Payday lenders

I just miss the name of the football team on BBC watchdog who was made by the fans to ditch payday lender from sponsorship of their shirts, because of their rip off interest. did anyone see it?

A sad day for Bolton': Sponsorship deal with payday lenders QuickQuid is wrong of Wanderers, claims MP

Bolton Wanderers’ decision to sign a sponsorship deal with payday loan company QuickQuid has been blasted by Labour MP Julie Hilling.

Ms Hilling, who is MP for Bolton West has slammed the Championship club after it revealed the firm’s logo would feature on the kit for the next two years.

She described the announcement as ‘a very sad day’ for Bolton Wanderer’s Football Club, for the borough of Bolton and the wider community, adding that as a family club the agreement to pair up with a payday loancompany was ‘wrong’.

I didn't see it, but suffice to say im not shy to make my opinions known on the money-lending, limelight hogging tuppeny millionaire whose name i shall not mention as it will sour the food on my table as i eat.

quick quid i didnt see the program but i read bolton fans weren't happy they are their new sponsors.

Bolton Wanderers.

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Fan power. Football is by tradition a working class game and most fan bases find their club taking money from high interest lenders/pay day lenders, who tend to have as their client bank people at the lower end of the income scale, a somewhat questionable decision.

I agree with this and this is not a direct comment on FIL or whatever they are called but a general comment. I particularly find FIL's advert in the family end distasteful.

***personal comment on all lenders advertising as the main sponsor in a family end***

Football fans protest against shirt sponsorship by payday lender

Red cardTop footballing team Bolton Wanderers is facing a backlash from their fans after announcing a new two year shirt sponsorship deal with QuickQuid, a controversial payday lender.

The new deal was announced this week but fans are now petitioning chairman Phil Gartside in their droves in a bid to get the club to reverse the deal.

The subject of payday lenders has already become a particularly sensitive subject in the town of Bolton. Earlier in the month a coroner’s court heard how 36-year-old Anthony Breeze set fire to himself after being plagued for money he did not have by payday lenders.

As a football club close to the local community, news that the Trotters have agreed a tie-up with a payday lender has not been received well. The petition from the fans to the club urges them to reverse their decision, describing the Wanderers as a ‘family club’ and pointing out that a lot of supporters are ‘upset’. The letter accompanying the petition goes on to dub payday lenders as companies who seek to ‘exploit’ those who are experiencing financial hardship.

The club has refused to comment on the petition but at the time of announcing the deal said it was ‘delighted’ to have been one of the first partnerships between QuickQuid and a sporting venue.

QuickQuid has come in for particular criticism after seemingly suggesting that payday loans could be used to fund dental or medical treatment. An advert from QuickQuid suggests that you ‘should not scrimp on’ seeing the doctor or the dentist and critics have slammed the campaign for implying you should pay for treatment by taking out a loan.

QuickQuid said they had chosen to link up with Bolton Wanderers because of the club’s successful record in sport, solid heritage and loyalty to its community.

Should payday lender be involved with sport teams and sponsoring the children areas?

You do know that FES aren't actually a pay day lender.

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Companies like Logbook Loans and Quick Quid offer short term loans with apr in the 1000% region.

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That's 1734% apr.

Suggesting our friend Nikkkkkkkk is in this type of business is misleading.

If we were getting sponsorship from Barclays or Natwest, none of you would complain.

hairy j wrote:

You do know that FES aren't actually a pay day lender.

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Companies like Logbook Loans and Quick Quid offer short term loans with apr in the 1000% region.

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That's 1734% apr.

Suggesting our friend Nikkkkkkkk is in this type of business is misleading.

If we were getting sponsorship from Barclays or Natwest, none of you would complain.

why do you need to pay extra to payoff a loan early :S

You have to do that with most loans. I've got three months left on my car to pay - I would incur a fee on that to pay it all off earlier than if I just stick with my agreed payment plan. I really think this thread is on incredibly dodgy ground.

hairy j wrote:

You have to do that with most loans. I've got three months left on my car to pay - I would incur a fee on that to pay it all off earlier than if I just stick with my agreed payment plan. I really think this thread is on incredibly dodgy ground.

seems very strange to me i'd rather pay it off asap like with my student loan.

Student loans are different. If you read the T&Cs for almost every commercial loan, it's standard.

Nikkkkkkkk's gang offer much higher rate secured loans, that's secured against your home at 23%, than high st banks who offer secured mortgages at a fraction of the rate of interest.

They're not payday lenders who do charge astronomical rates for insecured short term loans.

