Thanks for that marooned, it answers the question - can you please provide a link to the quote

https://www.wonga.com/help/historical-debt-collection-issue-redress

Hmm, amended or removed?

Hmm, amended or removed?

Good question..

Hmm, amended or removed?

Wonga is currently in discussions with credit reference agencies over what action can be taken, if any, to amend borrowers' credit files. The three credit reference agencies, Equifax, Experian and Call Credit, need to agree a universal approach – but discussions are “complicated” said a spokesman for Call Credit.

“What Wonga have agreed to do is admirable but that is a decision driven by their lending criteria,” he said. “How an individual has subsequently managed that debt is a completely different thing and it is too early to say whether this historic data [such as arrears] could just be erased altogether.”

Experian said: “It’s essential that people’s credit reports reflect the facts and we are working with Wonga to help ensure this is the case.”

Equifax said: “Wonga and Equifax are in discussion about the future of data sharing, but Wonga does not currently share its data with us.”

Any advice given by the unregulated CRAs has to be taken with a pinch of salt - we all know how bad they are at actually reflecting the FACTS and that they love 'passing the buck' when they, at the end of the day, are partially responsible for the financial mess this country is in.

I still cannot get any info out of them without having to supply documentary evidence for the last five years, and even then they 'cannot guarantee' to give me all the information as it is 'commercially sensitive' so therefore I am stuffed for getting credit for a long time to come.

Why WE have to pay to get OUR information is still a mystery, but of course this alleged 'debt industry' exists to feed on misery and poverty and doesn't really help anyone other than itself.

Rant over for today!

SG, have you sent Subject Access Requests to the CRAs ?

Wonga is currently in discussions with credit reference agencies over what action can be taken, if any,

It's the last two words that bug me !!

Wonga is currently in discussions with credit reference agencies over what action can be taken, if any, to amend borrowers' credit files.

Even if there would be a decision to fix the wonga mess ups on peoples credit records it would probably still be quicker to just sit it out until it goes away six years down the road. Why? Wonga simply isn't the fastest company around, just look at what happened with the premised compensation for the fake lawfirm letters, not a penny has been paid yet, just letters being sent with stuff written in them along the lines of "bla bla excuses bla bla please give us 12 more weeks".

I certainly would not disclose any closed credit accounts that were not on my credit file, as the information is only held for 6 years. They are relying on you to furnish them with this information, just the same as credit companies don't give 'reasons' why credit is declined I personally fail see why anything over 6 years old is relevant.

Anyone with half an idea on any major credit application, would assure that any searches are at minimum and any negative credit history has reached the end of its 6 year life before applying for anything.

Well Ive decided to take my concerns to the FOS.... Im assuming they'll reply with the "tough, you took out the loans etc..." line but I made a point of highlighting that as per my credit card, I have ONE account with Wonga which realistically should reduce the amount of multiple entries, plus I have highlighted that their false claim of "improving my credit chances" has crippled any chance of me remortgaging my property (I have not missed 1 payment of my mortgage in 10 years but my current lender still wont touch me because of the PDL entries)

I shall keep you updated with the response.

I've been rejected twice this week when trying to remortgage. Both The Skipton Building Society and NatWest refused because of Payday loans on my credit file. The last one was over 15 months ago.

PDLs are apparently advising that the repayment of a PDL within the contractual period will help your credit rating. This appears to be inaccurate.

 

Main stream lenders are viewing the use of a PDL or short term loan as a negative. That at some point you have , even temporarily, had a financial hiccup.

 

Have you taken out a Pay Day Loan - repaid it within the contractual period and now find that you have been denied mainstream lending at preferential rates, or has your mortgage application failed because in the past 6 years you have needed to find short term borrowing.. fast !

 

Please post a summary of your situation below.

 

Most of the articles I have found, warning of this problem, are from 2012

OK so an update to my PDL saga. After taking out a second PDL with Wonga I was informed a few weeks later that under the new guidelines I would not have been accepted for the loan. This despite a gleaming credit file with no late payments or defaults. Wonga informed me that I would have to pay no interest on the PDL, and after its repayment it would be removed from my credit history.

This was completed by Wonga very quickly and no trace of the PDL shows on my credit file. I then contacted Wonga about my first PDL taken out in January 2014 with the sole purpose of improving my credit score as advertised. Which we all know to be inaccurate now.

After a shirt email exchange Wonga infromed me that they couldn't remove the loan from my credit history as they have a duty to report factual and accurately all such information????

Which then ask the question why did they delete the second PDL from my credit report?

I am continuing to have contact with them but feel I have hit a brick wall with them now as they just repeat the same message regarding the first loan.

If anyone has any idea how to progress with this, address to write to or experience in dealing with Wonga please let me know.

I have 13 separate entries for Wonga for previous pdl's which I am hoping to get removed after reading this thread. I was sent an email recently about one of my last loans being refunded and the CRA being informed. "We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We will make best endeavours to complete this in three to four weeks. This will be done automatically and there is no further action required from you. "So if I wouldn't of passed the affordability check on that surely that stands for the previous loans?Also it would seem they had changed there email and dropped the credit file improvement text here's mine from Oct 2012wonga.com "Payment reminder for your wonga.com loan Hi We hope you found your wonga.com loan useful. We know life can be hectic, so this is a reminder that we'll be collecting your repayment of £246.41 from your debit card on 23 Oct 2012.We'll collect the amount that you owe from 5am on the promise date using the debit card details you've provided. If we can't collect the full payment when we first try, we'll make further attempts to collect the money from your debit card on more than one occasion, either in one payment or in several varying amounts, on a continuous basis until the amount you owe is repaid. We may do this over a period of time.If you're aware of any changes in your circumstances which might mean we can't collect the full payment from your card, you need to contact us immediately - at least one working day before the collection date.We hope you found wonga.com easy to use and that we may be of service again in the future.Best wishes,The Wonga Teamwonga.com"

Good morning

Can anyone tell me if they have had any success with quickquid or payday UK as I've just had two mortgages refused because of payday loans and would like to forge ahead with more letters to them as they are refusing removal of any entries whatsoever. Many thanks in advance.

You won't have any joy with removal of the entries as you did take the loans out. They 'cannot lie' to the authorities. The best you can do is wait for them to fall off.

I don't know of anyone who has just had an entry removed because it is detremental - you need a very very strong reason for that to happen.

My credit is now destroyed because of a payday loan! I am not even sure if I can rebuild it!

My credit is now destroyed because of a payday loan! I am not even sure if I can rebuild it!

Start a new thread with the full history of this, john and maybe we can help