Nobody is forced to use those kind of companies you know.

No but its OK for a RL club to profit from these kind of companies

bradfords new slogan: run up your debts as you eat your curry.

So what?

Really? On their website the max APR for a loan is 1065%, not 4000. Not that APR is relevant for a short term loan.
For a short term loan company they seem a more responsible one than the likes who offer 4000% APR loans. Plus they own the Vanquis credit cards.
They are filling a gap in the market providing credit and loans to those who can't get them, at a far lower rate than their flashy rivals. They're a FTSE 250 company who've just invested over £1m in to a recently stricken rugby league club. Why on gods green earth are you portraying this as a negative? Which companies do you consider acceptable to sponsor rugby league clubs?

Only in rugby league.

Thats why RL isn't making much money. We struggle to attract sponsorship as it is, narrowing it down to "sponsors that look nice" isn't going to help get money into the sport. The company does nothing illegal, no one forces the public to go to them, it is their CHOICE. If you wanting a squeaky clean company that doesn't exploit people or rip people off then thats most sponsorships down the drain!

Don't remember much of a fuss when Blackpool or Newcastle signed mega deals with similar companies.

Only in RL would we moan about a massive sponsorship deal.

i wonder if they're offering bradford better loan facilities than the bank

They're paying them £300k a year over the next four years to be their main sponsor. Didn't you read the release?

just cos its not been announced doesn't mean it isnt happening

the Guardian.co.uk tels the amount they are charging in interest, or watch BBC 10pm on Wednesday when the man who works for them tels how much they charge, but who cares its only the people on £6 per hour, they wont effect us, i would rather my team where sponsored by Durex, at least they do some good :

Riiiiiight.

No it doesn't. It mentions how much APR payday loans companies charge. Not how much this company charges. Go on their website and try and get a small, short term loan for 4000%, it's not possible.

But hey, let's just stick to beer and fags companies, they don't hurt anyone...

www.guardian.co.uk/commentisfree ... rect=false

www.guardian.co.uk/commentisfree ... rect=false

Well done Bradford Bulls new owners, should see them being competitive again soon, good news.

If you don't like the APR on a loan, don't take it out.

I have my doubts (more than that actually - it just isn't) that this is a record SL sponsorship deal, especially as stadium naming rights have been bundled in with the shirt sponsorship which makes it pretty good value to the sponsor. Nonetheless, it's good for the Bulls to be getting some new backing from big, local businesses.

I would suggest it probably is the Bulls record SL sponsorship deal, rather than a ' whole of SL' record deal , obviously as you say, it is a combined deal ( shirt and naming rights ) which can be promoted in a very positive way, we cannot really blame them for that

It is however a very good deal for the Bulls and will hopefully put them in a good position to stabilize their finances for the near future

Its clear they run a shocking company with no ethics, as highlighted in this article. However it is not the job of the Bradford Bulls, to pass laws to stop payday loans companies scamming the vulnerable in our society. That is the job of the government, pressure should be on them to put a stop to this, not on the impoverished bulls to turn down much needed sponsorship money to help them keep trading.

That's a rather silly response.

The serious point is that such companies prey on people who have no other options. With the choice of starve and freeze or take a loan to feed your kids, what would you do?

It's perverse that the more you need money, the more you have to pay to borrow. If, as they say, it is to reflect risk, they would charge less, not more.

Banking is corrupt.

Nearly got into a rant there...

Companies like provident and wonga etc etc are basically legalised loan sharks who prey on the poor and needy in society.

Bulls got good deal yes but I would rather see provident outside of rugby league. I am not a fan of alcohol or betting companies involved in sport either.

Not really silly is it? If I got to a situation where it was starve and freeze or take out a loan, I would go to the Citizens Advice before plunging myself into debt.

The more you need money, the more risk you are to a lender, that's why you pay more.

I agree banking is corrupt, but now do we have a go at Halifax for their sponsors?

If a conglomerate like Barclays or RBS sponsored the league or a club would you have a problem? Because they are companies that have been caught up in the banking scandals. Where does it end?

Legalised Loan Sharks? The word 'legal' in that sentence proves how wrong you are.

For main sponsor rights AND stadium naming rights 300k a year doesn't sound that great a deal, or is that how low SL clubs are valued at the moment?

You are George Osborne and I claim my £5.

Halifax and other high street lenders do not charge 400% interest.

It's a self fulfilling prophesy to charge someone with a low income more for a loan...you may default, so we will ask you to pay even more!!

Loans should be capped...if the risk is too high, don't lend.

You live in cloud cuckoo land if you think the CAB have the answers to this.

Leaflets and well intentioned advice do not pay the bills.

Yes, but Halifax and other high street lenders don't give short term loans. In fact, most high street lenders have been in trouble over slapping on payment protection insurance either without telling the people getting it or telling them they can't have the loan unless they take out the insurance.

And the 400% you're banging on about? That's the APR. APR is an annual rate, not applicable to most loans from them as they tend to be 5 or 8 month loans. Clearly you either don't understand that, or you are purposefully ignoring facts that don't fit your argument and if it's the 2nd the clearly anything you say is bunk and can safely be ignored.

Exactly.

I live in cloud cuckoo land if I think the CAB have answers to this apparantly. I got in financial trouble when I was young and naive and went to the CAB, who were superb. If you went in and said, 'shall I take a payday loan out?' They would say 'no, do this.....'

That's why you go there-advice.

I understand it perfectly. Interest is calculated from day 1, not after 1 year. Incidentally, provident collectors take the first payment, at the time of issuing the loan - this removes the cooling off period and makes the interest kick in immediately.

Of course, clearly I didn't realise that Wonga and Provident et al are such benevolent organisations, there not for taking advantage of the weakest in society, but there to make just to help us all out of the goodness of their hearts.

Bless.