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Hi,

 

I entered a repayment plan with Wonga to pay £5 per week until May and then increase it to £10 a week until the loan was cleared. I haven't missed a payment but the amount I owe seems to be going up! For a £500 that I had started repaying before my due date they now say I owe them £690 and I've been paying them the £5 a week since before Christmas! When i started the repayment plan I only owed them £480 so they can't be deducting my payments and are adding more on in interest than I am paying per week!

 

Please Help! I don't know what to do! We actually felt like we were getting somewhere with clearing our debts then this happened! What do we do! I'm not paying them all of that! I don't see how I can possibly owe that much!

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Theyre probably adding on unlawful charges and interest. Thats why we always advise people to make sure that the stopping of interest is part of the repayment plan. Besides, they are breaking OFT guidelines by hiking the debt up when you have informed them that you are in financial difficulty.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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That's what I don't understand! We have an email stating they have frozen all interest and charges. I have just emailed them a formal complaint about this and demanded a full breakdown of all charges, and every payment I have made to date. I'm not paying them a penny more than I have too! And here was me saying they were one of them better PDL companies! Or not!

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Ok. Then you need to stop paying, and DEMAND a full breakdown and a full explanation why the debt is still increasing. Tell them that you are informing the OFT in a full complaint. You must make sure you send the OFT the complaint.

 

Regarding PDL companies, there are no good ones or better ones. The ones that were good stopped trading a while ago due to the way the industry is seen and the fact that fraud and illegal activity is commonplace. They even voluntarily wiped almost half a million GBP of loans to show they were serious.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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