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wilko011178

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Everything posted by wilko011178

  1. Remember being told when i got £1000 that he 'wasnt allowed to do £1000 as one loan' so had to sign 2 separate loans at 500 each clearly was just a money making scheme, there were no questions about why I even needed/wanted the money. I guess if was just a case of lending out as much as possible as the more you lend the more profit can be made
  2. Hi SP I do recall agent moaning about all the new forms they had to fill out but for me all what happened was a very very brief conversation - how much rent do you pay, i cant evdn recall being asked about exiating debts. Nor do i recall being given a copy of the form he filled out. As for paying off existing loans - no... all loans barring the april 2012 one still have outstanding balances so none of the borrowed money went towards paying anything off. I feel very embarrased about being so stupid but when you have a gambling problem and you 'need' money its very easy to take whats been offered to you
  3. That would be just short of £900 for me. I can clearly see why their trying to sweep the whole matter under the carpet. Just hope it all kicks off and they are forced to relook into the whole mess!
  4. Im just seeing things in very simple terms they made a profit out of me on at least the one occasion... 100% sure more than once but thats another kettle of fish... so on this one occasion (the active loan) i shouldnt just get £105 wiped off I should get REPAID the interest ive paid so far that i shouldnt have been charged on the loan that they themselves admit shouldnt have been granted
  5. It shouldnt be a lottery as to whether you benefitted a little or lot depending on the dates involved. I feel like im moaning a lot now lol Just when you think it through logically its so unfair at least with the ppi scandal it was a lot more straightforward and black and white
  6. I have no idea mate.... the media needs to put sone pressure on them?? Or FCA need to get involved again?? Wonga wont pay unless they are forced to
  7. That is a very fair point.. and to be fair they were taken out before I got embroiled in payday lender debts. I suppose ive only myself to blame for decisions made but I think lending without credit checks isnt good business practice.
  8. Person A takes out £500 loan on 20 August with repayment date of 31 August. They cant pay on time so go on a repayment plan with first payment due 31 Aug ... They make a smallish repayment on that date followed by another on 30 September.. New ruling 2 October means they get the WHOLE debt paid off.. Essentially they get given FREE money ! Person B [me] is 300+ days in arrears and has paid off ALL of principal payment plus majority of interest but only gets a small debt written off.... I should at the very least get back the interest that I shoulnt have paid in the first place!!
  9. Theres clearly a lot of grey areas. They should make it either black or white and just take a hit on the money its gonna cost them. Small claims court????
  10. Its not fair at all... they admit they did wrong and have written off £105 that i had left to pay but they should have actually paid me back all of the intetest that I had ALREADY paid back over the last few months.
  11. At the end of the day they gained a profit from xxx amount of customers who were granted loans that shouldnt have been granted. They should pay back the interest (profit) that they gained on all of those loans. They wouldnt go bankrupt as im guessing 90% were loans that were granted legitimantly and they would have made hundreds of millions from those loans. No requirements of any payback on those loans of course.... I was with them 2 years and was talking loans out vitually every month. I doubt all were accepted when they shouldnt have been but alarm bells should have been ringing when it became obvious i was having to take out a loan on my payday as 30% of my wage was going straight to them to pay off the previous months loan. I was in a circle of debt
  12. Its clearly not fair is it... isnt there any other authority that can pay the money back. I got PPI back from the Financial Services Compensation Scheme (welcome finance had gone bust so got money back through the scheme)
  13. But did their intentions get pre-approval from the fca? I suspect thats the compromise they came to thing is i cant understand why the countless other loan companies arent forced to do the same?? im on a repayment plan with paydayuk paying 20 a month for another 8 months - im pretty sure that should be written off if they were forced to do the same as wonga
  14. I actually dont think they are paying any money out to customers... Their just writing off 230 million (think that was roughly the figure) of collectable money
  15. Yes i completely agree with that.... they would owe me at least a couple of grand in interest payments. Cant imagine they would refund tho... they would owe millions upon millions to god knows how many people!
