Wonga Debt Now at Breaking point!!

[Irishson]

No i dont have there details how would i go about getting them? should i email them back telling them i cant afford it, the repayment they proposed is more than the extra income i have, are they likely to move on that? or will it get there back up by emailing them?

[Irishson]

No i dont have there details how would i go about getting them? should i email them back telling them i cant afford it, the repayment they proposed is more than the extra income i have, are they likely to move on that? or will it get there back up by emailing them? i could afford this after the 6 months but not now!!!

[Irishson]

So i have emailed back saying i wouldnt be able to afford paying that amount but would be happy to agree a plan of:x5 monthly payments of £56 then x9 monthly payments of £124 thereafter on the first of every month, i have said that legally this plan would be more than sufficient and that you would find from my income and expenditure that it is more than i could afford, as i really just need a couple of months to get my finances back on track, we'll see what they say, after that i'll set up a transfer each motnh for the 56.

[renegadeimp]

Stick to your guns. They know for certain that if it ever went near a court, you could be told to pay much less per month.

[JOHNINYORK]

Maybe if you put £56 into their account,then tell them that you have already started to repay them.You will keep to this figure each month with a proviso that you will increase the payment as soon as it is possible.They might accept your plan as money has gone into their account.After looking through previous posts,this is more or less what our learned friend Renegadeimp suggested.

It does seem that they are wanting monthly payments of 10% of the outstanding debt.

Regarding bank details for Wonga.

 

HSBC

SORTCODE 40-06-09

ACCOUNT 21544926.

 

Regards,John.

Edited July 28, 2012 by JOHNINYORK

[Irishson]

So update im a day overdue, i havnt had any email or telephone call to say as such and as of yet have had no attempt to take payment there has been a days interest added on and im worried that they're just gonna pile it on and on, obviously i dont want any letters coming demanding this that and the other, but i have paid £56 into their account yesterday using the barclays account that is listed on their website should i email them to tell them i've paid that into the account as it says to email customer care to let them know? i recieved an email from them on tuesday telling me that they couldn't accept my plan because there was no prove to show hardship and that my payments were too low, i emailed them a slightly revised plan and as of yet have had no response... what should i do, im getting very stressed!!!

[renegadeimp]

Yes. Tell them that you proposed an offer, they didnt reply so you made the first payment as planned and will continue to abide by the proposed plan.

[Irishson]

Thanks again, your advice has been a great help i emailed and informed them that the payment was made and that i would adhere to this and increase payments when im able to do so

[renegadeimp]

As long as you stick to the plan you should be fine. £50+ a week/month is a lot more than most repayment plans. Especially when you are willing to review it every 3 months or so.

[Irishson]

I will do, my only main concern is the interest, will they stop adding this on at any point, or do i have to pay it seeing as i informed them in advance i couldn't pay the loan in full?

[renegadeimp]

They can add it, but you can contest it. Especially if it is a high amount and it is stopping you meeting a repayment plan towards the debt you can afford.

 

For instance, if the repayment is £56 a month, and they are adding on £10 interest a week (40 month) , then thats unfair and can be contested, as realistically you wont be paying your debt, and they are adding on extra interest purely to profit from your difficulties. This is defined in OFT guidance on debt collection.

[Irishson]

and would i need to wait for them to acknowledge the plan and payment before contesting the interest, obviously as that would be an agreement in principle from them with regards to my payments?

[renegadeimp]

Theyd probably say youd have to pay it anyway. Easiest way is to pay the original debt owed, then stop paying and contest the rest of the amount. Which would be wholly made up of interest and unfair charges.

[Irishson]

and are they likely to put into debt collection proceedings ie external debt collection companies etc if i am paying each month?

[renegadeimp]

They can try but its against OFT guidance on debt collection.

[Irishson]

so i since have had an email from wonga with regards to my revised offer of £70 for the first 4 months then around £134 thereafter they have sent a breakdown as well starting on the 1st of sept, now i have already paid the 56 and simply emailed that this be reflected on the loan. and be taken as my committment to pay off the loan etc.

[renegadeimp]

Just make sure you stick to the plan YOU proposed. This way it will be them in the wrong if they try to say or do anything.

[Irishson]

I will do, again thankyou for the help, this forum and yourself are a credit to the committment to help people with out judgement or predjudice.

[Irishson]

Hello didnt know where to post this but after sorting my loan with wonga my last big hurdle is paydayuk and wanted some advice as with dealing with them, i have followed protocol and emailed them weeks in advance telling them im not going to be able to afford it and they asked for an income and expediture and they then just emailed back saying i can defer the loan by paying 80 pound and then i emailed to say i want to set up a plan and they said that this would only be possible over the phone, i want to get the plan set up but want some advice in dealing with them?

[renegadeimp]

Everything in writing only. Dont pay the "deferral" fee as it is wasted money.

[Irishson]

Hello quick few questions regarding my payment plan, obviously its going to go down as a default on my credit score, but i wondering a few things

 

1) is a payment plan with a payday loan company an IVA?

2) do they put a default on your file for every month that the loan is outstanding even if you keep to your plan?

3) as i have two payment plans with two PDL companies how badly will that affect my credit score as im saving for a deposit for a house?

 

i'd greatly appreciate any help with these questions?

[Nao]

1: No.

2: They shouldn't, essentially the normal way would be to register one default, then eventually when it is all paid off to update that same default to satisfied / settled.

3: That depends if the PDLs in question bother to put anything in the credit record at all, wonga will, but if the other PDL does, don't know. But there should never be more than one default registered per debt.

[renegadeimp]

In regards to number 2. You can only have one default per debt and the date of default can never change.

 

As for saving for a house, youre not going to like this.

 

To get a mortgage, most lenders are now looking at 3-6 years + of solid, uninterrupted CLEAN credit history. If you have a few late payment markers or 1 default, chances are you wont be able to get a mortgage until some years after that default has expired.

[Irishson]

Hello i have a bit of a problem where wonga are supposed to collect on the first of every month, its now the 5th and they havn't taken anything, i have had no email or phonecall from them and i dont know what i should do, because the money was in the account???????