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Kerry Katona and cash lady instance loans


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Old 12-06-2013, 18:50
johartuk
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I was always taught if you can't afford it go without - and my family were very loving and compassionate thankyou very much
The thing is, if you actually watch the adverts, many of them specifically target people with unexpected expenses (one actually features a character called Unexpected Bill). There's a world of difference between someone deciding they want to treat themselves to a new TV and someone having an unexpected boiler repair, larger than expected utility bill or unexpected car repairs to pay for. It's easy to be smug and decide that everyone who uses these payday loan companies is only using them to buy non-essential items that they could (and should) save up for, but that's simply not the case.
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Old 12-06-2013, 18:55
johartuk
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To all of those idiots who are banging on about her being bankrupt, and how could she afford this and that.

The point is she WAS bankrupt. Bankruptcy usually lasts 1 year whilst the administrators look to see what assets you have and which creditors should be paid back, if at all. After one year you are discharged from bankruptcy and able to obtain credit again, and pretty much continue life as normal.

It does not last a lifetime, and believe you and me it is a very tough process to go through. So please stop tarnishing her with this brush - she had lost her home and most of her wealth because of it - She can now quite rightly do as she pleases.
The point is, would you take financial advice from someone who has recently been bankrupt? The fact that she's no longer bankrupt doesn't mean that she's suddenly become sensible and stable with her finances.
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Old 12-06-2013, 19:50
mirrormirror
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The point is, would you take financial advice from someone who has recently been bankrupt? The fact that she's no longer bankrupt doesn't mean that she's suddenly become sensible and stable with her finances.
Because they paid her a lot of money. Why not.
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Old 12-06-2013, 22:17
burbs
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Have a look at the type of people who are likely to get taken in by these ads. If you can't see how payday loans are actively preying upon the most vulnerable people in society and bring yourself to feel some compassion or even basic understanding, that's a shame.

Payday loans need to be banned and it's a disgrace our government let them operate in this country on any level.
Of course I can see what these companies do but then they do not force anyone to take the money off them. We cant afford to pay the money back, they have ruined our life are lines only peddled out once the people have taken and spent the money.
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Old 12-06-2013, 22:20
burbs
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I bet you don't have money problems with that "holier than thou" attitude of yours.I'm fine financially but at least I have compassion for people who are sucked in by these leeches. Maybe you should do the same.
No I do not have money problems, I set up a business and work hard to provide for my family not that it is any of your concern.

I have compassion for people who cannot afford to provide for their families but I also believe that they should do something constructive about it rather than taking money off loan companies then moaning to anyone who will listen when they cannot afford to pay it back.
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Old 12-06-2013, 22:22
burbs
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These payday loan companies are rubbing their hands with glee at being able to prey on vulnerable people during these difficult times.
They are providing a service, one that anyone can say no to. They do not force anyone to take the cash. If someone goes to these companies they make it crystal clear of their terms and conditions. These "vunerable" people are not tearful when they are taking and spending the money, its all plain sailing then, its only when they cannot afford to pay back that they have a sob story.

Save for the items you want or dont have them!
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Old 12-06-2013, 22:32
Rowan Hedge
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To all of those idiots who are banging on about her being bankrupt, and how could she afford this and that.

The point is she WAS bankrupt. Bankruptcy usually lasts 1 year whilst the administrators look to see what assets you have and which creditors should be paid back, if at all. After one year you are discharged from bankruptcy and able to obtain credit again, and pretty much continue life as normal.

It does not last a lifetime, and believe you and me it is a very tough process to go through. So please stop tarnishing her with this brush - she had lost her home and most of her wealth because of it - She can now quite rightly do as she pleases.
Vile advert fronted by a pathetic excuse for a human being, my heart bleeds for her losing her wealth and home.

Ban her and that disgusting advert, they have no place in decent society.
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Old 13-06-2013, 10:38
zx50
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They are providing a service, one that anyone can say no to. They do not force anyone to take the cash. If someone goes to these companies they make it crystal clear of their terms and conditions. These "vunerable" people are not tearful when they are taking and spending the money, its all plain sailing then, its only when they cannot afford to pay back that they have a sob story.

Save for the items you want or dont have them!
Some items you need urgently. Yes, they should try and save, but I still have sympathy for people who get into trouble because of these parasites. Others can choose to be hard and unsympathetic, not me though.
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Old 13-06-2013, 10:43
zx50
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No I do not have money problems, I set up a business and work hard to provide for my family not that it is any of your concern.

