Wonga Advice needed

[lyndseyann04]

Hello there I am looking for some advice here, here is the background on my loan with wonga, I took out a £300 loan last November, I was due to start receiving some additional income from December and would of paid my loan back in full, due to circumstances that are not my fault I have only just started to get the extra cash but it is not as regular as promised and of a smaller amount too. I now have had to roll on my debt each month just paying the interest and i now owe £500 and i simply cant afford it. I have read some of this forum with regards to payday loans, I really don't want to have to change my bank account, will they take the money via direct debit anyway, it wont be in there too take. Can someone advise me on the best thing to do please.

Thankyou

Lyndsey

[rebel11]

Hi lyn

 

Welcome to CAG

The guys will advise as soon as they are available.

[ihateyes]

Im afraid you will need to change your bank or else you may check your account some day to find money missing even though you have agreed a repayment.

 

Call them and email them advising of the circumstances.

You will need to make repayments via bank transfer.....

[JO1010]

how you getting on with these sharks?

[lyndseyann04]

I have not done anything yet, i was hoping that a few more people would reply too me, I have read that some people have managed to set up a payment plan with wonga but im worried they will just still help themselves, opening up a new account is going to be a pain and for me a last resort.

I dont do well with bully tactics from those people and im worried about dealing with them

[robjam1969]

Hi Lyndseyanne

 

Reporting your card lost or stolen is a must. Then you can negotiate. Wonga don't normally use DD to collect monies by stealth albeit if you keep a close eye on your bank balance you can cancel any payments on the day they are presented.

 

Once your money is safe you can agree a deal with them. They seem to be a little better these days for agreeing repayment plans if you stick to your guns. Good luck.

[lyndseyann04]

Ok guys this is what I have sent them just now fingers crossed they are ok with me,

 

Dear Wonga,

 

Unfortunately I cant afford to pay back the whole of my loan which is due on the 1st April this is due to monies that I was meant to be receiving but have not and the money I live off which is my benefits right now will not cover the lump sum I owe to you. Also, the interest on this loan has made it impossible for me to now pay off a lump sum on a monthly basis. I only have a monthly sum of £70 left for my creditors. I am willing to pay the original loan of £440 plus one month's interest.

 

In view of my circumstances, please would you agree to accept a reduced offer of £50 over 10 months. If charges are being added to the account I would be grateful if you would freeze these so that all payments made will reduce what I owe you.

 

I Will pay you £50 from the 1st of April via standing order. I am aware that you prefer to use a debit card to take payments but this is not an option I will make sure that the payments are made on time via standing order.

 

Please accept my apologies in this and I thank you for taking the time to read my email, I hope you find my proposal well and I look forward to hearing from you.

 

Yours Sincerely

 

Lyndsey Blythe

[steve15640]

Very good, Worked for me

[26072004]

Just a point to your email.

 

you are telling them you are on benefits, Wonga do not lend unless you have a full time job (according to their website) did you have a full time job when you applied or did you lie on the app form.

 

I ask not to judge, but if you did lie they could accuse you of committing fraud and insist the full amount is repaid.

 

If they did lend to you after stating you was on benefits, you may have a claim that they have failed as a responsable lender (this may help reduce the amount of charges they will no doubt add to your account)

[lyndseyann04]

Just a point to your email.

 

you are telling them you are on benefits, Wonga do not lend unless you have a full time job (according to their website) did you have a full time job when you applied or did you lie on the app form.

 

I ask not to judge, but if you did lie they could accuse you of committing fraud and insist the full amount is repaid.

 

If they did lend to you after stating you was on benefits, you may have a claim that they have failed as a responsable lender (this may help reduce the amount of charges they will no doubt add to your account)

 

hey there, when i applied they have the option to select benefits so no i didnt lie, it was in the drop down menu of income. I thought it was weird but it all went through fine.

[26072004]

the benefits paid to you are the minimum amount laid down by law that you need to live on.

 

these are not meant for loan repayments and Wonga should know that, they make all these claims about being a responsable lender.

 

point this out to them (I would suggest the OFT should be the ones pointing this out to them but the OFT are completly useless, reckon the payday loan industry must be paying them off) if they still refuse to limit their charges then report them to the OFT.

 

If enough people shout loud enough the OFT will have to act eventually.