  16. Hi Story so far... been a customer of provident and greenwoods for over 10 years. Alqays paid loans off in full and from memory always on time. in november 2011 i took out 500 loan with provident (15 repayment per week over 60 weeks) the following month took was offered and took 1,000 loan from greenwoods (20 a week over 104 weeks) in feb 2012 took out 1000 loan with prov at 30 a week over 60 weeks. followed with a final loan of 400 with greenwoods in april 12 (12.80 a week over 55 weeks) So that was 2,900 paid out in less than 6 months with no credit checks or proper affordibility testing. Agents just popped by gave me the money and was just a case of me popping my signature onto the contract. In hindsight this was hardly the proper way things should have been done! So in total I had 5,504 to pay back at 311.20 every 4 weeks!! still not paid everything back and defaulted a long time ago. currently owing 1,600 so paid off 3,904 which is 1,000 more than was borrowed in total on the loans manager calls by once a month and i pay what i can afford which has been 50 a month for last few months. currently just short of 8 grand in debt to a total of 7 creditors in view of fca's decision with wonga about the granting of loans which shouldnt have been offered in your opinion have I got a leg to stand on by arguing that the debt should be written off?
  17. Was originally on a 12 month repayment plan paying £88 for 11 months with final payment of £34.. paid 9 on time so had 3 left (end july aug sept). Phoned them back in july asked if I could pay 34 end of July followed by £88 then a final £88 They offered to let me repay what was left over the next 6months instead. So went for that. Paid July august september so had 3 months left.... well not anymore (see below) just a shame I wont get any of the interest ive already paid back from them You may have already read or heard in the news recently about an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria. We can confirm that you have been affected. The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. We have investigated your case and we believe you are one of the customers who have been impacted as a result of these historical affordability issues. What happens next We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything. We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We expect this will take between three to four weeks to be completed. This will be done automatically and there is no further action required from you. Key Facts for customers We have committed to a major customer forbearance programme in light of changes to our lending criteria We have identified you as being affected by affordability issues and so we are clearing any outstanding debt on your loan Please do not make any further repayments You do not need to do anything. We will contact you to confirm that your balance is zero. For further information, you can find out more on the lending criteria changes We want to put things right for our customers We are writing to you as a Wonga customer. If you believe you have received this email in error please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Dear Mr Mark Wilkinson If you are currently making repayments to us, such as by Standing Order, please do not continue to do so. We recommend you contact your bank to cancel these repayment arrangements. Please be assured that, should a repayment be made, we will refund this amount to you. We will contact you in due course to confirm that your balance is zero. If you are in an Individual Voluntary Arrangement (IVA) or your debt is being managed through a Debt Management Provider it is your responsibility to inform the person managing your debt of these changes. On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions and for this we apologise. We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans. You can find out more about these lending criteria changes here. Alternatively, please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Yours, Tim Weller Interim CEO, Wonga Group
  18. Was originally on a 12 month repayment plan paying £88 for 11 months with final payment of £34.. paid 9 on time so had 3 left (end july aug sept). Phoned them back in july asked if I could pay 34 end of July followed by £88 then a final £88 They offered to let me repay what was left over the next 6months instead. So went for that. Paid July august september so had 3 months left.... well not anymore (see below) just a shame I wont get any of the interest ive already paid back from them You may have already read or heard in the news recently about an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria. We can confirm that you have been affected. The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. We have investigated your case and we believe you are one of the customers who have been impacted as a result of these historical affordability issues. What happens next We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything. We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We expect this will take between three to four weeks to be completed. This will be done automatically and there is no further action required from you. Key Facts for customers We have committed to a major customer forbearance programme in light of changes to our lending criteria We have identified you as being affected by affordability issues and so we are clearing any outstanding debt on your loan Please do not make any further repayments You do not need to do anything. We will contact you to confirm that your balance is zero. For further information, you can find out more on the lending criteria changes We want to put things right for our customers We are writing to you as a Wonga customer. If you believe you have received this email in error please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Dear Mr Mark Wilkinson If you are currently making repayments to us, such as by Standing Order, please do not continue to do so. We recommend you contact your bank to cancel these repayment arrangements. Please be assured that, should a repayment be made, we will refund this amount to you. We will contact you in due course to confirm that your balance is zero. If you are in an Individual Voluntary Arrangement (IVA) or your debt is being managed through a Debt Management Provider it is your responsibility to inform the person managing your debt of these changes. On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions and for this we apologise. We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans. You can find out more about these lending criteria changes here. Alternatively, please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Yours, Tim Weller Interim CEO, Wonga Group
