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gotburnedbywonga

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  1. Absolutely agree I would always advise NOT getting involved with a PDL whatsoever. We all do stupid things, I am that egit! Seriously, I feel ridiculous for getting into such a mess. I have to say though, cancelling your card doesn't work. They still take the money.The bank won't block the payment either. If you've got a loan with those toads, you have to default then they'll talk repayment plans.
  2. Hi there everyone. I came to this site when I had issues with Wonga and after reading lots of posts I managed to break the horrible cycle of debt. I want to thank everyone for their information that helped me and in turn share with you my experience in the hope that this helps anyone who is in a similar situation where you can’t afford the Wonga loan and are having to borrow more and moreIt got to the point where I was borrowing more than £1000 (original loan was about £400), I knew I could not keep this up, enough was enough. I called a couple of days prior to the agreed date of collection and explained to the advisor on the phone. They told me to call up first thing on the morning of collection date, explain the situation again on the day, and they would sort out a repayment plan. A couple of days later on collection day I called at 8am, but it was TOO LATE! They just said “sorry Sir, the money has left your account, but please do apply again”. I had no choice. At this stage here’s what I learned after reading small print*WONGA will take your money automatically at 5am on the agreed payment date. Obviously this is way earlier than you can call the bank to transfer your money, and if you try to withdraw from a cash machine before 5am that day, you will not have the available funds as your bank can already see that payment pending. *You have to deliberately default on the loan in order to organise a repayment planSO, the next one I took out I changed the pay day date to about 3 days before pay day, knowing that this would default due to no funds being there at that time. The day after I got the text and email saying that my loan had defaulted I called up Wonga and explained that I could not keep lending, that I had defaulted on the loan, I explained how sick and stressed this whole thing had made me (it genuinely had) and that I just wanted to do the right thing and pay it back, but I could only afford it split into 12 payments. I did not mention that I was getting paid in a couple of days, as far as they knew I simply did not have the money, and had defaulted the loan. They agreed to a payment plan of 12 monthly payments. Result! So as burnt as I am by this whole experience, I can now manage this horrible debt. They have frozen the interest and I will have paid this off in a year.Here’s a list of points I wanted answers to when searching, I do hope these help you. These apply to my experience and I’m with HSBC. Take or leave this advice at your own riskIf you cancel your bank card, Wonga can and WILL still take money out of your account using the old details you provided. This is something about a “rolling agreement” Most posts I've read would incicate this is the case for most if not all banksYou can’t go to their website and remove all your card details. I tried, you can’tSome have gone as far as to cancel their bank account. Be warned that you are credit scored when you open a new account so this may not be your best option, and you may be left with no bank account at all. If you do chose to close your bank account, do it early so that you can arrange your wages to be paid to your new account. You’ll need to sort that with your payroll dept at workYour bank cannot block payments to Wonga. As there is an agreement that was “signed” (basically the online agreement) then they have the right to take it and your bank cannot stop themIf you try and dodge Wonga and take all your money out, they can and will continue to take varying amounts out of your account at any time until the debt is paid. This could be months after. It’s done automatically, they try to take the full amount, then less, then less still until they get something, anything. It’s horrible but trueIf you don’t call and arrange a repayment plan, the interest will continue to accrue at a daily rate. From what I've read, it seems they can be a bit nasty and involve bailiffs, threaten court action etc if you try and ignore the debt. You’ll end up paying way more in the end. So, my advice in a nutshell, take out your LAST EVER loan with them, then make sure you arrange “pay day” a few days before you actually get paid. Let it default, then call them. They will hopefully then accept a repayment plan with frozen interest. I’m sure that the default does not bode well with your credit score, but then if we’re lending from Wonga, surely it’s poor anyways, right? Get them paid off monthly and break that cycleMuch love
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