Why didn't I think of that !

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These people have to be making a killing, its bound to be popular with the student/teenage demographic who need a few quid for important things like xboxs, nights out etc...

www.wonga.com
 
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Typical APR about 3000%.

Its another way of getting into debt. I mean, who's going to use it? People already in debt and with nowhere else to get money. Most people have credit card and cash advance or overdraft facilities.

Its the bailiffs who will make a killing on this.
 
yep the bailliffs will be rubbing their hands together. It says further on that they do not escalate costs after the payment period is up, only that they pass the debt on to a recovery team. So a week after you borrow the money the bailliffs costs will start going on!
This is not a small scale operation though. National advertising and even being mentioned in various publications.
 
These organisations should be banned.

Join your local Credit Union and even if you never need to borrow from them you will have a nice warm fuzzy feeling knowing that you are helping your local community.
 
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