  19. Good news! Only saved myself £105 but guess its better than nothing...... You may have already read or heard in the news recently about an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria. We can confirm that you have been affected. The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. We have investigated your case and we believe you are one of the customers who have been impacted as a result of these historical affordability issues. What happens next We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything. We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We expect this will take between three to four weeks to be completed. This will be done automatically and there is no further action required from you. Key Facts for customers We have committed to a major customer forbearance programme in light of changes to our lending criteria We have identified you as being affected by affordability issues and so we are clearing any outstanding debt on your loan Please do not make any further repayments You do not need to do anything. We will contact you to confirm that your balance is zero. For further information, you can find out more on the lending criteria changes We want to put things right for our customers We are writing to you as a Wonga customer. If you believe you have received this email in error please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Dear Mr Mark Wilkinson If you are currently making repayments to us, such as by Standing Order, please do not continue to do so. We recommend you contact your bank to cancel these repayment arrangements. Please be assured that, should a repayment be made, we will refund this amount to you. We will contact you in due course to confirm that your balance is zero. If you are in an Individual Voluntary Arrangement (IVA) or your debt is being managed through a Debt Management Provider it is your responsibility to inform the person managing your debt of these changes. On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions and for this we apologise. We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans. You can find out more about these lending criteria changes here. Alternatively, please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830. Yours, Tim Weller Interim CEO, Wonga Group
  20. Ok so interest is charged at 6.5500% above base rate (which from paperwork ive found has been at 0.5% since march 09. so been charged at 7.0500% at the start of the agreement i was being charged 11.9% First month i paid £140 but had £102 interest added on later in that month meaning i was only really paying £38 off of the £10,770 i borrowed!! Thankfully the monthly interest im paying now is £8 and is going down every month
  21. hmmmm 12.1% apr. Im gonna find my agreement later today (im in bed at the min ha) and remind myself what mine was. I know it involved factoring in the bank on england base interest rate or whatever its called. Thankfully because of the ressesion its been really low (0.5%) which has meant the monthly interest they add on has been consistantly lower than it would have been had the country not been in the mess it is/was in. So much so that the 138 monthly repayments originally scheduled (11.5 years) is no longer the scheduled repayments period as my balance at the moment means I will have paid it off by middle of next year. Originally it was scheduled from first payment on 1 november 04 to last payment on 1st march 16. Rough calculation works out paying almost a grand less than was calculated at beginning of the agreement
  22. Any updates from anybody? Although im close to getting rid of this debt im very bitter about how much its cost me in total. Update; after paying reduced repayments for 3 months (beginning june,july,aug) I was contacted my HSBC by phone, they said my repayments would go back to 140 a month. However ive noted that they still remain 100 (thats what they took from my standard bank ac at beginning of sept & oct). I have to admit im kind of pleased as the extra 40 has helped with my fimances. However, I really should phone them and get it increased as its just going to mean extending my repayments further into 2015 than i would prefer.
  23. 3 monthly payments left for me on a 15 month repayment plan - hope they write off what I owe! however go back 12 months things were very different - was constantly paying back wonga in full on payday then having to take out another loan just to survive to the next payday. I was clearly in financial difficulties but kept getting loan applications accepted. Was just in a circle of debt and to be honest any responsible company should have refused my applications - maybe wishful thinking but would be a nice surprise if wonga refund me a big wad of interest!
  24. Ive nearly finished my managed loan, probably have 13 payments max to make. I was struggling recently and phoned telephone banking to discuss paying a reduction on the £140 month payment. They put me through to someone (who i assume was from the managed loan department) and after going through income and expenditure they agreed to reduce payments to £100 a month for a 3 month period. Anyway to get to the point i was making - they are contactable. With regards to the selling of the loan to you - well i guess thats a legal and moral minefield!
  25. They contacted me by email, must have been mid April. Balance frozen with no added charges, provided me with their bank details and gave me till end of September to pay in full (£162) so not a bad result really.
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