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Is it a scam in the UK to get charged a high rate to borrow cash, get in the same day, and be able to borrow with bad credit? No, unfortunately it’s a service that’s really needed in the UK right now. Say you have no credit cards, and you don’t have hardly any savings, what do you do in an emergency? Some of us have no family to fall back on, and we don’t feel it’s some Wonga scam to take advantage of us by loaning us the money. People with bad credit pay high interest rates to buy a car, so what’s the difference?

Wonga is just charging a premium because it allows people to have quicker access to cash than a bank would. The only way to get cash right away is to take a cash advance on a credit card, which is very costly. There are some emergencies that require cash, credit cards just won’t do.

At least with Wonga, they don’t try to keep you in debt longer. Sure, there are people who will abuse the service, borrowing when they shouldn’t, but Wonga tries to discourage this. However, it’s no Wonga scam if they can’t determine people’s true intentions over the Internet. People should only borrow for emergencies, not a night on the town, or a concert. That’s how people get in trouble.

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