How Long Before Newcastle Drop Wonga Sponsorship?

[Aizoon]

Not good for their image, is it? http://www.bbc.co.uk/news/business-29457044

Do we really want our historic purple and lime colours associated with this sort of thing?

[cidered abroad]

I would be seriously upset if City ever used a "pound of flesh" type money lender like Wonga.

Governments should make such lending illegal. But they only exist because companies are allowed to pay peanuts to their workers. How long before we are back to the days of the Victorian workhouse?

[Calculus]

I would be seriously upset if City ever used a "pound of flesh" type money lender like Wonga.

Governments should make such lending illegal. But they only exist because companies are allowed to pay peanuts to their workers. How long before we are back to the days of the Victorian workhouse?

 

Actually they exist because people are dumb enough to deal with them. Whatever your financial problems they won't be helped by dealing with the likes of Wonga. The only good thing you could say about them is they don't that engage in the violence and criminality that comes with street lenders/loan sharks. I suspect with the latest ruling Wonga won't now lend to those at the bottom end, so I suppose a good day for loan sharks who should expect an upturn in business. Be careful what you wish for.

[Loco Rojo]

Um, they exist because they are not regulated, can therefore charge what they want, and there is a market for it as their customers are unlikely to find credit from regulated banks.. Nothing to do with how much they pay their staff.

I do agree though, i would be gutted if City ever associated themselves with a company like this.

[Slack Bladder]

About the same time they drop Pardew, I imagine.

[WTFiGO!?!]

Not good for their image, is it? http://www.bbc.co.uk/news/business-29457044

Do we really want our historic purple and lime colours associated with this sort of thing?

Think it's other players in this exploitative market that need to follow wonga's lead, here.

[kiwicolin]

If Wonga changes their name , what will Newcastle do with all the shirts ?

And the fans with their shirts ?

[Aussie]

In terms of complains to regulators and watchdogs, credit card companies and short term loan firms are number 1 in number of complaints.

Yet they continue unhindered.

[Nick Wilde]

Newcastle and Blackpool both doing well and loving life with wonga sponsorship.

[MarcusX]

I hope this doesn't turn into the usual debate about people who use these loan companies.

They give money to people who certainly should not be able to access it. I bet a huge percentage of their client base are desperate people, addicts of some kind, or people already in financial difficulty.

[Aussie]

[Red-Robbo]

[Mad Cyril]

I drink too much beer.

I do not however blame the brewery or the regulator for this. And if that brewer was closed down I would simply transfer to another provider.

[And Its Smith]

Actually they exist because people are dumb enough to deal with them. Whatever your financial problems they won't be helped by dealing with the likes of Wonga. The only good thing you could say about them is they don't that engage in the violence and criminality that comes with street lenders/loan sharks. I suspect with the latest ruling Wonga won't now lend to those at the bottom end, so I suppose a good day for loan sharks who should expect an upturn in business. Be careful what you wish for.

Ah the simplistic view. It's like saying alcoholics are dumb enough to drink alcohol.

[Calculus]

Ah the simplistic view. It's like saying alcoholics are dumb enough to drink alcohol.

Ridiculous, and btw nothinglike alcoholism. Signing up for a short term loan at insane interest rates is dumb. People might get themselves into difficulty for whatever reason but Wonga and Co will only make a bad situation worse. It is simple but even that seems beyond some. There was even some woman last night complaining that Wonga were at fault because they hadn't detected that she'd lied about her income on the application. Still, not to worry eh? As long as there are people like you around to tell others that they are victims and not at all responsible for their own situation we can all share in the guilt.

[Guest]

Ah the simplistic view. It's like saying alcoholics are dumb enough to drink alcohol.

 

Not quite, its like saying its dumb for alcoholics to blame the Brewery - a great analogy there Mad Cyril.

 

Wonga exist because they provide a service. Everyone knows what that service is and what the business model is. Everyone knows the dangers of abusing such a service but there can be little doubt for some who cannot obtain credit via traditional means and who pay off within the agreed plan it provides an invaluable resource.

 

As for shirt sponsorship I do not understand the furore one bit. We live in a capitalist world and Newcastle are well within their rights to accept sponsorship from the largest sponsor. Simple.

 

I don't turn Coronation Street off or feel repulsed because at 7:42 ITV broadcast a wonga advert.

[Aussie]

There are many other reasons why you should turn Coronation St off to be fair.

Quality, entertainment value etc...

[Monkeh]

pay day lenders would be a good thing if they were regulated and had resonable T&C's,

 

They don't at the moment and all they are is legal loan sharks,

[Guest]

There are many other reasons why you should turn Coronation St off to be fair.

Quality, entertainment value etc...

 

Not to mention Deirdre Rashid. I only watch in case that Sophie bird kisses her girlfriend.

[WTFiGO!?!]

