F*cking evil businesses

[Webbo]

Whichever way you choose to look at it though, 2356% APR is pretty immoral.

I'm not arguing that but I'm sure there are worst people you can borrow money from who don't bother with the niceties of the law.

If you're forced to borrow from these types then you must have a well earned poor credit rating. In the end we're all responsible for our own actions and if we don't suffer the consequences of those actions then we will never learn.

[Sly]

EVIL COMPANIES!!!!

I seriously don't know how they get away with it in all honesty.

[Guest Bilo]

I'm not arguing that but I'm sure there are worst people you can borrow money from who don't bother with the niceties of the law.

If you're forced to borrow from these types then you must have a well earned poor credit rating. In the end we're all responsible for our own actions and if we don't suffer the consequences of those actions then we will never learn.

There are worse people you can borrow from, but they are rightly criminalised and the penalties for being caught as a loan shark are pretty stringent. My problem with this lot is that they operate in a similar way (guaranteed lending with sky-high interest rates) but are completely legit in the eyes of the law. No way should they be granted that legitimacy. Of course these people have a poor credit rating, but surely it would be better to allow them to build it back up slowly through more principled lenders rather than give them £1500 with no checks and the chance of having to pay back 25 times the amount? The consequence should be that they have to start with a ridiculously small credit limit at a normal APR and work their way up. That surely is a far better way of learning from past mistakes.

[Webbo]

I'd rather that they didn't borrow anything. Personally I'm terrified of debt, I have a mortgage and a car loan and that's it. I had to take out a credit card so I could have free banking but it's never used. If I want something I save up or do without. I don't feel that I'm missing out because of that.

[Guest Bilo]

I'd rather that they didn't borrow anything. Personally I'm terrified of debt, I have a mortgage and a car loan and that's it. I had to take out a credit card so I could have free banking but it's never used. If I want something I save up or do without. I don't feel that I'm missing out because of that.

Which is exactly the kind of attitude that should be encouraged. Unfortunately, it hasn't and the credit crunch and subsequent growth in companies of this type are the result.

[Edmund]

You could also put all these cash for gold/cash for watch companies in the same bracket.

I wonder how many old dears have been robbed by their skaghead grandsons in order to get their next fix as a result.

[Sly]

I'd rather that they didn't borrow anything. Personally I'm terrified of debt, I have a mortgage and a car loan and that's it. I had to take out a credit card so I could have free banking but it's never used. If I want something I save up or do without. I don't feel that I'm missing out because of that.

This attitude is spot on.

I only have more Mortgage but I do tend to buy on my credit card which in turn I pay off when I pay off on a weekly basis. Why, because I get to collect air miles with it! Saves carrying cash around.

[Finnegan]

Fuck debt, fuck capitalism, fuck consumerism, fuck corporations, debt consolidation, depression, recession, fuck global evil.

TV tells me if you become self sufficient you get a ride on a young Felicity Kendal and you're never unhappy.

Faaaantastic.

[Webbo]

TV tells me if you become self sufficient you get a ride on a young Felicity Kendal and you're never unhappy.

Faaaantastic.

She certainly encouraged me to scatter some seed when I was a lad.

[Finnegan]

She certainly encouraged me to scatter some seed when I was a lad.

[Houdini Logic]

Yea - because there's no link between societal problems, addiction disorders, mental health issues and locked-in debt at all, is there?!

Talk about ignorant...

In all fairness you implied that everyone who took out a Quik Quid loan would become homeless, alcohol dependant or jobless, so it's pretty rich to call me ignorant.

Even if I got myself into so much trouble that I couldn't deal with a 'reputable' lender, I'd at least have the common sense to go with any other 'bad credit' lender, so my sympathy is limited.

I certainly don't think it's the responsibility of TV networks or the law to protect people like this from themselves...

[Edmund]

[Sir Fynwy]

Apple

[Daggers]

In all fairness you implied that everyone who took out a Quik Quid loan would become homeless, alcohol dependant or jobless, so it's pretty rich to call me ignorant.

Even if I got myself into so much trouble that I couldn't deal with a 'reputable' lender, I'd at least have the common sense to go with any other 'bad credit' lender, so my sympathy is limited.

I certainly don't think it's the responsibility of TV networks or the law to protect people like this from themselves...

You denying that there's links between societal problems, addiction disorders, mental health issues and locked-in debt? That there are no repercussions for society and no financial implications to yourself?

[MPH]

exploitation of the vulnerable /desperate makes me very very annoyed...

and for the spoons in here who call people thick and say that this doesnt effect them...

lets just hope it never does effect you and lets hope you are never so desperate as to need money urgently...

