Lender Wonga apologises over email

The government should rid society of these paydayloans. Loan sharks in suits.

With base rates at an all time low, the existence of theses companies is a obscenity. All the government needs to do is put a ceiling on the APR that can be legally charged. Although, what I would really like to see would be the Wonga management hanging from lampposts.

Wonga and other Payday lenders are the modern day Shylocks. Lending money to people unable to obtain finance through normal means at APR's of 3750% + is criminal and should be banned/heavily regulated.
They are not helping individuals, they are making the financially naive and vulnerable worse off because, once a loan has been taken the financial nightmare for teh borrower begins.
Legislation needs to be put in place to regulate these modern day Shylocks who are out to get their pound of flesh!

One of Wonga's owners is also advising the Government on employment law, suggesting it be easier to sack people. One of Cameron's special advisers has just joined Wonga at a senior level. Wonga and other payday lenders (including the Provi - still going strong by the way) prey on people who are desperate for cash to meet bills, rent, mortgages etc. but who cant get a loan from other banks - including the ones we nominally own! Credit unions exist in many parts of the country and offer a far cheaper and socially valuable alternative but hardly anyone has heard of them or uses them, as they dont have the multi-million £ advertising budget of Wonga, Pounds in Your Pocket etc. Along with food banks and scavenging on tips for furniture, these loan companies are yet another sign of a divided and broken Britain, where the rich have their puppets in Government (and the Government have their puppets as coalition partners) and the rest of us have to get by as best we can.

wonga are rip off company. they mislead through their advertising how easy it is to get loan. if you make an error on your application it counts against you and this is something that has happened to excellent credit scores.

like many payday loans you still have to pay it back and a high fee. so you end up worse off than if you borrowed from family.

think carefully before you get tied in with wonga. they are very bad news.

Crooks, Loan Sharks, these companies have increased ten fold under this conservative government, and yet decent mutual local friendly organizations were banned by successive governments, you would save with them and could then borrow from them. They were a big part of the local scene and a benefit to all, and now look what you have got legalized crooks.

They should also apologise for fleecing those most in monetary dire straits.

Not sure of they still exist, but when I was young, the payday loan shark was called the "Provident"

Just why are these loan sharks legitimised|?

I was disgusted to see companies like Wonga emerge and be allowed to advertise on TV. At a time when the down turn in the economy has made some very vulnerable desperate people.
Shame on the government for allowing these parasitical loan sharks to do business.