I have compassion for people who cannot afford to provide for their families but I also believe that they should do something constructive about it rather than taking money off loan companies then moaning to anyone who will listen when they cannot afford to pay it back.
Not everyone has the funds to set up their own business.
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Old 13-06-2013, 10:47
zx50
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The thing is, if you actually watch the adverts, many of them specifically target people with unexpected expenses (one actually features a character called Unexpected Bill). There's a world of difference between someone deciding they want to treat themselves to a new TV and someone having an unexpected boiler repair, larger than expected utility bill or unexpected car repairs to pay for. It's easy to be smug and decide that everyone who uses these payday loan companies is only using them to buy non-essential items that they could (and should) save up for, but that's simply not the case.
Precisely, but some seem to forget this. It's okay criticising these people when you, yourself have money, but it's a completely different story for those who haven't.
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Old 13-06-2013, 13:12
burbs
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Some items you need urgently. Yes, they should try and save, but I still have sympathy for people who get into trouble because of these parasites. Others can choose to be hard and unsympathetic, not me though.
And that's fine, your entitled to your opinion the same as others are entitled to theirs.

You insist that these companies are parasites and that you feel sorry for these people who cannot afford the items that they need so desperately, so if these loan companies didn't provide the service that they did then where would these people get the money for the items that they need urgently?

What are you suggesting would solve these problems? How do you propose to solve the issue of these "parasite" companies?

Do gooders always have something to chime on about but can rarely give a constructive solution. If we get rid of these loan companies where are these families going to get the cash that they require?
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Old 13-06-2013, 13:18
burbs
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Not everyone has the funds to set up their own business.
Not suggesting they do, I didn't when I decided that was the road that I was going to take but I managed it. This is not about me and my lifestyle though, this is about a company providing a service, which is needed by some and them getting lambasted for providing the service.

It is a joke that we continue to wrap people up in cotton wool and listen to a good sob story. The lines I needed the cash and I didn't know what I was doing, they made me take the money and now I'm in major debt. Get a grip people, dont want the debt then don't accept the money off these companies and if you do they make you well aware of what your getting involved in.
If then you still take their money then you made you bed so lie in it and deal with it instead of expecting everyone else to pick up the pieces.

Nobody accepts their responsibilities in this country anymore as there is always some do gooder willing to jump on a bandwagon and slag a company off who are doing nothing wrong other than offering a service which is at the more expensive end of the spectrum.
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Old 13-06-2013, 13:33
Kwazykat61
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I was taught the same but you really don't sound compassionate at all. You sound like you have no understanding of how people can be in the position where they thinking using a Payday loan service will help them, which is a bit sad if you're an adult who has been out in the world.
Just got back on DS and seen this, haven't had a chance to get on before as oh dear I work full time and pay my way and get into debt but responsible debt. So yes I am an adult out in the world !!!. I am compassionate but would not get into debt for a flat screen tv/playstation or whatever latest blooming gadget comes out. Don't judge me you know NOTHING about me.
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Old 13-06-2013, 14:27
tommytiger
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A lot of the reason I don't have sympathy for these people is that i've been there - I've had less than no money and i've had to repeatedly pawn all my stuff at the local Cash Converters just to make ends meet. I've been "the vulnerable" and I most certainly never felt "preyed" upon.

If someone is stupid enough to take out a short term, high interest loan for something that may not be an essential, then that's entirely their own fault if they can't pay it back.
Have you ever considered some people with less intelligence and the mentally impaired could be duped into taking out these loans? Not everyone has common sense or intelligence to know a rip-off when they see one.
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Old 13-06-2013, 14:51
shoppingqueen
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her first ads with the company were banned. They showed her celebrity lifestyle was from pay day loans! oh yeah course it was!

I think Kerry and Carol Voderman and other celebs should be judged and pulled up for fronting them! in Kerry's case it's totally hypocritical! Carol has parted company with her loan company
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Old 13-06-2013, 15:00
zx50
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And that's fine, your entitled to your opinion the same as others are entitled to theirs.

You insist that these companies are parasites and that you feel sorry for these people who cannot afford the items that they need so desperately, so if these loan companies didn't provide the service that they did then where would these people get the money for the items that they need urgently?

What are you suggesting would solve these problems? How do you propose to solve the issue of these "parasite" companies?

