cheque centre

**wilf** · 12 April, 2011, 20:16

same as wonga dot com ?400 over 2 weeks apr 4021% payback ?469 there must be some desperate people out there taking up these wonderful deals

**Canker_Canison** · 12 April, 2011, 21:18

I'm not defending them, but there are people out there who need the money fast & don't mind paying extra.

The car needs two new tyres. You can't afford it now, but next month you'll have the money to buy them. That week you get a puncture. The garage won't repair it as the tyre is border line illegal.
So you get the money from one of these companies & get the tyres straight away... Paying it off when you get paid, plus a little extra.

**mark8393** · 13 April, 2011, 00:00

Originally posted by Canker_Canison

I'm not defending them, but there are people out there who need the money fast & don't mind paying extra.

The car needs two new tyres. You can't afford it now, but next month you'll have the money to buy them. That week you get a puncture. The garage won't repair it as the tyre is border line illegal.
So you get the money from one of these companies & get the tyres straight away... Paying it off when you get paid, plus a little extra.

come on, 2 tyres, you get a couple of used runners, ?30 max, no need to go the cheque way, if you do your in the shit. you just cut back that week on things you dont need, fags and beer etc. never been in debt, never will be, mugs game, cant afford it, dont have it.

**Canker_Canison** · 13 April, 2011, 13:27

It was only an example. Try telling a friend of mine he can get part worns for ?30. The cheapest he's had quoted for his car is about ?120 per tyre, that's for a crap make, gonna cost him closer to ?200 per tyre for the same as currently fitted.
But his car does use race spec tyres.

**thered** · 13 April, 2011, 13:44

i understand they pray on the needy and offer quick fix short term loans that are ridiculously high in interest

but they do operate in a market that is notorious for none payment and moonlight flits

i would never ever get a loan for anything that was under a ?1000 if i needed cash i would borrow from family or get someone to go guarantor for HP as i myself i currently on the credit blacklist

some people however unfortunately cannot count on that so have to use these outlets which is a shame but at the same time i know people who use them just to have a night out and then moan they are skint

low income families can use social or crisis loans as interest free loans from benefits if they are desperate for household goods and clothes and should be used whenever possible instaed of these quick fix loans

**thered** · 13 April, 2011, 13:49

Originally posted by Canker_Canison

It was only an example. Try telling a friend of mine he can get part worns for ?30. The cheapest he's had quoted for his car is about ?120 per tyre, that's for a crap make, gonna cost him closer to ?200 per tyre for the same as currently fitted.
But his car does use race spec tyres.

i like it cant afford ~~~ all but needs racing spec tyres

my advice is if you cant afford something like a tyre or tyres and need to get a loan for them is get a cheaper runabout why do people always want to live above there means ?

it only brings more struggle

**barrowmanandrew** · 13 April, 2011, 14:29

these check centres etc are nothing new,
various companies have been ripping of the less well of in society for years now.

companies like provident, greenwoods, shoppacheque have been getting away with murder for years.

the problem with money lending is that the people that need it the most are more risky,
so major banks etc wont touch them.
this leaves the door open for these ~~~~ers to hold people to ransom and charge what they like.....

its easy to say just cut back or do without....

but can you imagine how hard it would be for a single parent or family on the dole with a couple of kids, two weeks before christmas to knock back one of these loans?

the vast majority will just take it and worry about the payments later...

there is no easy answer to this,
but surely there should be a cap on interest rates to help the most vunerable people in society.

i know it makes no sense to lend out cash to risky clients, but surely the banks have to do more than they are doing.

especially after the bail out.

i mean,
million plus bonuses for top *ankers and they are knocking people back for ?100 overdraughts ffs.....

**oneman** · 13 April, 2011, 15:01

Originally posted by barrowmanandrew

its easy to say just cut back or do without....

but can you imagine how hard it would be for a single parent or family on the dole with a couple of kids, two weeks before christmas to knock back one of these loans?

the vast majority will just take it and worry about the payments later...

This is the problem, people can't say no when they really should be. There is no need to give expensive presents at xmas. How many times have you seen people on social having flat screen TV, PS3, latest phone, etc. Unless they are getting too much payments then it has to be on credit.

Also some of the these people are in debt because they have not paid attention to financials before so publishing interest rates makes the ad legal but a waste of time for these people.

What to do about it ? Don't know but these companies much have a finanace license to operate so they are legit in that sense and don't think there is anything the law can do about it.

**230262** · 13 April, 2011, 16:14

cheque centre

Why don't you make the ( WATCHDOG ) programme on BBC aware of this and get them to investigate?????

**Shady** · 13 April, 2011, 16:20

face it folks..they type of peeps who would use this service anyway are the types who cant get credit elsewhere... 90% of these people will be non payers..they wont be paying it back so whats the prob with the interest?

**Lainie** · 13 April, 2011, 19:04

i had to get 2 new tyres for my car last week - ?90. i dont and never have had a family member to borrow from. even if i did i dont think i would ask them.

i just couldnt believe they could advertise that on tv.

**bonus2010** · 13 April, 2011, 20:18

I've thought about this deal all afternoon, and I'm struggling to say it's the worst deal I've ever saw....

We're speaking about a short-term, small amount loan, where the interest charged is ?1.21 /day..

I've seen banks charge a lot more to borrow than this.... (thinking about going over your non-pre arranged overdraft)

**Canker_Canison** · 15 April, 2011, 17:17

I've just heard of someone who received a call from their bank because it was ?180 OD. But he hadn't used the account in months.
Turns out there was a clause in the T's & C's about minimum payments into the account per month. Because he wasn't using it they started charging ?5 PER DAY until he put the minimum amount into the account (Per month).

He had all the charges removed & told them to close the account.

The short term loans companies have been investigated by a government body I forget the name of. They concluded that they do offer a service that isn't supported by the major financial companies. They also stated that of all the loans companies these were the most open & clear on total repayments & APR.

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