Newcastle sign four year shirt deal with ''Wonga''

[Craig 6682]

Aye, as I said earlier, I don't like their business model but it's one I choose to deal with by not engaging with them.

 

They are a business and a legal & legitimate one at that (despite people thinking it's morally questionable).

 

By it's very nature, business can be said to sometimes prey on the weak. Drinkers by alcohol, smokers buy cigarettes, gamblers spend their fortunes at bookies.

[Craig 6682]

I have two cousins who work for CCCS the debt counselling service and some of the stories I have heard from them about such companies is horrific.

 

Have a look on Money Saving Expert.

 

The APR is there for all to see. There are better methods of debt recovery than 'payday loan companies'.

 

I'm amazed how many people seem to go to debt counselling services only after they've entered business with one of these companies. Surely if they'd gone there before (or to Citizen's Advice fro that matter) looking for advice, they'd have told them to steer well clear, no?

[Christmas Tree 4725]

Among their plans are half-time entertainment during matches

 

 

Anything that gets rid of Justin Lockwood cant be all bad

Edited October 9, 2012 by Christmas Tree

[Meenzer 15531]

Again, more so its just a shit name.

 

Any Geordie who deals with a company called "Wonga" is basically a closet southerner.

[McFaul 35]

Stevie / Parky, can you post up links to these stories of people's lives being destroyed by pay day lenders? You both make strong cases but without backing it up with any actual anecdotes or examples of where this is actually happpening. I think they are morally dubious at best and i am sure there are example of people getting trapped i jut wonder hos prevalent it is. I think they are exploiting a niche in the market and its become and massive business for them. I will go off and get the evidence to show how gambling and drinking destroys lives and then we can compare notes later. To settle it, print off all the data, hoy it doon the stairs and whoever's dossier makes the biggest racket, wins.

 

Sound fair?

Links? What did you need links for. I used to work for a company called the Associates (no Citi Financial), they were exactly the same as Wonga. My disgusting job at the time was a collector, basically bullying people in to sorting out arrears. In my time there, I remember at least two suicides directly attributable to debts, one family even wrote to us afterwards, which is why I feel so strongly about this. I remember one woman, single parent from Dewsbury she borrowed £3000 with an income of £9000 p/a, because her son needed the house altering because he was severely disabled and she was getting little help off the council. She lost her job, and had no insurance plan on it, and every time I used to ring she'd say "you're killing me off", I'd go home upset. THAT is why people go to these companies, they are utterly desperate, not because they want to fuck off to Las Vegas for the weekend. It's common sense, and plain to see that an association with a company who target poor people with a view to ripping them off. If people are comfortable with that that's entirely up to them, but I'm not.

[Guest Your Name Here]

I bet there's a big fanfare about it all. All Hail King Mike.

Pleased and surprised to see SJP reinstated. Should never have been renamed.

 

Some details would be nice. How much have Wonga paid for the naming rights? How much for the shirt sponsorship? Is the money for the academy extra money? Are these actually separate deals or just being redistributed from one 'central' sponsorship. Is the money for the academy on top of the existing budget, or merely replacing it?

 

The VM deal was worth up to £10m a season. The naming rights for the stadium were estimated to be worth £10m a season. Are Wonga paying £20m a season and then a few million extra for the academy?

Edited October 9, 2012 by Your Name Here

[Park Life 71]

Links? What did you need links for. I used to work for a company called the Associates (no Citi Financial), they were exactly the same as Wonga. My disgusting job at the time was a collector, basically bullying people in to sorting out arrears. In my time there, I remember at least two suicides directly attributable to debts, one family even wrote to us afterwards, which is why I feel so strongly about this. I remember one woman, single parent from Dewsbury she borrowed £3000 with an income of £9000 p/a, because her son needed the house altering because he was severely disabled and she was getting little help off the council. She lost her job, and had no insurance plan on it, and every time I used to ring she'd say "you're killing me off", I'd go home upset. THAT is why people go to these companies, they are utterly desperate, not because they want to fuck off to Las Vegas for the weekend. It's common sense, and plain to see that an association with a company who target poor people with a view to ripping them off. If people are comfortable with that that's entirely up to them, but I'm not.

 

Nor am I.

 

 

Debbie · Guildford Tech

 

I have to say I am guilty of using wonga in the past id never had ne problems and always paid my loans early or on time then to my horror things went pear shaped on a bank holiday weekend my loan was due and my bank had paid a dd early I tried to contact wonga straight away by email and telephone but had no response from them apart from texts saying I had defaulted and to get in touch with wonga. On my payday I checked my bank in the morning all was fine I tried to pay a bill before contacting wonga my payment was declined my bank was empty wonga had continually requested payments through my bank using my debit card details until my bank was empty this left me with no money and two children to feed one of which is dissabled, facts that wonga knew on my application , I eventually got through to wonga who then acknowledged id tried to contact them and offered me half the money they had taken as compensation for my distress although id have to pay this back with interest luckily my family stepped in paid the loan and helped me that week you cannot imagine the distress id felt I will never use these vultures again.

