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About to request Repayment Plan with Wonga

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Guys, I have been a member of the CAG for several yrs now and must admit I never thought I'd find myself asking advice of this nature. I have managed to spiral my Wonga Loan out of control to the extent that I borrow about £1.089.00 a month merely to cover mortage payments, (I know crazy stupid sitsuation I have got myself in !!!) by my next payday 28.11.2012 I will be paying them £1450.00. I have got myself in such a crazy fix that I am left with no alternative but to request a repayment plan if only to minimise the interest Iam being charged very month.

First and formost, after reading other posts on here, i believe Wonga will not even deal with me until i actually default. As a result I was wondering if anyone could asist with the following.

1. Can anyone possibly help with an initial letter to Wonga requesting the Repayment Plan (Iam planning on letting them know asap, that there will be a likley default on the 28.11.2012)

2. Can anyone let me know how long Wonga will allow a Repayment Plan to run. (I am looking to possibly clear the balance of £1450.00 back over a 10 month period at approx £140 per month. I

I have already put the background stuff in place..ie set up of basic bank account for salary, cancelled debit card and will be informing bank and Wonga of cancelled CPA instructions.

Just hope the buggers will agree to my proposal. I will of course merely send them basic I/E info and insist on all correspondance in writing.

Any further advice would be most welcome folks, as Iam also in a similar situation with Pounds tilpayday to the tune of £600..so I will be employing a similar course of action with them.

Edited by biffa1965
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Hi biffa1965,


Wonga does usually repayment plans up to 18 months, but they are requesting to complete an I&E excel, which will detail what you have left this month and assess it according to this.

24/7 Moneybox: 195.00 - Oustanding: 0.00

British Pearl/Spondoolies: 752.10 - Oustanding: 0.00

Cash on go/Peachy: 206.30 - Oustanding: 0.00

EarlyPayday: 325.00 - Oustanding: 0.00

Lending Stream: 1398.46 - Oustanding: 0.00

MicroLend: 780.00 - Oustanding: 0.00

Minicredit: 520.00 - Oustanding: 0.00

MonthEndMoney/PaydayUK: 937.50 - Oustanding: 0.00

MrLender: 715.00 - Oustanding: 0.00

Pounds2Pocket: 2328.00 - Oustanding: 0.00

QuickQuid: 1800.00 - Oustanding: 0.00

SafeLoans: 450.50 - Oustanding: 0.00

Speed-E-Loans: 516.00 - Oustanding: 0.00

SwiftSterling: 1295.00 - Oustanding: 0.00

Toothfairy Finance: 544.00 - Oustanding: 0.00

TxtLoan: 450.00 - Oustanding: 0.00

WageDayAdvance: 670.80 - Oustanding: 0.00

Wonga: 1336.86 - Oustanding: 0.00

Total: 15220.52 - Oustanding: 0.00

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Cheers guys, Iam terrified at the prospect of going through this, as I understand it as soon as you request a repayment plan, they add a I&E to your account online, ive heard theyve have been granting some repayment plans but at crazy repayment rates over periods of 4 and 5 months. Sharpend, ive had no reply yet either but Iam lead to believe that they will only deal with you at the point to actually default. Iam not due to default untill 28th November 2012..just know now iam not going to be able to afford it.

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Hi Biffa,


Thanks for the advice in my thread. However it seems they accepted my repayment plan with no bother what so ever. And you are are right,, you have to default first. It seems they accepted my plan without even a struggle. I didnt fill out any I&E and i had no intention of doing so anyway. Only thing i will say is that it was about 5 days before they replied to my emails.

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