Don't wear that shirt!

Old Oct 10th 2012, 2:46 pm
  #16  
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Default Re: Don't wear that shirt!

Originally Posted by Meow View Post


It is not necessary to be a bastard and take advantage of others to be successful.
Exactly!
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Old Oct 10th 2012, 2:46 pm
  #17  
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Default Re: Don't wear that shirt!

Originally Posted by Bahtatboy View Post
Bill et al: Correct, but there's a big difference between "not nice" and an APR of 2,000%.

Regulation: No. We have a long history of laissez faire attitudes to business in the UK, but there are various measures in place to make sure that the vulnerable don't get exploited. Ads have to be honest, legal, decent and truthful. Goods and services have to be as described--if they're not, there are various recourses available, most of them well balanced. Goods generally have to be fit for purpose, which is fair. Companies are generally not overly constrained in their operations by consumer protection (and very, very lightly in B2B transactions, with the major protection for small companies against the big boys).

Illegality: No, it isn't illegal, but they're operating on the fringes and I hope that more legislation will come about: the loans are aimed at the most needy, and generally they are the least well-informed--need and lack of awarness = vunerability.

Its not a perfect system, but companies who operate ethically and provide good products and services can do well, and vunerable consumers and small business have a fair level of protection.
I agree with everything you've said, it's impossible not to. It's not 'fair' but I don't see why they can't be on a football shirt, or can't advertise. Nobody is physically forced into taking a loan. Nobody is forced to not read the small print or not check the terms.


Originally Posted by Meow View Post


It is not necessary to be a bastard and take advantage of others to be successful.
You're right, it's not...but how much damage do betting sites do, or high street bookies in comparison to being charged 20 quid to borrow 100?

I just think it's easy to criticise these companies. They are such a simple target to throw shit at when in reality, they are doing nothing wrong.
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Old Oct 10th 2012, 2:55 pm
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Default Re: Don't wear that shirt!

Originally Posted by Scamp View Post
I agree with everything you've said, it's impossible not to. It's not 'fair' but I don't see why they can't be on a football shirt, or can't advertise. Nobody is physically forced into taking a loan. Nobody is forced to not read the small print or not check the terms.



You're right, it's not...but how much damage do betting sites do, or high street bookies in comparison to being charged 20 quid to borrow 100?

I just think it's easy to criticise these companies. They are such a simple target to throw shit at when in reality, they are doing nothing wrong.

I happen to think that it is wrong to charge such high rates of interest. It may not be illegal, but it is ethically and morally wrong.

Many people are stunningly ignorant and naive when it comes to finances and it companies are unable act in a decent manner I would like to see regulation to stop this kind of usuary.

We shouldn't have to have a law to tell people not to kill others, or drive when drunk, but we do. If people cannot behave responsibly, then society, sometimes in the form of legislation, has to do something about it.
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Old Oct 10th 2012, 3:03 pm
  #19  
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Default Re: Don't wear that shirt!

Originally Posted by Scamp View Post
I agree with everything you've said, it's impossible not to. It's not 'fair' but I don't see why they can't be on a football shirt, or can't advertise. Nobody is physically forced into taking a loan. Nobody is forced to not read the small print or not check the terms.




You're right, it's not...but how much damage do betting sites do, or high street bookies in comparison to being charged 20 quid to borrow 100?

I just think it's easy to criticise these companies. They are such a simple target to throw shit at when in reality, they are doing nothing wrong.
Sorta gone full circle there with a twist: I started the thread by decrying the attempt (albeit the MCB's) to prohibit NUFC using the shirt. But that was about the MCB, not Wonga.

Actually, I disprove of football clubs having sponsorship from betting and loan companies and the like. Because not only do we have our youth looking up to footballers who are cheats, liars and racists, but who now endorse companies whose services should only be considered by adults who have a very good understanding of the risks they take in using those services. Impressionable youth is now being brainwashed into believing that their heroes support those companies and their services, and therefore they're ok. That's bloody worrying. As for the religous angle: I agree with the sentiment, but if the CoE came along and decried the situation my response would be the same (well, similar, but watered-down a bit).