FES/FIL charge the higher interest because they are less choosy or less stringent with their lending criteria, such as people with a poor credit history.

However it's dressed up, nikkkkkkkkkk obviously does very well out of targeting people with adverse credit history and there is usually a reason why people have a poor credit history, because they can't afford to make repayments. That could lead to someone losing their home over a very small amount of money.

I hope that doesn't offend his royal highness or his advertising agent. If it does, tough shit.

hairy j wrote:

Student loans are different. If you read the T&Cs for almost every commercial loan, it's standard.

i always do but there again ive never applied for a loan other than that tbh.

I don't think this thread has any merit at all and the first few posts are incredibly dodgy. Have a bit of dignity ATD.

I think it's fair to clarify that Nikkk's company(s) are not payday loan companies and to lump him in the same category as companies like wonga etc is a bit unfair.

I think any loan company that charges an APR into triple figures is morally bankrupt but that's my personal opinion.

But be fair about it, Nikkk's company isn't a payday company.

Be mindful that you are still individually responsible for what you post and as proven already with the Punchdrunk/VillageGreen episode.

I'm not censoring debate just giving a gentle reminder to be careful.

I'm not shore the payday loan companies are any worse than the profusion of online gambling concerns which seem to be the sponsors of every other team nowadays.

Jesus H - I agree with Tis!!!!

hairy j wrote:

You do know that FES aren't actually a pay day lender.

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Companies like Logbook Loans and Quick Quid offer short term loans with apr in the 1000% region.

[You must be registered and logged in to see this link.]

That's 1734% apr.

Suggesting our friend Nikkkkkkkk is in this type of business is misleading.

If we were getting sponsorship from Barclays or Natwest, none of you would complain.

I mentioned high interest lenders/pay day lenders, I didn't say that FIS/FIL were pay day lenders, they are plainly not. However I can't see anyone saying that compared to the more mainstream market FIS/FIL don't charge higher interest rates, 23.4% against a BOE base rate of 0.5%. They do their business legally of course and all their customers have choices about where to source their money. I just don't think that in today's financial environment having a sponsor who charges significantly more interest than the mainstream lending market, particularly in the family area, is a wise choice.

hairy j wrote:

I don't think this thread has any merit at all and the first few posts are incredibly dodgy. Have a bit of dignity ATD.

Normally I tend to agree with you Hairy but not on this one. A bit of dignity...? I'm coming at this from a general sponsorship angle in the country's most popular sport.

I agree with Lord Tis as well. There are a whole host of industries that I wouldn't welcome being such a major sponsor of our football club - gambling companies and companies who charge higher interest rates being two. I also find Macdonalds sponsorship of school football to be distasteful (not just their burgers!) This isn't personal because of his agent.

Tgwu wrote:

Should payday lender be involved with sport teams and sponsoring the children areas?

This post is incorrect - FES/FIL aren't a payday loan company.

Where do you draw the line? Carlsberg sponsored many clubs, gambling websites currently do and LG sponsored Fulham and they make terrible televisions.

hairy j wrote:

Tgwu wrote:

Should payday lender be involved with sport teams and sponsoring the children areas?

This post is incorrect - FES/FIL aren't a payday loan company.

Where do you draw the line? Carlsberg sponsored many clubs, gambling websites currently do and LG sponsored Fulham and they make terrible televisions.

All subjective Hairy, that's the beauty of life.

what interests (!) me in all this, is it only took 4.5k of the bolton fanbase to turn the decision round. thats a meagre 10% (at best) of the fanbase. if those figures applied at argyle, we'd only need 600 people to reverse boardroom decisions.

funny how other club boards listen to even the tiniest minority of fans views.. yet at argo... we are berated for not caring, for not living in muff, for not towing the line for daring to question motives for asking straight questions for not being content with off the cuff replies...blah blah blah

Good on Bolton, good on fan power.

Mapperley, darling wrote:

what interests (!) me in all this, is it only took 4.5k of the bolton fanbase to turn the decision round. thats a meagre 10% (at best) of the fanbase. if those figures applied at argyle, we'd only need 600 people to reverse boardroom decisions.

funny how other club boards listen to even the tiniest minority of fans views.. yet at argo... we are berated for not caring, for not living in muff, for not towing the line for daring to question motives for asking straight questions for not being content with off the cuff replies...blah blah blah

What, Bolton have a fan base of 45,000? I don't think so. Their gates are no bigger than Argyles in a like for like world.

hence the 'at best' part which you missed