On 25/04/2018 23:22, TimW wrote:
On 25/04/18 14:41, dennis@home wrote:
On 25/04/2018 11:15, TimW wrote:
On 25/04/18 07:40, Brian Gaff wrote:
[...]Its been my experience that high street banks are the
last place to look except for payday loan sharks of course.
Brian


Although I understand the payday loan sharks are used by the canny
poor because they know that if they get to the end of the month and
incur penalty charges on phone, loan, cards etc they will be fleeced.
Better to pay the outrageous fees to a payday loan shark than to let
the high street banks get at you.

It's a sobering thought but wonga exists because the likes of
Barclays and Lloyds are even worse.

TW

They exist because the likes of Barclays and Lloyds won't lend people
money that they can't afford to pay back
Lenders like wonga will lend money to almost anyone and send the heavy
mob around if they don't pay.
They are not in the same leagues.

Actually if you are getting into trouble Barclays and Lloyds will start
to increase your costs and rob you as fast as they can, knowing you
can't afford to pay it back.

I've often thought this too.

Loan companies have to provide an APR which includes any fees to setup
the loan.

I have never understood why banks seem to be immune to including these
fees in any APR calculation.

Same for mortgages too.