 

 

Graham

 

One thing that nobody seems to mention is Wonga's underhand way of getting a couple of extra quid. They apply for the first payment at 6am - way before the banks open - on the day the loan is due to be repaid. If this fails, they levy a charge and retry later that night. It usually works out cheaper to take it over an extra day, to allow you to make sure the money is available on the day they actually request it.

 

 

 

 

 

There are literally hundreds of these all over the web. I only looked for 15 seconds. ·

Edited October 9, 2012 by Park Life

[JawD 99]

Its quite a cute move really. They must have anticipated a backlash about the name and so got them to put the stadium back to appease fans. A good point was made on the radio though that while Wonga are morally questionable up front, most companies that sponsor shirts are if you look at them closely. Gambling companies? Standard Charter? etc.

[ChezGiven 0]

Links? What did you need links for. I used to work for a company called the Associates (no Citi Financial), they were exactly the same as Wonga. My disgusting job at the time was a collector, basically bullying people in to sorting out arrears. In my time there, I remember at least two suicides directly attributable to debts, one family even wrote to us afterwards, which is why I feel so strongly about this. I remember one woman, single parent from Dewsbury she borrowed £3000 with an income of £9000 p/a, because her son needed the house altering because he was severely disabled and she was getting little help off the council. She lost her job, and had no insurance plan on it, and every time I used to ring she'd say "you're killing me off", I'd go home upset. THAT is why people go to these companies, they are utterly desperate, not because they want to fuck off to Las Vegas for the weekend. It's common sense, and plain to see that an association with a company who target poor people with a view to ripping them off. If people are comfortable with that that's entirely up to them, but I'm not.

Not a pay day loam company then Thats loan sharks. Borrowed 3000 from a pay day lender means their pay slip is bigger than 3000.

 

You cant get into arrears with a pay day loan company as you need to have pay going into your bank to get it and the day the pay goes in, you pay it back. You cant take a loan out for more than you earn and you cant roll over the loan as it debited directly.

[ChezGiven 0]

Nor am I.

 

 

Debbie Morris · Guildford Tech

 

I have to say I am guilty of using wonga in the past id never had ne problems and always paid my loans early or on time then to my horror things went pear shaped on a bank holiday weekend my loan was due and my bank had paid a dd early I tried to contact wonga straight away by email and telephone but had no response from them apart from texts saying I had defaulted and to get in touch with wonga. On my payday I checked my bank in the morning all was fine I tried to pay a bill before contacting wonga my payment was declined my bank was empty wonga had continually requested payments through my bank using my debit card details until my bank was empty this left me with no money and two children to feed one of which is dissabled, facts that wonga knew on my application , I eventually got through to wonga who then acknowledged id tried to contact them and offered me half the money they had taken as compensation for my distress although id have to pay this back with interest luckily my family stepped in paid the loan and helped me that week you cannot imagine the distress id felt I will never use these vultures again.

 

Reply · 2 · · September 22, 2011 at 1:02am

Andrew Smith · Marketing & External Affairs Director at ClearDebt

This looks like one of the ways a lender like Wonga might differ from a mainstream bank.

 

My old Mum had a similar incident (she's disabled but lives at home and insists on doing her own book-keeping as far as her care package is concerned). An error 9hers) meant she went overdrawn when a carer was paid twice. She didn't notice and the bank piled on daily charges through the month. However, as soon as this was pointed out they put everything right and restored all the money!

 

It seems high cost lenders might not be as forgiving. It would be great if they'd turn up here and defend themselves, however."

Shit examples of mistakes happening, its a risky business using a pay day lender if things go wrong but those arent examples really. I would expect to you to be able to find at least 2 where lives were fucked up by this. I've seen lives fucked up by high street bank charges though, in more distressing ways than that.

 

Try again, i'm willing to look at all the evidence first and then show you how hypocritical you are.

[ChezGiven 0]

Pleased and surprised to see SJP reinstated. Should never have been renamed.

 

Some details would be nice. How much have Wonga paid for the naming rights? How much for the shirt sponsorship? Is the money for the academy extra money? Are these actually separate deals or just being redistributed from one 'central' sponsorship. Is the money for the academy on top of the existing budget, or merely replacing it?

 

The VM deal was worth up to £10m a season. The naming rights for the stadium were estimated to be worth £10m a season. Are Wonga paying £20m a season and then a few million extra for the academy?

