Bolton FC

[exileinleeds]

Bolton have announced their shirts sponsor as QuickQuid payday loans. http://www.bbc.co.uk/news/uk-england-ma ... r-22707261

Now we have had a bit of banter being "posh" for having Waitrose sponsor our shirts, and who didn't snigger when Pompey were bust and selling everything while their shirts were sponsored by Jobsite...

There is controversy tho about the ethics of these loan companies- and many of the people who are most under pressure from them would probably love to go to the football, were it not for the debts...
Fans are talking of a boycott of buying shirts, describe it as "embarrassing"...would you agree? Would you be happy if this sort of organisation was involved in Reading?

[reading_fan]

Similarly Blackpool are/were sponsored by Wonga aren't they?

[dizzynewheights]

Newcastle have Wonga ennit

http://www.bbc.co.uk/news/business-22687230

[winchester_royal]

FTR..I know that we've been in discussions with another payday loans company about some form of sponsorship, so we shouldn't be too quick to judge here

[Royalist]

No one seems to mention the ethics of betting companies or even when beer brand sponsor clubs. Both could harm the more vulnerable in the world.

[Royalclapper]

Similarly Blackpool are/were sponsored by Wonga aren't they?

Yes, that's why Paul Ince asks his players to give 4678%

[Simon's Church]

Don't we have owners with links to the mafia? Payday loans seem pretty small fry in comparison tbh.

[Barry the bird boggler]

Morally reprehensible in my opinion to be sponsored by a loans company but then - as has already been mentioned - it's just as dodgy to be sponsored by betting companies and even alcoholic drinks products etc. so just where should the line be drawn?

As long as the companies are not breaking any laws and are operating their businesses responsibly I can't really see an issue, after all people are not forced to take out loans, take up drinking or while away their days gambling....

[Alexander Litvinenko]

Morally reprehensible in my opinion to be sponsored by a loans company but then - as has already been mentioned - it's just as dodgy to be sponsored by betting companies and even alcoholic drinks products etc. so just where should the line be drawn?

As long as the companies are not breaking any laws and are operating their businesses responsibly I can't really see an issue, after all people are not forced to take out loans, take up drinking or while away their days gambling....

That's very, very difficult to define.

[creative_username_1]

what do people do if they need money desperately for a short period and can't get access to it

[Badger Finger]

Mug a grannie

[Alexander Litvinenko]

what do people do if they need money desperately for a short period and can't get access to it

They're perfectly legitimate for exactly that purpose - for people who can pay back within time.

But so much of their marketing is aimed at people who can't pay back, and the companies don't check on people's ability to pay back, because the vast majority of their income comes from defaults and massive penalty charges they lump onto people. It's totally irresponsible lending, virtually unregulated.

[Handsome Man]

what do people do if they need money desperately for a short period and can't get access to it

Find a bet with attractive but high odds

[creative_username_1]

what do people do if they need money desperately for a short period and can't get access to it

They're perfectly legitimate for exactly that purpose - for people who can pay back within time.

But so much of their marketing is aimed at people who can't pay back, and the companies don't check on people's ability to pay back, because the vast majority of their income comes from defaults and massive penalty charges they lump onto people. It's totally irresponsible lending, virtually unregulated.

totally agree m8 but what do they do

[TBM]

I'm glad you put the "FC" part in the subject title - i was getting a little confused

[exileinleeds]

what do people do if they need money desperately for a short period and can't get access to it

They're perfectly legitimate for exactly that purpose - for people who can pay back within time.

But so much of their marketing is aimed at people who can't pay back, and the companies don't check on people's ability to pay back, because the vast majority of their income comes from defaults and massive penalty charges they lump onto people. It's totally irresponsible lending, virtually unregulated.

totally agree m8 but what do they do

In desperation they take out a loan. There is a massive difference between borrowing £100 a week before payday knowing you have that much spare in next months pay cheque to take care of it...to using it to pay off the lender who is demanding repayments day and night. The recovery methods are awful. Bearing in mind only the poorest and most vulnerable would use their services, if you default then the penalties are immense. They use rca to take ANY money paid into your account. It doesn't matter if it is HB to pay your rent, CB to feed your children....they take first dibs. For their charges.

I think we are fortunate here that we have few/any in serious financial problems- Reading is a relatively wealthy area and jobs are reasonably plentiful...I imagine they have far more customers in Bolton. I am just not sure I would want my club to be taking money from that sort of business- even if it is legal.

[retro_royal]

I'm glad you put the "FC" part in the subject title - i was getting a little confused

And missed out the "Wanderers".

Daft cow.

[Alexander Litvinenko]

There are 14 different pay-day loan/money-lending companies in Slough town centre alone.

All designed to prey on the stupid, the gullible and the desperate.

[PieEater]

totally agree m8 but what do they do

I dunno, cut back on smoking/drinking/eating; sell stuff or earn some more money. i.e live within their means. The last thing you want to do is borrow at those massive interest rates.

[soggy biscuit]

totally agree m8 but what do they do

I dunno, cut back on smoking/drinking/eating; sell stuff or earn some more money. i.e live within their means. The last thing you want to do is borrow at those massive interest rates.

how are low income households going to afford all those scratch cards??