I suspect Wonga do very nicely out of regular ITV viewers.

[And Its Smith]

Ridiculous, and btw nothinglike alcoholism. Signing up for a short term loan at insane interest rates is dumb. People might get themselves into difficulty for whatever reason but Wonga and Co will only make a bad situation worse. It is simple but even that seems beyond some. There was even some woman last night complaining that Wonga were at fault because they hadn't detected that she'd lied about her income on the application. Still, not to worry eh? As long as there are people like you around to tell others that they are victims and not at all responsible for their own situation we can all share in the guilt.

Thankfully when my ex walked out one month after buying a house and I got into serious financial difficulty, there wasn't places like Wonga to go to. When your bank rings you up 9 days after pay day concerned that you have no money left then it is extremely difficult. If Wonga had been around then I would definitely had visited them, and may I point out that I am not dumb.

When you don't know how you are going to feed yourself and are walking 5 miles to work every day as you cannot afford a car, bus, bike etc and there is a company offering you a break then you may well take it.

That doesn't make someone dumb. It makes you an ignorant tosser.

[Mike Litoris]

Ridiculous, and btw nothinglike alcoholism. Signing up for a short term loan at insane interest rates is dumb. People might get themselves into difficulty for whatever reason but Wonga and Co will only make a bad situation worse. It is simple but even that seems beyond some. There was even some woman last night complaining that Wonga were at fault because they hadn't detected that she'd lied about her income on the application. Still, not to worry eh? As long as there are people like you around to tell others that they are victims and not at all responsible for their own situation we can all share in the guilt.

Yeah, it's definitely dumb when you're trying to scrape together the finances to keep your heating on or restock your fridge?

 

You understand just how bad the cost of living crisis is at the very bottom in this country, right? The race to the bottom politics of this god-awful government have left over one-million people relying on food banks to survive. Millions of working people are below the poverty line, faced with decisions on whether their houses should be warm or their bellies full.

 

Deregulation, a symptom of Thatcherism that allows companies like Wonga to prey on the most desperate.

Blame and dismissal are attitudes symptomatic of that very Thatcherism and gutter press values that have crept into the mainstream in this country. I'm sure you, and others like you, feel that Dave's welfare cuts are a good thing? I mean, it must be their fault. Lazy scroungers...

 

Perhaps if we looked at the real causes, we might get somewhere near solving it. First place to start is the Tories. Probably a fine place to finish too.

 

http://www.huffingtonpost.co.uk/john-wight/austerity-conservative-party_b_4457888.html

[Mike Litoris]

Thankfully when my ex walked out one month after buying a house and I got into serious financial difficulty, there wasn't places like Wonga to go to. When your bank rings you up 9 days after pay day concerned that you have no money left then it is extremely difficult. If Wonga had been around then I would definitely had visited them, and may I point out that I am not dumb.

When you don't know how you are going to feed yourself and are walking 5 miles to work every day as you cannot afford a car, bus, bike etc and there is a company offering you a break then you may well take it.

That doesn't make someone dumb. It makes you an ignorant tosser.

 

Exactly. In times of desperation you try retaining logic when there is a way to survive another month advertised all over the shop. 

 

I pray that Calculus is never afflicted by poverty and misfortune. Although, with his superior intellect and ability to remain logical in any situation one would imagine he'd come out the other side smelling of roses. Perhaps as a social experiment he could trade places with someone in a terrible situation. He could write a book, teaching everyone the simplicity of getting yourself out of hardship in a society that is stacked against you. 

[Guest]

Thankfully when my ex walked out one month after buying a house and I got into serious financial difficulty, there wasn't places like Wonga to go to. When your bank rings you up 9 days after pay day concerned that you have no money left then it is extremely difficult. If Wonga had been around then I would definitely had visited them, and may I point out that I am not dumb.

When you don't know how you are going to feed yourself and are walking 5 miles to work every day as you cannot afford a car, bus, bike etc and there is a company offering you a break then you may well take it.

That doesn't make someone dumb. It makes you an ignorant tosser.

 

I get where you are coming from, I really do, but I don't think it does make him an 'ignorant tosser'.

 

The financial difficulties described above are terrible of course and you can completely understand why in those circumstances someone might get caught up in a pay day loan company, absolutely. But, there are many things I can understand and empathise with but which are nonetheless reckless (I prefer not to use 'dumb'). To use a pay day loan company to meet a long term shortfall in income v expenditure is, whilst understandable in dire circumstances, reckless, dumb if you prefer.

[Mike Litoris]

I get where you are coming from, I really do, but I don't think it does make him an 'ignorant tosser'.

 

The financial difficulties described above are terrible of course and you can completely understand why in those circumstances someone might get caught up in a pay day loan company, absolutely. But, there are many things I can understand and empathise with but which are nonetheless reckless (I prefer not to use 'dumb'). To use a pay day loan company to meet a long term shortfall in income v expenditure is, whilst understandable in dire circumstances, reckless, dumb if you prefer.

