Off-Topic 'Using lawyers as fake as its puppets'

Discussion in 'Off-Topic Chat' started by Chunkylover53, Thursday 26th Jun, 2014.

  1. Chunkylover53 Expert Advisor ★ ★ ★ ★ ★

    Wonga to pay £2.6m after threatening borrowers - Money Saving Expert

    Absolutely disgusting practise by Wonga. Threatening its customers with fake lawyers and still having the cheek to overcharge them. That was 4-6 years ago and it has only been uncovered now. Only a matter of time before there's a blanket ban on all these short term loan providers methinks..
     
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  2. SpeedyGee Administrator Staff Team

    England Speedy Birmingham
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    Making money from people that don't have any money, can't believe this hasn't been stopped already.
     
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  3. Nels Moderator Staff Team

    I think the Regulator knew about it 3 years ago, but didn't have any power to deal with them. :Messed:

    IMHO:
    1. All those customers charged should have their money returned, not at 8% as announced, but at the current Wonga rate !
    2. All customers should take out a case of Fraud against Wonga, since it is illegal to impersonate a solicitor.
    The PI Claims companies should be jumping on the band wagon too. They could take all these cases on, as a 'no win, no fee' job lot !

    With any luck, those annoying adverts would also go. :Happy:

    EDIT: Wonga rate from their site "Representative 5853% APR."
     
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  4. AndyB1976 Valued Contributor ★ ★ ★ ★ ☆

    United Kingdom Andy Aberfoyle
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  5. PeteMM Premium Member Club Supporter

    Northern Ireland Pete Belfast, UK
    854
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    Its how business works dude.

    Same applies with credit cards (albeit with smaller APR's)

    I read something recently that made a lot of sense to me...

    Poor people spend all their money on crap
    Middle class people spend their lives paying off debt on depreciating assets
    Rich people buy appreciating assets

    Every time I go on ebay this pops back in my head. I have no desire to remain in the "poor" classification. I have no formal debts, no credit cards and refrain from any loans. I also have no savings, no backup or security blanket. My money (or lack thereof) goes on maintenance of current assets (appreciating or depreciating) and buying items which can make me money long term through their use, ie metal working equipment, tools, machinery, etc.

    This may sound like I am tarring everyone with the same brush, but I do not intend any offense with the next paragraph.

    Those on welfare benefits, in social housing blow their money on tv's, iphones, the latest track suit, lavish clothing and general material things that will never actually result in anything aside from a social status and no money.

    Those in the working/middle class work 5 days a week to pay for the 2 kids, the nice house, the mid-range Audi and low spec BMW on the driveway, ultimately resulting in a miserable working life but a comfortable and happy retirement on their state pension and whatever pension kept them from leaving their job for so long providing everything doesn't go pear shaped in the mean time. Their financial advise comes from bankers, magazines and moneysavingexpert.

    Those in the rich category are there because they either inherited it or worked their fingers to the bone to get it. They buy smart, watch trends and invest wisely, meaning that in times of difficulty, they will almost certainly have a large quantity of liquid cash available by selling a desirable asset they purchased years ago.

    I have massive issues with regard to money, it is the single thing that stresses me out so although I don't have much, when I do get a small windfall I ensure I purchase something that can help me out of a hole at some point in the future. None of it has made me rich, and it may never make me rich, but I am much happier being broke and happy with my wife than being miserable in working life and having the funds to do what we want.
     
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  6. Ichiban Founder Staff Team

    England CJ Leeds
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    Like the high APR store cards of the 90s early 2000 these pay day loan companies will fold when the recession is gone .

    The old adage goes be happy with what you got ,dream what you want believe in it and it will land in your laps one day.
     
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  7. PeteMM Premium Member Club Supporter

    Northern Ireland Pete Belfast, UK
    854
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    It'll never land in your lap.

    Anything you want. You must work until you can work no more until you get it.

    Nothing that's ever good comes for free.
     
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  8. Ichiban Founder Staff Team

    England CJ Leeds
    30,133
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    It's does for me bud I just have to apply myself and it happens.
     
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