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Pa**** Cisse


boltonsno1

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What a crock of ****, its an opportunity for him to engineer a move away. What shirt logos has he worn to date????

 

If people can't see past the fact its him and his agent trying to find yet another signing on fee via another move I despair.

 

The only thing that matters to players (in general with exceptions such as Birchall) is money, there is a massive irony in this story!

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Given that the Bank of England base rate is 0.5% and you can borrow money commercially at around 5%. how can Wonga justify an APR of 5833%? He did have long negotiations about the Virgin Money deal.

It should be against anyone's religion from Jedi to Muslim to oppose legalised loan sharks who pray on desperate people

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He is probably happy to be payed from the supporter season ticket sales which have been done through the monthly instalments whom the finance company make cash from ?

 

The supporters have a free choice whether to buy their tickets through a finance arrangement or to save up and pay NIL percent interest. He has most probably done his home work on which bank to use, in terms of their ethical practices.

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Given that the Bank of England base rate is 0.5% and you can borrow money commercially at around 5%. how can Wonga justify an APR of 5833%?

 

You borrow 1000 over 12 months at 5% and your interest is approx £50 (simple interest)

 

You borrow £1000 over 30 days at 5% and your interest is approx £4..not enough to cover the cost of the loan

 

So they need a much higher interest rate to cover their costs, make a profit and possibly cover costs of money they are having to borrow to service your loan

 

5000% is for me still excessive but nevertheless their rate does need to be much higher

 

For me the issue is one of irresponsible lending as their business model pretty much relies on borrowers not being able to pay back and so continually paying interest..unethical at best, illegal at worst

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