Pay day loans.

I have no private pension but I can manage very well on my two occupational pensions and the state retirement pension, especially with the generous personal allowances for people of my age. I get two - one in England for my UK government occupational pensions, and one in France which covers the state retirement pension.
My main expense is travel, but I can afford this by living very frugally when at home - tiny flat, low outgoings, no socialising, few new clothes, no hair-dressers, make-up, no smoking, little alcohol, little cost of health care, even in France, no mortgage/rent, no debts......my main outgoings are insurance for car, flat and top-up cover in case I need to go into hospital.
When I am at home, my principal hobbies are reading, walking and watching TV - all free or nearly so, now I have bought a Freesat box. I buy second hand books from Amazon and I am also re-reading my own collection of classic literature.
My income would seem very small to some people, but I work on the Micawber principal - as I spend less than I 'earn', I feel that I am very comfortable.

Quite! Good for you!

Intrusive questions, Frank - you should be ashamed.

And as for your point about "poor people like me" Payday loans are precisely for people who are unable to get other forms of credit/bank loans etc as they are low paid - oh and of course being low paid they also have difficulty managing on their small income. They probably don't live in £500K houses in a "smart" part of whatever city, so please show some understanding and sympathy for those worse off than yourself.

Well said gm I'm afraid I lost my cool and replied when I should have ignored. But I was so

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Advertising - reported.

Reported by me too and frankly warrenjake79 or whatever you call yourself, you must think we are stupid to swallow all this guff. This is gobbledygook, it is UNTRUE, and it is misleading. The sooner someone clamps down on this sort of usury the better

I am surprised Carole Vordeman isn't pushing them. They prey upon the financially naïve and if the loans are not repaid on time the interest mounts exponentially. I thought 33% on some credit cards was usury, but many of these 'helpful' companies are charging in excess of 2,000% p.a.

Frank, it could have been the way you were dressed, or it could be that the leafleter had been paid to distribute a set number of leaflets and was giving them to everybody regardless.

What's with you and CV Greatnan? You really don't like her do you?

Neither do I. It's like, for example, Annabelle Karmel [sp] doing an advert for Mars Bars or Sunny Delight..if she did that [she wouldn't] I'd never pay any heed to anything that she ever said again. For someone who was beloved by the masses [and trusted by them] doing adverts for loan companies I will never view her with anything but contempt. And yes, she probably would be doing adverts for pay day loan companies if she hadn't got the job on Loose Women .

Did she do adverts for disreputable loan companies then?

Is there a non disreputable loan company given that it's always better to get a loan from the bank? I can't remember which company she advertised for.

Aka here's a link to a petition that was run by Money Saving Expert about CV's advertising of secured loans. It explains why secured loans are dangerous.

She also advertises 'health' supplements and we have discussed these on other threads.
No, I don't like CV any more than I like any celebrity who lends their name to a product that is unproven or bad value. I include Michael Parkinson and Gloria Hunniford who advertise 'Over 50's' life insurance. These policies do not give good value - why do these successful people need to augment their earnings in this way?

It's always an education coming on GN when I have time to browse. Don't know the answer to your question Greatnan

I agree that these celebrities should think before advertising these very doubtful products.
Not me, but many people look up to these celebs as trustworthy and generally good sorts. I don't know how they can live with themselves for promoting these extortionate financial deals. As someone else has said I doubt if they need the money.

I cannot believe that these loan companies are be allowed to charge these sorts of interest rates.