Wonga Bear The Brunt Of Payday Loans Criticism

| January 20, 2014 | 0 Comments

There are times when you would think that Wonga was the only payday loan company operating in the United Kingdom. While there are many different payday loan firms operating in Britain, all providing their own unique service to clients in need of a payday loan, in the eyes of the media, it seems as though there is only one target for venom and hatred. It is fair to say that this company is the best known of all the payday loan firms to choose from and it seems as though the company name has almost become synonymous with payday loans.

This is much like the way that some people call a vacuum cleaner a Hoover, as opposed to stating that it is a particular brand of vacuum cleaner. Similarly, the word Tannoy is used for all public address systems as opposed to just the ones made by that company. In this way, Wonga is becoming demonised as the number one public enemy but in general terms for the company, it isn’t too bad. After all, when someone is looking for a payday loan, there is only name that jumps out at you time after time.

wonga

The company has worked hard to create a strong image in the mind of the public. If you were to think about adverts from payday loan firms, the ones offered by the leading company in the industry would stand out. They are on TV a lot, the same characters appear in print, radio and online adverts and they make it very clear what they offer. There is no getting away from the fact that these adverts are very memorable, helping people to think about payday loans in a positive manner and how simple it is to get money at short notice.

The firm works closely with many football clubs

It also has to be said that the company has developed their brand through football sponsorship. This has created a lot of controversy with many people feeling that football clubs should avoid this style of sponsorship. People who believe that clubs have a role to play in their local community should not be looking to create links with payday loan firms. That may be true but in the current economic state; football clubs need money as much as people do. This means that business decisions are based on business factors as opposed to the social aspect on offer.

There has been a great deal of hypocrisy when it comes to reporting on the link-up between this firm and the clubs that they sponsor. A perfect example comes with Hearts, who play in Scotland. Hearts are currently in administration and are teetering on the brink of relegation and possible liquidation if a fan buy-out is unsuccessful. Given that one Scottish club, Rangers, has already died in recent years, there is considerable pressure on Hearts to stay alive and this means getting money in as quickly and as strongly as they can. Given that Wonga were willing to provide the firm with large sums of cash, much of it upfront, indicates that they were the best sponsor for the team.

However, people complaining about the fact that this sponsorship deal sets a bad example to people clearly misses the fact that football clubs have no business in being role models. The death of Rangers and the near death experience suffered by Hearts suggests that football clubs are financially irresponsible and it may be best for people not to look to football clubs for moral guidance.

There is no doubt that payday loans split opinions and many people find that they are not for them. This is fair enough but there are plenty of people who can benefit from this style of loan. It is important that people who need assistance in the short term are properly supported with options and this is where firms like Wonga can help. For more information please visit www.trueblueloans.co.uk who are qualified to comment.

Category: Payday Loan

Leave a Reply

?