Be interesting to see the details, there so much smoke and mirrors about it all the only way to be 100% clear will be with the accounts in a few years time.

[Guest Your Name Here]

Its quite a cute move really. They must have anticipated a backlash about the name and so got them to put the stadium back to appease fans. A good point was made on the radio though that while Wonga are morally questionable up front, most companies that sponsor shirts are if you look at them closely. Gambling companies? Standard Charter? etc.

Few companies are whiter than white. The problem with a company like Wonga is they are symbolic of a morally bankrupt society. Taking their money reflects badly on NUFC.

[McFaul 35]

Not a pay day loam company then Thats loan sharks. Borrowed 3000 from a pay day lender means their pay slip is bigger than 3000.

 

You cant get into arrears with a pay day loan company as you need to have pay going into your bank to get it and the day the pay goes in, you pay it back. You cant take a loan out for more than you earn and you cant roll over the loan as it debited directly.

The principle remains the same, people in all sorts of shit circumstances use their facilities because of desperation, and they're all too keen to cash in on their situation.

[Andrew 4759]

Few companies are whiter than white. The problem with a company like Wonga is they are symbolic of a morally bankrupt society. Taking their money reflects badly on NUFC.

 

who is actually thinking about that? outside of NUFC fans with axes to grind against companies like wonga anyway.

[Kid Dynamite 7030]

RTG was having a countdown to hearing our new stadium name

 

They were gutted! http://www.readytogo.net/smb/showthread.php?t=734832&page=26

[Park Life 71]

Wonga’s light-hearted adverts may have you thinking they’re a fun and easy place to borrow from, but fact is, they’re frightfully aggressive in getting payback. There have been a number of complaints by people who have never had Wonga payday loans, yet the fast-cash lender took funds from their bank account or credit card.

Consider these cases of people done wrong by Wonga:

1) Katie was out shopping when her debit card was declined and she wasn’t sure why. She phoned her bank and was told that Wonga had taken five debits against her account even though she did not have any payday loans with them. She contacted Wonga and they agreed the taking was improper and told her to work with her bank for a refund.

When she went into her bank to close the account to prevent further fraud, Katie found that Wonga had cleaned her out – taking a total of £370. They had even taken out five more payments after she had called them to report the fraud!"

 

http://www.empirecla...sumers-furious/

 

 

When Katie initially discovered money missing she phoned her bank and was told that five separate payments to payday lender Wonga had come out of her account, even though she’d not taken out a loan from the provider.

The 31-year-old phoned Wonga and a customer service representative confirmed that she did not have a loan with them. But rather than simply give her cash back, she was told that in order to recover the stolen money she would have to post the lender her bank statement.

She went back to her bank which said because the transactions were 'pending' – meaning the money was due to come out but hadn’t actually left her account – the best option would be to take the extreme step of closing it.

Katie was annoyed about the inconvenience but wanted to stop further fraud on her account. As she had a payment due into her account the next day the bank advised her to wait until it had cleared before closing her account.

Read more: http://www.thisismon...l#ixzz28oS5D1gz

 

 

The company has already attracted formal censure over its cheerfully casual approach to taking on debt; in January

it was forced to remove a page from its website that suggested its loans had advantages over student loans (neglecting to mention its APR of 4,214% and the current student loan rate of 1.5%), and inviting students to borrow money from them for things such as holiday flights to the Canaries. The proposal was condemned variously as "cynical", "predatory" and "irresponsible". The Advertising Standards Authority took an earlier, equally jaunty ad off the air, ruling that the "light-hearted presentation of the ad was likely to mislead about the nature and implications of the product". Transport for London was criticised for a sponsorship deal it agreed with Wonga."

Edited October 9, 2012 by Park Life

[Toonpack 9429]

Nor am I.

 

 

Debbie · Guildford Tech

 

I have to say I am guilty of using wonga in the past id never had ne problems and always paid my loans early or on time then to my horror things went pear shaped on a bank holiday weekend my loan was due and my bank had paid a dd early I tried to contact wonga straight away by email and telephone but had no response from them apart from texts saying I had defaulted and to get in touch with wonga. On my payday I checked my bank in the morning all was fine I tried to pay a bill before contacting wonga my payment was declined my bank was empty wonga had continually requested payments through my bank using my debit card details until my bank was empty this left me with no money and two children to feed one of which is dissabled, facts that wonga knew on my application , I eventually got through to wonga who then acknowledged id tried to contact them and offered me half the money they had taken as compensation for my distress although id have to pay this back with interest luckily my family stepped in paid the loan and helped me that week you cannot imagine the distress id felt I will never use these vultures again.

