Lots of publicity today about Wonga targeting students with their high interest loans.

Headlines like “Wonga – another example of predatory capitalism” to the BBC headlines “Wonga student loans criticised by NUS”

The National Union of Students (NUS) said it was wrong for Wonga  to push the short-term loans – with a typical APR of 4,214% – as part of a student’s everyday financial planning.

Guess what? Wonga have quickly pulled the ads from their website saying they were old ads and they weren’t targeting students. It’s amazing what a little bit of Pressure does!

But there is an e-petition with over 5500 signatures calling on the Goverment to do something about these types of  loans after UK consumers are getting into debt as a result of these loans.

End Legal Loan Sharking: Cap the Total Cost of Credit

SIGN THE PETITION HERE…………http://epetitions.direct.gov.uk/petitions/20219