Wednesday, 29 December 2010

Wonga!

Two consecutive TV adverts today mentioning wonga. How crude.

One features a fat man poking his head through the screen, shouting, "Wonga!"

The other is for short term cash loans. It's fantastic! They won an award! Tide you over until pay day! Or until you can get a new pack of tights and a sawn-off!

Borrow up to £1,000 for 31 days. For example, borrow £120 for 9 days and it costs you only £16! Bargain! You can't fall off!

Hang on though... what's the small print? 2689% APR

A credit card is about 16.9%

Over two thousand percent!

So after telling people to avoid loan sharks for all this time, the government have obviously now changed their mind... as long as they can do it all legit, so that the government get their cut.

Watch out, John Prescott will be round to repossess your TV if you don't pay up.

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