 

 

Graham

 

One thing that nobody seems to mention is Wonga's underhand way of getting a couple of extra quid. They apply for the first payment at 6am - way before the banks open - on the day the loan is due to be repaid. If this fails, they levy a charge and retry later that night. It usually works out cheaper to take it over an extra day, to allow you to make sure the money is available on the day they actually request it.

 

There are literally hundreds of these all over the web. I only looked for 15 seconds. ·

 

Number one example - requesting and/or paying a DD early breaks BACS rules, banks cannot do it. IF they did they broke the rules. Also how could Wonga empty his account ?? seriously.

 

Number two example - banks run their debits before they run their credits at start of day, a payment requested at 6.00 a.m. is irrelevant it will have been processed for payment the next day by the payee and the time of the debit transaction will have been "stamped" by the banks clearing system. The debits before credits is a great scam for the High Street banks btw because even if you paid in money before banking hours started to cover a debit coming out they'd still refuse the debit, hit you with a refused DD charge and THEN process the credits - they all do it and I wonder why ???.

 

Look for complaints about high street banks Parky, you'll find as many.

Edited October 9, 2012 by Toonpack

[Christmas Tree 4725]

The principle remains the same, people in all sorts of shit circumstances use their facilities because of desperation, and they're all too keen to cash in on their situation.

 

And what would these "desperate" people do if they couldn't use Wonga?

 

For most people facilities like this are a short term fix.

 

Of course some will treat the product irresponsibly just as some treat alcohol or gambling irresponsibly.

[Craig 6682]

The principle remains the same, people in all sorts of shit circumstances use their facilities because of desperation, and they're all too keen to cash in on their situation.

 

Principally it is different though. With a payday loan company you can't borrow more than you earn. Fundamental difference.

[Guest Your Name Here]

Be interesting to see the details, there so much smoke and mirrors about it all the only way to be 100% clear will be with the accounts in a few years time.

Is it ever any other way? MA is playing games with the club and it's supporters. It's been one controversy after another for five years. I for one am sick of it.

[Park Life 71]

I really wouldn't get into hypocrasy with me today Chez. You know as well as I do this is a toxic brand.

Edited October 9, 2012 by Park Life

[Kid Dynamite 7030]

Links? What did you need links for. I used to work for a company called the Associates (no Citi Financial), they were exactly the same as Wonga. My disgusting job at the time was a collector, basically bullying people in to sorting out arrears. In my time there, I remember at least two suicides directly attributable to debts, one family even wrote to us afterwards, which is why I feel so strongly about this. I remember one woman, single parent from Dewsbury she borrowed £3000 with an income of £9000 p/a, because her son needed the house altering because he was severely disabled and she was getting little help off the council. She lost her job, and had no insurance plan on it, and every time I used to ring she'd say "you're killing me off", I'd go home upset. THAT is why people go to these companies, they are utterly desperate, not because they want to fuck off to Las Vegas for the weekend. It's common sense, and plain to see that an association with a company who target poor people with a view to ripping them off. If people are comfortable with that that's entirely up to them, but I'm not.

 

Either you are talking shite or she was. As a community nurse I see hundreds of disabled people in their own homes. All fully fitted out with the gear needed by the council. Nee fucker needs to go to wonga to get handrails and a bath lift put in Stevie, pull the other one

[McFaul 35]

Principally it is different though. With a payday loan company you can't borrow more than you earn. Fundamental difference.

Say you earn £1500 a month you're a single parent mum, you have £20 a month disposable income and that goes on more comfortable fanny pads, your heating is fucked, the bairn is cold you need a quick fix so need to borrow £500. You get the job done, and end up paying someone £100 more than you initially borrowed over a 2 week loan, when you're already skint. These are situations that happen every single day, this company are no better than legalised cockney loan sharks.

[McFaul 35]

Either you are talking shite or she was. As a community nurse I see hundreds of disabled people in their own homes. All fully fitted out with the gear needed by the council. Nee fucker needs to go to wonga to get handrails and a bath lift put in Stevie, pull the other one

I'm not talking shite at all, this was the information we were supplied with from her when I worked at Doxford Park with all those cunts making my ears bleed on a daily basis. I couldn't give a fuck about someone I respect so little questioning my integrity anyway.

 

The problem with you is you strive for an alternative view to make yourself look more interesting, when it just makes you look a mug. A very very good friend of mine suffers from exactly the same affliction. These types are everywhere on here. Wonga are wonguns end of story, regardless how you dress it up.

[Guest Your Name Here]

And what would these "desperate" people do if they couldn't use Wonga?

 

For most people facilities like this are a short term fix.

 

Of course some will treat the product irresponsibly just as some treat alcohol or gambling irresponsibly.

They'd use illegal loan sharks.