Tories have happily provided in return for the measly £600,000 they have received in donations from Beecroft.
This is the way Britain is governed in the modern era.
Also poor people cannot afford household repairs, replacements for white goods (and remember poor people live in terrible-quality accommodation). Are you supposed to sit there while your home floods and survive on air while your cooker is broken?
In the surveillance society and with forensic technology, people will get themselves into debt with Wonga before they steal, and certainly before they starve to death.
It comes as no surprise that Adrian Beecroft, a major investor in Wonga, donates regular sums to the Conservative party and has written policy at their invitation (the Beecroft report) in support of no-fault dismissal. Elsewhere in Europe, "businesses" like Wonga would be subject to tightly controlled regulations if not outright proscription. In Britain, they flourish under the lax regulatory environment which the "business-friendly" Tories have happily provided in return for the measly £600,000 they have received in donations from Beecroft.
This is the way Britain is governed in the modern era.
Original post by scrotgrot
In the surveillance society and with forensic technology, people will get themselves into debt with Wonga before they steal, and certainly before they starve to death.
In the surveillance society and with forensic technology, people will get themselves into debt with Wonga before they steal, and certainly before they starve to death.
Are you really suggesting it's societies fault they get into debt for not allowing them to steal!
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Original post by mjohnson29
Are you really suggesting it's societies fault they get into debt for not allowing them to steal!
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Posted from TSR Mobile
Are you serious? What else is one supposed to do if not receiving enough money to live on?
Oh yes, of course, I forgot, roll over and die. Poor people aren't really people, after all, are they?
And yes, it bloody well is society's fault that some people have no support and might have to get in debt or steal. It's the fault of the individualist, amoral society which neo-liberalism has produced.
(edited 9 years ago)
Original post by scrotgrot
Also poor people cannot afford household repairs, replacements for white goods (and remember poor people live in terrible-quality accommodation). Are you supposed to sit there while your home floods and survive on air while your cooker is broken?
a.
Also poor people cannot afford household repairs, replacements for white goods (and remember poor people live in terrible-quality accommodation). Are you supposed to sit there while your home floods and survive on air while your cooker is broken?
a.
I know its a generalisation but a vast number of those alleged "poor" live in very high quality accommodation provided by local authorities and housing associations many of which are brand new and beyond the financial reach of many working people.
The real poor are the working poor, those on low wages who are entitled to little or nothing and have to pay for everything.
Whilst they slog on paying a mortgage on some draughty victorian terrace in a rough area, some baby breeding chav and her pot headed sire are living it up in a nice modern housing association property with not a care in the world.
Drive round any such estate in this nice weather we are having and during the day (whilst the rest of us are working) they will be having a lovely relaxed day in the garden on their sun loungers whilst their brood paddle in the pool or bounce away in their lobster pot trampoline.
The heady aroma of cannabis fumes can oft be smelled wafted on the breeze..little Tyson the family Staffie, yapping happily away at passers by..
Here is a view of one such estate in Manchester
https://goo.gl/maps/H7E0l
Up until about 6 years ago this area was all traditional victorian terraces. They were once proud working class family homes. The Thatcher era and the rise of the buy to let landlord caused the area to be polluted with scum who gradually drove out the decent people. In time the houses stood empty boarded up.
Mr Prescotts pathfinder scheme empowered the forced eviction of the remaining home owners and they were compensated with a pittance.
The land was sold to developers for cheap rates. The secret deal was that developers had to bild social and private housing. They had to be all the same high spec so that the social tenants were not stigmatised or marginalised.
Meanwhile private buyers, largely unaware of this secret social experiment, also bought properties for top dollar prices as this place is very close to the city centre.
So now we have dole hoppers and baby breeders living in high spec homes and waving off the workers every morning so that they can pay their hefty mortgages to live beside people who dont work.
(edited 9 years ago)
Original post by Limpopo
I know its a generalisation but a vast number of those alleged "poor" live in very high quality accommodation provided by local authorities and housing associations many of which are brand new and beyond the financial reach of many working people.
The real poor are the working poor, those on low wages who are entitled to little or nothing and have to pay for everything.
Whilst they slog on paying a mortgage on some draughty victorian terrace in a rough area, some baby breeding chav and her pot headed sire are living it up in a nice modern housing association property with not a care in the world.
Drive round any such estate in this nice weather we are having and during the day (whilst the rest of us are working) they will be having a lovely relaxed day in the garden on their sun loungers whilst their brood paddle in the pool or bounce away in their lobster pot trampoline.
The heady aroma of cannabis fumes can oft be smelled wafted on the breeze..little Tyson the family Staffie, yapping happily away at passers by..
Here is a view of one such estate in Manchester
https://goo.gl/maps/H7E0l
Up until about 6 years ago this area was all traditional victorian terraces. They were once proud working class family homes. The Thatcher era and the rise of the buy to let landlord caused the area to be polluted with scum who gradually drove out the decent people. In time the houses stood empty boarded up.
