Those adverts for instant money make me see red!

[nkf]

I'm not usually one for shouting at the TV but I hate hate hate those companies that promise you money in your account really quickly (because they are so kind right?) even if other banks have turned you down (there was a reason for that!). You know the ones - they have massive APR rates printed in an itsy bitsy font size.

I know freedom etc, legitimate business, individual choice etc blah blah blah but I still hate them.

I feel better for ranting on here though.

I know the ones you mean, they do need regulating.

Some people will be able to repay them and others are going to be in a whole load of trouble with them.

I can't imagine they ever make things better. If you need cash that quick and are prepared to pay that rate of interest, you are in big trouble financially. And what happens if you don't repay? Do they send round bailiffs? I don't know why I find them so maddening. I think it's the way they make it look easy. Just say how much you need... All in that friendly tone.

Some people are just crap with money though and dont seem to realise it.

One of our relatives earnt £6500 a month. His company paid for both the cars and his petrol. After the first week all the money was gone and they lived on cc for the rest of the month. His DW earnt £500 a month and put that into the joint account too. They just frittered it away and he's gone bankrupt and lost the house (plus taken all the kids savings for uni/house deposits). They never saw themselves as being in trouble financially .

Heard on the news today that pay day loans (I assume that is what you are talking about) will now show under a seperate section on credit reports so mortgage providers/banks will be able to pick out those prospective customers who rely on them (and then refuse them no doubt). They are a terrible thing I agree.

I have a feeling they already take them into account, LadyKooKoo.