We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans".
Kneafsey, 39, will run the UK consumer division, working alongside Haste to ensure Wonga "lends only to customers who can reasonably afford to repay their loans", said a spokesman.
But in one area Mr Bell was prescient: he worried that consumerism was encouraging people to borrow more money than they could reasonably hope to repay.He was even more prescient about what might be called "the cultural contradictions of the welfare state".
Haste said the company's priorities included a review of customers to ensure it is only lending to people "who can reasonably afford to repay their loans", and ensuring transparent lending, which he said would "lead to a tightening of Wonga's lending criteria".
We take a responsible approach and lend only to those we believe can reasonably afford to repay".
Lenders are now legally required to ensure borrowers can "reasonably afford" to repay a loan before they approve a new mortgage.
Such a shift from total resistance to greater flexibility, if real, would be a significant step for DeVry, which has in the past hired powerful, connected lobbyists like Heather Podesta to fight back hard against Obama Administration reforms such as the gainful employment rule, a measure that penalizes career education programs that leave students with debt they cannot reasonably afford to repay.
I always saw the bankruptcy laws as a check to make sure that I did my job right -- that is, only give credit when I was reasonably certain that the applicant could repay.
It is also believed to be planning to force lenders to be more stringent about checking whether people can actually afford to borrow money – and it will tell lenders to stop strong-arm tactics to recover debts, ordering them to deal reasonably with people who fail to repay loans on time.
So I guess my answer would be as little as possible, and never more than they can reasonably expect to be able to repay.
