To be honest, their T&C is misleading at best. They say you can have a refund if you cancel within 14 days but when you tackle them on it, they come back at you saying the cancellation has gone through and no further payments will be taken from your account. So what they actually mean is that they won't take the £8.99 monthly but they will be hanging onto your £75. TOTAL [problem] and they just keep getting away with it.

Yes I am a first poster but I have been following the threads for some time. No I don't work for Wonga but I do use them. And I am only defending them as they are the only one I have any experience with. I'm not defending their actions when someone doesn't pay on time, just pointing out that if you pay the cash back on the day you tell them you will, the system works smoothly enough. Funny how every time a positive post appears, the poster is accused of working for the loan company and their comments largely ignored. If you can manage your finances well, but need a hand now and then, and know you will earn enough to pay it back on the day you choose, then I think Wonga is a really good option.

To be fair, if you take out a loan and don't pay it back on time, the small (well, tiny) print does tell you what they will do to get their cash back. Every time I see someone ranting about Wonga, calling them thieves and rip-off merchants, it's ALWAYS someone who took out a loan then didn't stick to their side of the agreement. Of course they are going to take steps to get their cash back from you if you don't pay on the due date. For every complaining non-payer I've seen post about how bad Wonga is, I've seen others from customers who pay back on time talking about how good Wonga have been. I'd suggest reading the small print you get with your loan before risking not paying it back and having your bank account emptied.