Many lives are damaged by gambling and Wonga-type loans. Many are enhanced and saved by condoms. So which one do we ban?
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Old Oct 10th 2012, 3:19 pm
  #20  
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Default Re: Don't wear that shirt!

Originally Posted by Bahtatboy View Post
Sorta gone full circle there with a twist: I started the thread by decrying the attempt (albeit the MCB's) to prohibit NUFC using the shirt. But that was about the MCB, not Wonga.

Actually, I disprove of football clubs having sponsorship from betting and loan companies and the like. Because not only do we have our youth looking up to footballers who are cheats, liars and racists, but who now endorse companies whose services should only be considered by adults who have a very good understanding of the risks they take in using those services. Impressionable youth is now being brainwashed into believing that their heroes support those companies and their services, and therefore they're ok. That's bloody worrying. As for the religous angle: I agree with the sentiment, but if the CoE came along and decried the situation my response would be the same (well, similar, but watered-down a bit).

Many lives are damaged by gambling and Wonga-type loans. Many are enhanced and saved by condoms. So which one do we ban?
Yeah, sorry about that big loop.

Same can be said for kids magazines and the types of glossy girls mags that are aimed at younger generations demanding skinny, big tits, blonde and tanned. That's a whole other debate though (protecting kids).

That all being said, cigs are harmful (apparently) and they are banned from being advertised in certain ways.
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Old Oct 10th 2012, 3:59 pm
  #21  
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Default Re: Don't wear that shirt!

Originally Posted by Manchester_QS View Post
Wonga is a horrible horrible company!
true but they were they only company wonga could find with a lower moral compass than their own
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Old Oct 10th 2012, 4:29 pm
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Default Re: Don't wear that shirt!

My 9 year old's abudhabi harlequin rugby top is sponsored by one of these dodgy ifa companies.

Any guesses?
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Old Oct 10th 2012, 5:31 pm
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Default Re: Don't wear that shirt!

The problem with the APR calculation in Wonga's case (etc) is that - ironically - the sooner you pay it off, the higher the APR actually is. This is due to the fixed minimum bit..........
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Old Oct 10th 2012, 5:47 pm
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Default Re: Don't wear that shirt!

Originally Posted by saudiflares View Post
My 9 year old's abudhabi harlequin rugby top is sponsored by one of these dodgy ifa companies.

Any guesses?
only one....servere, guess...

Last edited by OleJanx; Oct 10th 2012 at 6:57 pm.
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Old Oct 10th 2012, 6:57 pm
  #25  
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Default Re: Don't wear that shirt!

Originally Posted by Scamp View Post
That all being said, cigs are harmful and they are banned from being advertised
Not just certain ways, you can't advertise cigarettes in ANY way. and even the shelves with them on have to be covered unless someone is taking a pack out to sell. This applies, at the moment, just to the larger shops and supermarkets, but will apply to ALL by 2015, and there is no advertising allowed even there.
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Old Oct 10th 2012, 7:19 pm
  #26  
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Default Re: Don't wear that shirt!

I do like the Wonga adverts on the radio though: Mini Millhouse and I sing along to them.
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Old Oct 11th 2012, 2:31 am
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Default Re: Don't wear that shirt!

Originally Posted by OleJanx View Post
only one....servere, guess...
No not severe.
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Old Oct 11th 2012, 4:08 am
  #28  
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Default Re: Don't wear that shirt!

Originally Posted by The Dean View Post
The problem with the APR calculation in Wonga's case (etc) is that - ironically - the sooner you pay it off, the higher the APR actually is. This is due to the fixed minimum bit..........
Don't let the facts get in the way.
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Old Oct 11th 2012, 4:29 am
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Default Re: Don't wear that shirt!

Originally Posted by Millhouse View Post
Don't let the facts get in the way.
Oh sorry......
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Old Oct 11th 2012, 4:32 am
  #30  
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Default Re: Don't wear that shirt!

Originally Posted by The Dean View Post
Oh sorry......
We use what I can only describe as a "reverse APR pricing system" for our loans... we have been known to tell the client, if you take this for an extra couple of years we will reduce the rate.

Work that one out and you are a better man than me.
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