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The stadium, named the Sports Direct Arena after Mr Ashley's sportswear retailer, will be renamed Wonga.

 

I thought you lot were joking about that bit. As disgraceful as each other anyway.

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not s*** either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it f***ing shouldn't be.

 

aye, just wong on so many levels

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The stadium, named the Sports Direct Arena after Mr Ashley's sportswear retailer, will be renamed Wonga.

 

I thought you lot were joking about that bit. As disgraceful as each other anyway.

It's not actually possible to process this news. Just another surreal turn in NUFC decision making. I am really angry about it but don't feel in the least bit angry. Know I will be if it's true though

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not shit either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it fucking shouldn't be.

 

To be fair it's not as if it isn't declared.

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"I'm away to Wonga for the match"

 

"How do you get to Wonga from here?"

 

"The teams are coming out at Wonga"

 

Can't think of a sentence where you wouldn't sound like an almighty dickhead.

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I hope to god this isn't true. A company that makes SportsDirect seem like Harrods. :anguish:

 

The whole thing is bullshit, I have said before I'd prefer to keep our dignity/heritage and not have £whatever in return but if they're to get someone at least try and get a not fucking horrific brand.

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It's hardly a wonder our turnover level is stagnant with the type of brand image the club have created. Cheap and nasty. If I owned a popular company, the last last place I would want it being advertised would be next to a Sports Direct banner in the Wonga Stadium.

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Oh jesus.  :sad:

 

For me there isn't a more slappable face on tv that this.

 

http://gifsoup.com/webroot/animatedgifs/179624_o.gif

 

 

I think I'm developing diabetes just looking at that fat mug.

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not shit either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it fucking shouldn't be.

 

To be fair it's not as if it isn't declared.

Only because it has to be, they go as far as the possibly can to disguise the fact.

How can that level of interest ever be fair?

Also how can these loans which are offered to people who obviously can't be given credit via other means be handed to them without the possibility of building their credit rating to escape companies like them? (gaining a loan from Wonga can actually worsen your credit rating even if you do pay it off without defaults as other companies will look at who you are dealing with, coming to the conclusion that you are obviously desperate for finance and opting not to take the chance on you because you quite liekly won't have the funds to pay them back if your that desperate for money).

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not shit either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it fucking shouldn't be.

 

To be fair it's not as if it isn't declared.

Only because it has to be, they go as far as the possibly can to disguise the fact.

How can that level of interest ever be fair?

Also how can these loans which are offered to people who obviously can't be given credit via other means be handed to them without the possibility of building their credit rating to escape companies like them? (gaining a loan from Wonga can actually worsen your credit rating even if you do pay it off without defaults as other companies will look at who you are dealing with, coming to the conclusion that you are obviously desperate for finance and opting not to take the chance on you because you quite liekly won't have the funds to pay them back if your that desperate for money).

 

Sorry but I have no sympathy, as said they have to state the terms and if people can't get credit apart from going to companies like this they have gotten themselves into that position.

 

They are extortionate fuckers but they don't force loans onto people.

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I can see it now.

 

"Since our sponsorship with Virgin money has ended so too has the reasonable monthly payment plans for seasons tickets, fear not though our new Sponsorship with Wonga offers you the chance to pay for your season ticket for only £6,789.99 per month for the next 48 months".

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not shit either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it fucking shouldn't be.

 

To be fair it's not as if it isn't declared.

Only because it has to be, they go as far as the possibly can to disguise the fact.

How can that level of interest ever be fair?

Also how can these loans which are offered to people who obviously can't be given credit via other means be handed to them without the possibility of building their credit rating to escape companies like them? (gaining a loan from Wonga can actually worsen your credit rating even if you do pay it off without defaults as other companies will look at who you are dealing with, coming to the conclusion that you are obviously desperate for finance and opting not to take the chance on you because you quite liekly won't have the funds to pay them back if your that desperate for money).

 

Well, that's their marketplace. High risk lending to a customer base with no or few assets and negligible credit worthiness. That's why they charge those rates of interest. It's priced for risk and profitability. Obviously in an ideal world people would all have access to at least a basic bank account or credit union current account, but not everyone in the world is born good with money in any case, so even if they did have access to affordable credit they'd need to have the necessary financial/budgeting capabilities.

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Not saying it's ethically right targetting struggling people etc, but the interest rates are ludicrously high purely because of the short term they loan for but them having to declare the rate based on a full year. A normal unsecured loan for someone with a good credit rating and income is about 6% APR. If a company like Wonga were willing to lend you £100 for a month at that rate they'd make about 50p from it. Hardly a sustainable business model.

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Dafuq is Wonga?

A payday loan company that charges interest rates of about 3333% (not shit either, it actually does). There has been calls from politicians, members of the public, and even journalists that companies like them should be banned.

 

If their interest rates weren't bad enough they clearly target those who can't get credit and to make matters worse even if a customers payed back their loan on time and didn't default on payments then it does not positively effect their credit score.

 

How is that legal? :lol:

Thats the big question, it fucking shouldn't be.

 

To be fair it's not as if it isn't declared.

Only because it has to be, they go as far as the possibly can to disguise the fact.

How can that level of interest ever be fair?

Also how can these loans which are offered to people who obviously can't be given credit via other means be handed to them without the possibility of building their credit rating to escape companies like them? (gaining a loan from Wonga can actually worsen your credit rating even if you do pay it off without defaults as other companies will look at who you are dealing with, coming to the conclusion that you are obviously desperate for finance and opting not to take the chance on you because you quite liekly won't have the funds to pay them back if your that desperate for money).

 

Sorry but I have no sympathy, as said they have to state the terms and if people can't get credit apart from going to companies like this they have gotten themselves into that position.

 

They are extortionate fuckers but they don't force loans onto people.

You do know people can get poor credit ratings for legitimate reasons right?

Simply applying for the wrong type of credit cards can seriously damage your credit rating even though you are responsible financially, also things like companies still billing you for services despite you cancelling contracts/subscriptions can also damage your credit rating, and their many more reasons. Sometimes for a period of time it's only companies like these who will offer finance and if you need it (even if it's for a brief period of transition) then what other option is there?

 

Also they do not and do not have to by law inform you that your credit rating will not be effected even upon full payment without default, Buy as you view are similar in this respect.

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