Mr Prescotts pathfinder scheme empowered the forced eviction of the remaining home owners and they were compensated with a pittance.
The land was sold to developers for cheap rates. The secret deal was that developers had to bild social and private housing. They had to be all the same high spec so that the social tenants were not stigmatised or marginalised.
Meanwhile private buyers, largely unaware of this secret social experiment, also bought properties for top dollar prices as this place is very close to the city centre.
So now we have dole hoppers and baby breeders living in high spec homes and waving off the workers every morning so that they can pay their hefty mortgages to live beside people who dont work.
The real poor are the working poor, those on low wages who are entitled to little or nothing and have to pay for everything.
Whilst they slog on paying a mortgage on some draughty victorian terrace in a rough area, some baby breeding chav and her pot headed sire are living it up in a nice modern housing association property with not a care in the world.
Drive round any such estate in this nice weather we are having and during the day (whilst the rest of us are working) they will be having a lovely relaxed day in the garden on their sun loungers whilst their brood paddle in the pool or bounce away in their lobster pot trampoline.
The heady aroma of cannabis fumes can oft be smelled wafted on the breeze..little Tyson the family Staffie, yapping happily away at passers by..
Here is a view of one such estate in Manchester
https://goo.gl/maps/H7E0l
Up until about 6 years ago this area was all traditional victorian terraces. They were once proud working class family homes. The Thatcher era and the rise of the buy to let landlord caused the area to be polluted with scum who gradually drove out the decent people. In time the houses stood empty boarded up.
Mr Prescotts pathfinder scheme empowered the forced eviction of the remaining home owners and they were compensated with a pittance.
The land was sold to developers for cheap rates. The secret deal was that developers had to bild social and private housing. They had to be all the same high spec so that the social tenants were not stigmatised or marginalised.
Meanwhile private buyers, largely unaware of this secret social experiment, also bought properties for top dollar prices as this place is very close to the city centre.
So now we have dole hoppers and baby breeders living in high spec homes and waving off the workers every morning so that they can pay their hefty mortgages to live beside people who dont work.
Um, you do realise the working poor get tax credits and other benefits that tail off and mean that they are never worse off than those not working? And anyone on such a low wage isn't paying a mortgage because they would never have been given one by the bank.
Until homeowners on PAYE give up their pathetic delusions of grandeur and realise they are just as much serfs as council tenants on benefits, the elite will continue to profit from all of us. The people must unite against the exploiters and fast.
Are you suggesting property developers should not be legally obliged to build social housing alongside the rich people pads that make them money? Are you suggesting that the profits of property developers are more important than providing for the most vulnerable? Also are you suggesting that there is actually any inherent value beyond the need to earn money in being a hard worker?
Some people have no other option
TSR isn't the best place to ask this question. Most of the responses will be "they are too unintelligent". Most are lucky enough to never have experienced such financial hardship
TSR isn't the best place to ask this question. Most of the responses will be "they are too unintelligent". Most are lucky enough to never have experienced such financial hardship
Original post by scrotgrot
Um, you do realise the working poor get tax credits and other benefits that tail off and mean that they are never worse off than those not working? And anyone on such a low wage isn't paying a mortgage because they would never have been given one by the bank.
Until homeowners on PAYE give up their pathetic delusions of grandeur and realise they are just as much serfs as council tenants on benefits, the elite will continue to profit from all of us. The people must unite against the exploiters and fast.
Are you suggesting property developers should not be legally obliged to build social housing alongside the rich people pads that make them money? Are you suggesting that the profits of property developers are more important than providing for the most vulnerable? Also are you suggesting that there is actually any inherent value beyond the need to earn money in being a hard worker?
Until homeowners on PAYE give up their pathetic delusions of grandeur and realise they are just as much serfs as council tenants on benefits, the elite will continue to profit from all of us. The people must unite against the exploiters and fast.
Are you suggesting property developers should not be legally obliged to build social housing alongside the rich people pads that make them money? Are you suggesting that the profits of property developers are more important than providing for the most vulnerable? Also are you suggesting that there is actually any inherent value beyond the need to earn money in being a hard worker?
Hi yes im aware of the working families tax credit system.
I think that most people who work would expect to be better off than those who dont work and who are therefore dependent on the state for their living.
Im not sure that homeowners on PAYE do have delusions of grandeur. They just need somewhere to live as they may be low down the priority list for social housing.
Home ownership is just an illusion anyway. They are not homeowners until they have made the last payment and even then, they do not have true ownership of the land upon which their home stands.
Yes i am suggesting that the whole pathfinder scheme was corrupt to the point of criminality and yet no one was brought to justice for it.
When we unite against the exploiters what do you envisage? Some kind of mass civil conflict?
The bottom line as that we the slaves who infest the Sovereigns land by her good grace and charity, are enslaved to the capitalist system. There is no other system available at the moment.
So you either play the game or you dont.
I do not believe that there should be mixed social and mortgaged housing.
When should someone go out to work 9-5 to pay for something that their neighbour is getting for free?
