Fact: borrowing £100 at Wonga’s APR costs (over 7 years) more than US national debt.

[Jiglo]

This is unbelievable, but true

Martin Lewis' Blog… | Fact: borrowing £100 at Wonga’s APR costs more than the US national debt (over $14 trillion) after 7 years!

After 1 year Owe £4,200
After 2 years Owe £180,000
After 3 years Owe £7,500,000 (£7 million)
After 4 years Owe £315,000,000 (£315 million)
After 5 years Owe £13,000,000,000 (£13 billion)
After 6 years Owe £557,000,000,000 (£557 billion)
After 7 years Owe £23,500,000,000,000 (£23.5 trillion)

Luckily it's capped at 31 days, but even so people would have to be desperate or mad to use them.