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Loan sharks oxendales fined €8000

  • 24-09-2013 11:04am
    #1
    Scaramanga 4
    Closed Accounts Posts: 68 ✭✭


    Dangerous lone sharks oxendales have been fined €8000 for offering unwanted loans. www.belfasttelegraph.co.uk/news/local-national/republic-of-ireland/moneylender-fined-for-loan-offer-29587901.html


Comments

  • #2
    Scaramanga 4
    Closed Accounts Posts: 68 ✭✭Scaramanga 4


    www.belfasttelegraph.co.uk/news/local-national/republic-of-ireland/moneylender-fined-for-loan-offer-29587901.html


  • #3
    DwightSchrute1
    Registered Users, Registered Users 2 Posts: 309 ✭✭DwightSchrute1


    Dangerous Loan Sharks....is that a sequel to Sharknado?


  • #4
    IvaBigWun
    Banned (with Prison Access) Posts: 5,368 ✭✭✭IvaBigWun


    Scaramanga 4 wrote: »
    www.belfasttelegraph.co.uk/news/local-national/republic-of-ireland/moneylender-fined-for-loan-offer-29587901.html

    The likes of these and Wonga etc should be as illegal as heroin.


  • #5
    Wossack
    Registered Users, Registered Users 2 Posts: 7,044 ✭✭✭Wossack


    8k? I'd say that made a dent..


    funny fact doing the rounds about wonga.coms APR. Take a £100 loan from them at their typical low low APR of 4200% (!), and if after a year you've not made any repayments, you owe them £4200.
    After 2, you owe them £180,000
    After 5, £13 billion..


  • #6
    theLegion
    Closed Accounts Posts: 38 ✭theLegion


    ^



    OMG!!! There's a Shark in the water....


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  • #7
    Banjo String
    Closed Accounts Posts: 14,380 ✭✭✭✭Banjo String


    We're gonna need a bigger fine.


  • #8
    razorblunt
    Registered Users, Registered Users 2 Posts: 17,300 ✭✭✭✭razorblunt


    Putting the fin into finance.
    A great bunch of lads.


  • #9
    anncoates
    Closed Accounts Posts: 13,925 ✭✭✭✭anncoates


    Am I the only one that always thinks of this when I see those ads for Wonga?

    https://www.youtube.com/watch?v=-6G5SVY0DQU


  • #10
    silverharp
    Registered Users, Registered Users 2 Posts: 18,854 ✭✭✭✭silverharp


    was everyone out the day they did compound interest?

    A belief in gender identity involves a level of faith as there is nothing tangible to prove its existence which, as something divorced from the physical body, is similar to the idea of a soul. - Colette Colfer



  • #11
    shruikan2553
    Closed Accounts Posts: 6,113 ✭✭✭shruikan2553


    I dont see the problem with these things as long as they warn you that if you borrow €X you will have to pay back €X+Y next month.


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  • #12
    Rented Mule
    Registered Users, Registered Users 2 Posts: 5,153 ✭✭✭Rented Mule


    shruikan2553 wrote: »
    I dont see the problem with these things as long as they warn you that if you borrow €X you will have to pay back €X+Y next month.

    Problems with Irish people borrowing money ??

    How could that ever go wrong ?


  • #13
    gobnaitolunacy
    Closed Accounts Posts: 3,073 ✭✭✭gobnaitolunacy


    Thought all they did was sell mail order clothes for big birds.


  • #14
    Capt'n Midnight
    Moderators, Recreation & Hobbies Moderators, Science, Health & Environment Moderators, Technology & Internet Moderators Posts: 93,567 Mod ✭✭✭✭Capt'n Midnight


    shruikan2553 wrote: »
    I dont see the problem with these things as long as they warn you that if you borrow €X you will have to pay back €X+Y next month.
    it's only that simple if you pay on time

    From Wonga.Com for £150 for 18 days

    on day 18 it would be £150 + £33.49
    on day 19 it's £150 + £33.49 + £30 + £2.13 (not sure if the €10 fee also applies
    ... Your bank may also charge you for refusing our payment requests - this can add up quickly too



    http://www.wonga.com/money/how-to-wonga/
    Representative example

    Amount of credit: £150 for 18 days. Interest: £27.99. Interest rate: 365%pa (fixed).

    Transmission fee: £5.50. One total repayment of: £183.49. Representative 5853% APR

    ...

    If you don’t repay on time:

    You’ll be charged a £30 missed payment fee. We may report this to credit reference agencies.


    Representative 5853% APR :eek:


  • #15
    shruikan2553
    Closed Accounts Posts: 6,113 ✭✭✭shruikan2553


    Rented Mule wrote: »
    Problems with Irish people borrowing money ??

    How could that ever go wrong ?

    True.
    Capt'n Midnight wrote: »
    it's only that simple if you pay on time

    From Wonga.Com for £150 for 18 days

    on day 18 it would be £150 + £33.49
    on day 19 it's £150 + £33.49 + £30 + £2.13 (not sure if the €10 fee also applies
    ... Your bank may also charge you for refusing our payment requests - this can add up quickly too



    http://www.wonga.com/money/how-to-wonga/



    Representative 5853% APR :eek:

    No different from any other loan. Its just these are aimed at people who won't be given a bank loan/overdraft or a credit card. It is like the irish and mortgages, take some money being offered, cant repay it, blame the person who offered you the money.


  • #16
    Mykola
    Closed Accounts Posts: 88 ✭✭Mykola


    I don't think the interest on an oxendale loan is too bad€ 300 over 12 months = .€355 interest €55 Apr 39%


  • #17
    martinedwards
    Registered Users, Registered Users 2 Posts: 2,045 ✭✭✭martinedwards


    the payday lenders are OK so long as you pay back soon and don't run up the massive interest.

    in fact, it can be CHEAPER to borrow 200 from Wed til fri than it is to go overdrawn at the bank without permission.

    Sadly, Wonga exists to screw stupid people out of their money.

    and they do it very well......


  • #18
    Sh1tbag OToole
    Closed Accounts Posts: 3,973 ✭✭✭Sh1tbag OToole


    shruikan2553 wrote: »
    I dont see the problem with these things as long as they warn you that if you borrow €X you will have to pay back €X+Y next month.

    Even if Y is infinity and the font size used to warn you is 1/infinity?


  • #19
    Uepped
    Closed Accounts Posts: 60 ✭✭Uepped


    They refused to give me just €15


  • #20
    PizzamanIRL
    Registered Users, Registered Users 2 Posts: 5,147 ✭✭✭PizzamanIRL


    Uepped wrote: »
    They refused to give me just €15

    You actually asked for €15?


  • #21
    ebbsy
    Registered Users, Registered Users 2 Posts: 7,069 ✭✭✭ebbsy


    Uepped wrote: »
    They refused to give me just €15


    BASTARDS


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  • #22
    Renegade Mechanic
    Registered Users, Registered Users 2 Posts: 7,934 ✭✭✭Renegade Mechanic


    15 quid. Were you hungry or something?:D


  • #23
    biko
    Registered Users, Registered Users 2 Posts: 81,220 ✭✭✭✭biko


    Could you not just rob a piggy bank?


This discussion has been closed.
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