So, to simplify. 

• It's understandable in dire situations
• There is a cost of living crisis in the UK, currently. (In other words, there are millions of people in 'dire situations')

 

But, the problem is the people and not the deregulation that has allowed this vile company model to prey on those people in 'dire situations'?

 

Okay.

[BRISTOL86]

This topic always makes for a good read. I can see both sides of the argument but for me they're no different to any other industry which preys on the needy.

They are upfront about their APR and don't claim to be an excellent source of long term financing. If you don't know how much things cost you and you think you can't afford to repay it, then you shouldn't be using them. I get that people are desperate and feel they have no choice, but people are still responsible for their own actions. If you take out a loan you know you can't afford to repay at 3 billion % APR, that's your choice but you need to be aware of the implications.

It always has football fans up in arms, this, and I'm curious as to why no one ever gets the same way about associating with an alcohol company (for example) despite the number of deaths, crime, violence and other undesirable consequences that accompany its consumption by the "vulnerable".

[WTFiGO!?!]

This topic always makes for a good read. I can see both sides of the argument but for me they're no different to any other industry which preys on the needy.

They are upfront about their APR and don't claim to be an excellent source of long term financing. If you don't know how much things cost you and you think you can't afford to repay it, then you shouldn't be using them. I get that people are desperate and feel they have no choice, but people are still responsible for their own actions. If you take out a loan you know you can't afford to repay at 3 billion % APR, that's your choice but you need to be aware of the implications.

It always has football fans up in arms, this, and I'm curious as to why no one ever gets the same way about associating with an alcohol company (for example) despite the number of deaths, crime, violence and other undesirable consequences that accompany its consumption by the "vulnerable".

I find the debate a frustrating one.

Do people need to be told to put their shoes on when they leave the house or wipe their ass after taking a shit?

Yes, the government should be responsible for protecting society's vulnerable, but not to the extent that the vulnerable become de-skilled in the basic life essentials such as common sense.

Another element to this is what do we really mean by below the poverty line? I try my damnedest not to put the central heating on, not to be un-resourceful. We have a very decent standard of life in the UK, but we seem to have become extremely entitled. Having kids people can not afford to fund is another sign of this deserving culture.

But it's an emotive subject and runs and runs.

[Vincent Vega]

I find the debate a frustrating one.

Do people need to be told to put their shoes on when they leave the house or wipe their ass after taking a shit?

Yes, the government should be responsible for protecting society's vulnerable, but not to the extent that the vulnerable become de-skilled in the basic life essentials such as common sense.

Another element to this is what do we really mean by below the poverty line? I try my damnedest not to put the central heating on, not to be un-resourceful. We have a very decent standard of life in the UK, but we seem to have become extremely entitled. Having kids people can not afford to fund is another sign of this deserving culture.

But it's an emotive subject and runs and runs.

You sir are banned......we will have none of your common sense here thank you   

[Always Believesham]

I hope this doesn't turn into the usual debate about people who use these loan companies.

 

Unfortunately it did.

 

This is what really pi$$es me off about the morally elite that decorate the forum with their opinions on loan companies whenever anything appears in the news about them!

 

So Wonga have agreed to write off debt? Ba$***ds, how dare they! They're a business, for once they've done something kind of right and this is another reason why clubs should ditch them as a sponsor.

 

Football has been putting money before morals for too many years now - it would make it interesting if there were fans out there with ideas to stop clubs relying on certain companies for sponsorship deals.

 

Clubs (like Newcastle) can only get sponsorship from companies (like wonga) because of their own reputations, how much they rely on the sponsorship and probably how much they charge for what is essentially an advert on their shirt.

[BRISTOL86]

I find the debate a frustrating one.

Do people need to be told to put their shoes on when they leave the house or wipe their ass after taking a shit?

Yes, the government should be responsible for protecting society's vulnerable, but not to the extent that the vulnerable become de-skilled in the basic life essentials such as common sense.

Another element to this is what do we really mean by below the poverty line? I try my damnedest not to put the central heating on, not to be un-resourceful. We have a very decent standard of life in the UK, but we seem to have become extremely entitled. Having kids people can not afford to fund is another sign of this deserving culture.

But it's an emotive subject and runs and runs.

Spot on. Nail on the head.

It's symptomatic of people spending so much of their lives not having to think for themselves. You shouldn't need regulation and legislation to not do stupid things, no matter what your circumstances.

Now I'm not saying that all people who use Wonga are ignorant of what they're signing up to, but a lot of them don't even think about it, they just do it. Now I'm sorry but no matter what your financial situation I don't sympathise with people who enter into these agreements and then say they didn't know what it was all about and what the interest was, etc.