FabSwingers.com > Forums > Scotland > 13 year old offered a payday loan
13 year old offered a payday loan
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How is it that a 13 year old on £5 pocket money a week is eligible for a £400 payday loan at a 5853% loan? According to the news today, the things I couldve done with that kinda money when I was his age,I woulda bought £400 worth of fags and sold them at £0.25p a pop and I'd have been a millionaire by the time I was 16 what would you have done with £400 at 13? Not that it would buy a 13 year old much these days lol |
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By (user no longer on site)
over a year ago
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"government shud ban the payday loans companies ,,,,, 
 nothing but legalised loan sharks "
Legalized loan sharks who prey on the weakest in our society.....
The evils of capitalism, buying things you don't need, with money you don't have to keep up with people you don't like..... |
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By *0JOMan
over a year ago
Glasgow |
Poppycock - always wanted to say that.
If you are under the age of 18 you cannot enter into a legally binding contract. Therefore, no company (especially these payday lenders) would give a loan to a 13 year old. |
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By (user no longer on site)
over a year ago
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"Poppycock - always wanted to say that.
If you are under the age of 18 you cannot enter into a legally binding contract. Therefore, no company (especially these payday lenders) would give a loan to a 13 year old. "
this is true but if didnt stop a well known payday lender sending a letter to this 13yo boy offering him a loan of £400. Headline story in saturdays daily record if anyone wants to read more. |
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By *nnyMan
over a year ago
Glasgow |
I suspect this boy has claimed to be 18 online to get/ view something age restricted.
He's then either checked/ failed to uncheck the 'can we pass your info on' box and is now shit scared to tell his parents. |
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By (user no longer on site)
over a year ago
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"I suspect this boy has claimed to be 18 online to get/ view something age restricted.
He's then either checked/ failed to uncheck the 'can we pass your info on' box and is now shit scared to tell his parents."
theres a fair chance your right.
it does show up the failings in their systems as they claim to check identities against the electoral roll before offering loans. The company has also refused to tell the parents how they got his details, if its an honest mistake why not come clean. |
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By *0JOMan
over a year ago
Glasgow |
Where did the loan company get his details? Sounds like this 13 year old (or may suggest the Daily Record ) did not fill out an online form correctly by giving the wrong date of birth. |
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By (user no longer on site)
over a year ago
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"Where did the loan company get his details? Sounds like this 13 year old (or may suggest the Daily Record ) did not fill out an online form correctly by giving the wrong date of birth. "
thats the big question and as i have said above they are refusing to reveal that information to the parents. Why not do they have something to hide.
add to that the measures they claim to follow before sending letters should have revealed that something was wrong. |
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By (user no longer on site)
over a year ago
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take away pay days loans, provident etc and the poor have nobody who will lend to them, the banks certainly won't, its easy to criticise but its nightmare scenario if your skint |
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By (user no longer on site)
over a year ago
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"take away pay days loans, provident etc and the poor have nobody who will lend to them, the banks certainly won't, its easy to criticise but its nightmare scenario if your skint "
cant disagree with you on it being a nightmare, as for who will lend to you people who are poor, theres always credit unions, theres scotcash, theres the grameen bank system none of whom charge extortionate interest rates.
the problem with pay day loans is that they can keep poor people entrenched in the poverty trap. |
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By *nnyMan
over a year ago
Glasgow |
"take away pay days loans, provident etc and the poor have nobody who will lend to them, the banks certainly won't, its easy to criticise but its nightmare scenario if your skint "
There's always Credit Unions. One, in Glasgow, issued a dividend of £160 per customer a few days ago. |
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I'm starting up a fab payday loan company I can lend ya a £1 and you pay me back £100 by the end of the week else I'll send mad Mary and crazy dave the jehovah witnesses round and they won't leave till you pay up or convert to jahovaism |
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By (user no longer on site)
over a year ago
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"Speaking of being wrong all the time, Ms Sturgeon made a bit of an arse of herself on tv this morning.
"
didnt see it, was she andrew marr or something.
dont go turning this into a personality politcs thread though  |
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i thought he was still away serving as a missionary at a sheep rescue centre in deepest darkest wales 