The people who are mortgaged are not rich. Most are just getting by and any profit they make from trading their home is purely notional and would not stand up to even the most cursory glance on a balance sheet since they have overpaid many times over due to the insidious long term inflation of the cost via mortgage interest accumulation.
Slavery has not ended in the developed world. It has merely changed form.
I am a great believer in communal living for the common good. Anyone know any good communes?
Original post by Emma:-)
I would never borrow from one of the payday lenders. The interest rates are horrific for starters.
There are better ways of going about it.
There are better ways of going about it.
Yeah, they rip you right off! interest is insane
I've borrowed from payday lenders a few times, and had good experiences each time. I did it because there weren't any other options for me. At the time, I needed just a little extra money to have enough for my rent. Paying the interest was better than getting kicked out of my apartment. I always paid back the full amount as soon as I got my paycheck. I wouldn't use this service to borrow any large amount of money, certainly. But for an extra 50 or 100, it might be worth it in a pinch.
You are wrong. The real working class are on low wages work 60 70 hr weeks to live a very basic lifestyle. You do not qualify for tax credirs etc if you work full time
Get some life experience and meet the people that work their ass of for naff all. I see people on benefits eating regularly at pubs, going on holiday and saving for christmas. I know many working class people that simply cannot afford such luxuries nor have they got the time to enjoy themas you guessed it 'they are too busy working' and seeing nothing for it. Its a disgrace and when the working class rebel, believe me, the country comes to a stand still. The benefit scroungers and upper classes are the only people with plenty of time on their hands. The rest of us are working all the time.
Get some life experience and meet the people that work their ass of for naff all. I see people on benefits eating regularly at pubs, going on holiday and saving for christmas. I know many working class people that simply cannot afford such luxuries nor have they got the time to enjoy themas you guessed it 'they are too busy working' and seeing nothing for it. Its a disgrace and when the working class rebel, believe me, the country comes to a stand still. The benefit scroungers and upper classes are the only people with plenty of time on their hands. The rest of us are working all the time.
I hate them BUT, I have known a friend of mine say he uses them when he's at the end of his overdraft because was he to go over, his charges would be so much more than what the payday loan will charge him in interest, he's only ever over for a couple of days and pays them back as soon as he can. I get that-although obviously It's not a great situation to be in in the first place.
It's worth remembering that some unnaranged overdraft fees are cheaper than payday loan interest rates... that tells you all you need to know really.
You might also be interested to know that these companies make the majority of their profit from late payments.
You might also be interested to know that these companies make the majority of their profit from late payments.
Original post by scrotgrot
Um, you do realise the working poor get tax credits and other benefits that tail off and mean that they are never worse off than those not working? And anyone on such a low wage isn't paying a mortgage because they would never have been given one by the bank.
Until homeowners on PAYE give up their pathetic delusions of grandeur and realise they are just as much serfs as council tenants on benefits, the elite will continue to profit from all of us. The people must unite against the exploiters and fast.
Are you suggesting property developers should not be legally obliged to build social housing alongside the rich people pads that make them money? Are you suggesting that the profits of property developers are more important than providing for the most vulnerable? Also are you suggesting that there is actually any inherent value beyond the need to earn money in being a hard worker?
Until homeowners on PAYE give up their pathetic delusions of grandeur and realise they are just as much serfs as council tenants on benefits, the elite will continue to profit from all of us. The people must unite against the exploiters and fast.
Are you suggesting property developers should not be legally obliged to build social housing alongside the rich people pads that make them money? Are you suggesting that the profits of property developers are more important than providing for the most vulnerable? Also are you suggesting that there is actually any inherent value beyond the need to earn money in being a hard worker?
It's possible for someone to have lost a good paying job and having to make do with a lower paid job. In fact this has been quite common due to the recent recession.
Also the proportion of single(especially young ) adults in work living in poverty seems to be on the rise
Original post by Chopzy
You are wrong. The real working class are on low wages work 60 70 hr weeks to live a very basic lifestyle. You do not qualify for tax credirs etc if you work full time
Get some life experience and meet the people that work their ass of for naff all. I see people on benefits eating regularly at pubs, going on holiday and saving for christmas. I know many working class people that simply cannot afford such luxuries nor have they got the time to enjoy themas you guessed it 'they are too busy working' and seeing nothing for it. Its a disgrace and when the working class rebel, believe me, the country comes to a stand still. The benefit scroungers and upper classes are the only people with plenty of time on their hands. The rest of us are working all the time.
Get some life experience and meet the people that work their ass of for naff all. I see people on benefits eating regularly at pubs, going on holiday and saving for christmas. I know many working class people that simply cannot afford such luxuries nor have they got the time to enjoy themas you guessed it 'they are too busy working' and seeing nothing for it. Its a disgrace and when the working class rebel, believe me, the country comes to a stand still. The benefit scroungers and upper classes are the only people with plenty of time on their hands. The rest of us are working all the time.
This is partly why UKIP is on the rise - even in Labour heartlands!
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