Do gooders always have something to chime on about but can rarely give a constructive solution. If we get rid of these loan companies where are these families going to get the cash that they require?
They can still provide their service without charging as much interest as they do. That's why I call them parasites for, not because they're simply handing money out to people that has to be paid back with interest. It's how MUCH interest that I'm talking about.
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Old 13-06-2013, 15:07
zx50
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Have you ever considered some people with less intelligence and the mentally impaired could be duped into taking out these loans? Not everyone has common sense or intelligence to know a rip-off when they see one.
Another good post. I actually never thought of bringing this up. This was on the news not that long ago about how these payday loan companies get their staff to specifically target people who can't really see that this is a bad idea. These people of low intelligence then end up 1,000+ in debt. It's quite disgusting. It's a shame that people like this haven't got anyone living with them so as to send these parasites packing.
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Old 13-06-2013, 15:27
The Prumeister
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Life isn't black and white and it's not just chavs buying widescreen tellies and smack who accrue lots of debts. I am one such person. Admittedly, I have never resorted to using one of these companies but I have every sympathy for people who struggle and it seems to be an issue that is increasing; the proliferation of food banks in the UK would seem to suggest this.
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Old 13-06-2013, 16:44
muddipaws
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The point is, would you take financial advice from someone who has recently been bankrupt? The fact that she's no longer bankrupt doesn't mean that she's suddenly become sensible and stable with her finances.
Of course she can become sensible with money, but that's her choice. If she does, good on her, I would guess that she took this contract to earn a crust like the rest of us
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Old 13-06-2013, 16:49
JasonWatkins
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Have you ever considered some people with less intelligence and the mentally impaired could be duped into taking out these loans? Not everyone has common sense or intelligence to know a rip-off when they see one.
If it was through an unlicensed loan shark then i'd say there's certainly a possibility that scenario could happen. But for any of these payday loan companies, I'd say it's unlikely due to the potential fallout that would happen if it was found that someone without the mental competency to know what they were agreeing to was tricked into taking out a loan.
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Old 13-06-2013, 17:50
zx50
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If it was through an unlicensed loan shark then i'd say there's certainly a possibility that scenario could happen. But for any of these payday loan companies, I'd say it's unlikely due to the potential fallout that would happen if it was found that someone without the mental competency to know what they were agreeing to was tricked into taking out a loan.
I don't think they meant someone that had obvious/severe learning difficulties, but just someone that could be tricked if you said the right things.
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Old 13-06-2013, 18:00
JasonWatkins
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I don't think they meant someone that had obvious/severe learning difficulties, but just someone that could be tricked if you said the right things.
Fair enough, but I still can't imagine they'd take a gamble by trying to trick someone into a loan by withholding pertinent information - I would have thought that at the very minimum, they'd have to tell the person how much they'd have to pay back and when they'd have to pay it back by.

So even if you're one of "the vulnerable", surely you'd have even the most basic intelligence to think "I'm borrowing 500 pounds and I have to pay it back within 4 weeks" ??.
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Old 13-06-2013, 18:16
zx50
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Fair enough, but I still can't imagine they'd take a gamble by trying to trick someone into a loan by withholding pertinent information - I would have thought that at the very minimum, they'd have to tell the person how much they'd have to pay back and when they'd have to pay it back by.

So even if you're one of "the vulnerable", surely you'd have even the most basic intelligence to think "I'm borrowing 500 pounds and I have to pay it back within 4 weeks" ??.
4 weeks?! Over 125 a week? I thought the reason they were making a massive profit was because they were allowing the person to pay the money back over a lengthy period of time, thus, they ended up paying back far more than they would have if they'd have got the debt on a credit card. Paying the money back quick won't be adding much on in the interest department.
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Old 13-06-2013, 18:21
JasonWatkins
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Paying the money back quick won't be adding much on in the interest department.
And there lies the rub, so to speak. If you use any of these payday loan companies properly and pay the money back within the recommended period of time - most likely within 4 weeks - then the interest you pay on top is next to nothing.

You only run in to problems if you go over that time period because that's when the ridiculously high APR kicks in.

That's why they're called "payday loans" because the whole idea is that you borrow X amount until you next get paid.
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Old 13-06-2013, 18:24
Auld Snody
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How are they getting conned? Nobody forces these people to take the loan, nobody hides the fact that its an expensive way of borrowing. Sob stories about people getting into trouble through these companies are boring now, dont want to get into debt and pay a ridiculous amount of money back then dont take loans off these companies. If you want the money for something then, shock horror, save!!
Desperate people do desperate things. They should be protected from loan sharks like this. That is what government's are supposed to do . Not make the loan sharks government advisors.
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