My mum had to sell her wedding and engagement rings to buy food we were so poor at one stage.....

Does quick quid describe what they give or what they make?

[skinnydipper]

And when they become homeless, alcohol dependant, jobless etc? Who pays for them then, after they spiralled into debt and developed depression?

That's when they apply for teacher training

[Houdini Logic]

You denying that there's links between societal problems, addiction disorders, mental health issues and locked-in debt? That there are no repercussions for society and no financial implications to yourself?

Of course not, there are clearly links (what I didn't like was your explicit link) but I think that in many cases it is an attitude/education thing and banning companies like Quik Quid is somewhat missing the point.

In financial terms this is pennies - doesn't concern me.

Call me an existentialist but I make my own choices in life - I don't need censorship and regulation to help me make the right/wrong choices about who I borrow my money from, who I vote for, what I wear...

[Webbo]

and for the spoons in here who call people thick

That would be me.

Please don't try and lecture me on poverty, been there, done that, couldn't afford the tee shirt. It was a way of life for me as a kid, mainly caused my by dad's spendthrift ways.

When we got married and bought our house we sat on deck chairs, watching the wife's old portable TV eating beans on toast every night. We didn't go to quickquid or any other lender. We saved up and bought things as we could afford them.

The social services pay the rent/rates of the truly poor, they give them a (poor admittedly)income to live on. There is no need to go to these rip off lenders if you live within your means.

[coale39]

Of course not, there are clearly links (what I didn't like was your explicit link) but I think that in many cases it is an attitude/education thing and banning companies like Quik Quid is somewhat missing the point.

In financial terms this is pennies - doesn't concern me.

Call me an existentialist but I make my own choices in life - I don't need censorship and regulation to help me make the right/wrong choices about who I borrow my money from, who I vote for, what I wear...

You obviously cant say to a business how much they will charge for a service. However, i think it should be explicitly clear how much they have to pay back in total if for example they borrow £500. Then no one can complain.

[Finnegan]

You had that culture and upbringing though, Webbo. Lots of people in my generation didn't, even if they were poor they were still spoilt wth consoles and cd players, we're a whole generation who've always gotten our way. We're the consumer generation, we've been brought up with a media and shopping environment that no generation before us has had.

I'm not excusing people who spend their way into ludicrous debt, I'm very much someone that's always known to live within his means, but times are different, people's educations and their upbringings and their lifestyles are different and the country is now far more of a spawning ground for this sort of scheme than it ever has been.

[Edmund]

I'm loving the ad at the bottom of this thread - Unsecured Loans :laugh:

[davieG]

When the culture of the country is based on spending and credit from the Government down and when they actively encourage it by persuading young people, even if it's not the best option for them to go to University and rack up debts before they've ever had the opportunity to manage an income of their own - then it's seems pretty reasonable for the authorities to ensure that people aren't being ripped off.

If you think you don't need protection and can make you're own judgement then maybe you're forgetting all the legislation that's been gladly accepted by virtually everyone to control a whole range of areas of daily expenditure covering virtually everything you can buy or services you can pay for. I don't see why the financial markets should be excused.

The world is full of unscrupulous people trying to rip the general public off with sleight of hand practices.

[stez]

You had that culture and upbringing though, Webbo. Lots of people in my generation didn't, even if they were poor they were still spoilt wth consoles and cd players, we're a whole generation who've always gotten our way. We're the consumer generation, we've been brought up with a media and shopping environment that no generation before us has had.

I'm not excusing people who spend their way into ludicrous debt, I'm very much someone that's always known to live within his means, but times are different, people's educations and their upbringings and their lifestyles are different and the country is now far more of a spawning ground for this sort of scheme than it ever has been.

bloody young adults of today! you'd never catch me racking up unsustainable bills when i was a young adult!

[Daggers]

Of course not, there are clearly links (what I didn't like was your explicit link) but I think that in many cases it is an attitude/education thing and banning companies like Quik Quid is somewhat missing the point.

In financial terms this is pennies - doesn't concern me.

Call me an existentialist but I make my own choices in life - I don't need censorship and regulation to help me make the right/wrong choices about who I borrow my money from, who I vote for, what I wear...

Too right - I choose not to murder people. I don't need regulation to help me make the appropriate choice.

I don't think 'existentialist' is the word tripping off my tongue at the moment.

[Zingari]

That's the trouble with Britain today , there's just not enough legislation and warnings to prevent our idiotic public doing silly things .

Why only the other day i bought a packet of peanuts and there was absolutely no warning that the contents may contain nuts

Someone could get hurt with this sort of dereliction of responsibility