This pop-up ad appeared on my computer offering "responsible" loans.

I wonder if anyone is gullible enough to take it up?

Look at the APR! :o

https://www.lendingstream.co.uk/?utm_source=eyeconomy&utm_medium=clicktracker&utm_campaign=landingpage4

I find it amazing these companies are getting away with it. It is legalised loan sharks. I think the goverment are trying to bring some sort of legislation in at the moment. But knowing what they are like it'll be years and then the damage to the vulnerable has already been done.

I am sure I saw a TV ad advertising loans the other day with an APR over 7000% written at the bottom of the screen.

the sad thing is some people are so short of money they will take it

I am sure I saw a TV ad advertising loans the other day with an APR over 7000% written at the bottom of the screen.

The companies involved insist that APR is an unreasonable calculation for a short-term loan.

The £15 fee isn't calculated in to the repayment either.

I love the " As seen on TV" bit. It was probably on Watchdog.

Its like them frigging wonga dummies I think you would have to be a dummy to have anything to do with them,

I am sure I saw a TV ad advertising loans the other day with an APR over 7000% written at the bottom of the screen.
These are short term loans. That 7000% is what you would pay if you had the loan over a year.

The sad thing is that it is people on low incomes that can ill afford to pay back at these rates that are taking out these loans, especially at this time of the year.

The companies involved insist that APR is an unreasonable calculation for a short-term loan.

They'd be right. Borrow £100 from Wonga for a day and pay only £6. If I lent a mate £100 I'd want a tenner for my trouble.

And see how easy it is to borrow £100 for a day from your bank, or how much an unauthorised overdraft would cost you. Barclays charge £22 for up to 5 days authorised, unauthorised is either £20 or £40.

And see how easy it is to borrow £100 for a day from your bank, or how much an unauthorised overdraft would cost you.

Nothing whatsoever; but then, my bank is not a bank, it's a building society.