BBC 3 Documentary Young, British And Broke focusing on Rochdale

Did anyone see this documentary on pay day loans last week? Just wondered what people thought of it focusing on Rochdale and what experiences people have had with the pay day lenders.

hawkins wrote:Did anyone see this documentary on pay day loans last week? Just wondered what people thought of it focusing on Rochdale and what experiences people have had with the pay day lenders.

They should all be banned, along with log book loan shops.  At least Dick Turpin had the gumption to wear a mask.  The people behind these shops prey on the weak and vulnerable.  The owners of pay day loans bleat they are responsible etc. Liars is one word.  Can anyone tell me have any of these Loan Sharks ever justiified their 1000's% rates.   In my eyes the only thing that sets these 'legal' loans apart from illegal loan sharks is that Wonga wont send the boys around and menace you at the door.  I am utterly amazed how in this day and age vultures and leeches like these are allowed to operate.  They even advertise targeting children as the next generation with catchy themes and 'lovable' mascots.

I even read that if someone uses them and even though they pay the cash back - it can even prevent them ever getting a mortgage.  You dont see that advertised.  

Plus why am I not surprised that Rochdale was covered in the programme.  As in the Child Abuse thread,  Rochdale is fast becoming the bench mark for all things crap- for want of a better word.

Just to clarify, I'm a journalist which is why I'm interested in the reaction to this programme. I won't quote anyone unless they are happy to be quoted, I would just like to know the general opinion of pay day lenders in the area.

hawkins wrote:Just to clarify I'm a journalist which is why I'm interested in the reaction to this programme. I won't quote anyone unless they are happy to be quoted, I would just like to know the general opinion of pay day lenders in the area.

I did wonder why you were interested.  Please do not use my quotes, past present or future,  as I do not know which paper you represent, be it a tabloid, broadsheet or other media based. As to be honest, not with standing yourself, media only come sniffing around when there is more 'bad' news.  You cant see them for dust when something good happens. Yet as soon as there is bad news or a horrific event they are like flies around the proverbial mess.  

I think its safe to say that we don't hold them - as in Credit Loan Sharks shops-  in any regard what so ever. But it doesn't take a rocket scientest to work that out.

The programme title, 'Young, British and broke' would appear to be a play on the old song title 'Young gifted and black'.

Not good....Rochdale has become a benchmark for all things negative!

Such a shame, I was once proud to say "I was born and bred in Rochdale" but now it's "I live near Manchester"......

Chill37 wrote:

hawkins wrote:Just to clarify I'm a journalist which is why I'm interested in the reaction to this programme. I won't quote anyone unless they are happy to be quoted, I would just like to know the general opinion of pay day lenders in the area.

I did wonder why you were interested.  Please do not use my quotes, past present or future,  as I do not know which paper you represent, be it a tabloid, broadsheet or other media based. As to be honest, not with standing yourself, media only come sniffing around when there is more 'bad' news.  You cant see them for dust when something good happens. Yet as soon as there is bad news or a horrific event they are like flies around the proverbial mess.  

I think its safe to say that we dont hold them - as in Credit Loan Sharks shops-  in any regard what so ever. But it doesn't take a rocket scientest to work that out.

Of course I won't quote you or any other commenters who do not want to be, but it is good to get a sense of general opinion.

You can quote my comment Hawkins....with my blessing!

I guess, unfortunately, there is a place for payday-type loan companies, but never ones charging the interest rates these companies do. If some folk can't use these, and have no chance at a bank, they will turn to unregulated loan sharks who will not be afraid to take what's owed to them when it's due. If only the government cared enough to limit the interest rate to one that could be viewed as reasonable...

Anything over 50% is usury in my book. Once a 'crime' in this country. Time some well-heeled politician extracted digits and made sure this 'preying on the weak, desperate or ignorant' was made a CRIMINAL OFFENCE with prison sentences attached for those found ' parasiting' in this despicable fashion. 

I don't think age has anything to do with their victims either. I've known OAPs go hungry because they are paying off these loan sharks, who do not hesitate to collect from other family members when someone defaults.