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graham1973

Wonga writing off debts - can you claimback what you have already paid if they do?

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Afternoon All,

 

I am sure everyone has seen the news about Wonga writing off peoples debts, but question takes it a little bit further.

 

I am in arrears with Wonga and I am coming to the end of a DMP where I have been paying them off.

 

The initial loan was for about £600, and after all arguing and trying to sort things out with them nearly £2000 was added.

 

Can I claim that back ?

 

I not holding my breath though:smile:

 

Any opinions ?

 

Cheers

 

Graham

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I doubt very much they will return monies to anyone who has managed to pay back their borrowing. If I understand things correctly, they have only been ordered to write off any debt that has monies outstanding for those accounts that they would not have lent to under the new lending criteria.


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Why should the people who have paid off their loans be treated any different, if they should have not lent the money under the new lending criteria to those people surely same difference and should be at least entitled to the interest back.

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I am more that happy with the fact I have to pay the principal back and a fair amount interest, I just object to the amount they charged.

 

I would pay £600 + £400 interest, and have the other £1000 back.

 

That would be fair I would have thought

 

I will approach them about this after the 10th and see what happens.

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I think u got the wrong end of the stick graham I was not having a pop, quite the opposite what I was stating was why should u not be entitled to all the lot back if u should not have been lent the money in the first place in your credit rating was pants before u you took the loan out.

 

If people are now getting their loans written off because they should have not been lent it under the new lending criteria, what is the difference to people like yourself regardless of your dmp, in fact they have screwed you even more with the extra interest

especially if your credit rating was pants before u you took the loan out.

 

Certainly worth a try, I would be rattling their cage now.

 

good luck

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My understanding is that consideration is indeed being given to Wonga refunding inappropriately extended loans that had already been repaid. Think I heard that on R4 Moneybox. Someone else will no doubt confirm/refute.

 

I'm in a minority in being baffled at the extent of the sympathy currently being dished out to ppl who chose to accept Wonga's TCs then screamed foul when the co. invoked them. I even see many "victims" openly boasting in the press that they obtained their loans fraudulently - i e supplying false income details.

 

Wonder when all the credit card providers will be refunding the huge huge amounts they granted customers by way of automated credit limit increases with no affordability checks whatsoever. The sums involved at Capital One and MBNA alone must be staggering. Wonga are very small fry in comparison.

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That oleg is just the reason that credit checks need to be done to sort out the chaff from the weed, people who either can or cannot afford their repayments then they would not be able to obtain their loans fraudulently, but Wonga are not stupid they knew that they would get far more business by not doing the necessary credit checks and the money coming in would far out weigh that which was obtain fraudulently and even then they wouldn't lose out, Wonga have only themselves to blame, sheer GREED that what it was.

 

If they want to be a responsible lender, do the necessary credit checks undercut the banks interest rates for borrowing instead of inflating them 1000% then everyone's a winner.

 

Tinks

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Hi Tinkerman,

 

 

Its ok I knew you were not having a pop, I was just sharing my thoughts and expanding a little on my earlier post :-)

 

 

I think I will start drafting some sort of letter to Wonga, it might take some time though, got to get it right first time.

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I wrote to Wonga yesterday asking for details on all loans I'd ever had from them and the amount paid in interest for each. Also QuickQuid.

 

Thankfully, I'm out of the cycle I was once in. I never missed a payment to Wonga or QuickQuid though. I had 79 rollovers and repeat borrowings from QuickQuid and probably a similar number from Wonga. For QuickQuid I think that equates to around 28k of interest paid - absolute madness, but after initally getting into the cycle, it's hard to get out of and they know it.

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Get it in their graham fore they go bankrupt:-)

 

You to James Good Luck

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What I cannot figure out though is surely this new ruling by the FCA must apply to all payday lenders and not just Wonga, but yet nothing been said about the rest of them? because lets face it they have all been at it, some allot worse than Wonga or is this just the quite before the storm do you think!

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https://www.wonga.com/help/historical-debt-collection-issue-redress

 

maroonedevo found this link which seems to have answers to a lot of questions.

 

James31.. 79 rollovers ?? Sheesh.. !!


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PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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I'm in a minority in being baffled at the extent of the sympathy currently being dished out to ppl who chose to accept Wonga's TCs then screamed foul when the co. invoked them. I even see many "victims" openly boasting in the press that they obtained their loans fraudulently - i e supplying false income details.

 

Taking out a loan you can not afford is no different than eating worms to survive when trapped in the wilderness.

 

Trust me, once you haven't eaten for a couple days you'll agree to absolutely everything.

 

Of course it doesn't solve anything in the long term (long term for people who are hungry is as little as 3 - 4 days),

 

 

but there will be underfloor heating fitted in hell before I stop feeling pity for the single mom who took out a pdl

she knew she couldn't repay to buy food for her kids after the bank stole her money with bank charges.

 

If you really want a depression click this link: http://www.trusselltrust.org/stats

 

 

Compared to 2008 foodbank use is up over 3000%.

 

Of course there where also cases of people abusing the absence of thorough checks for fraudulent purposes instead of survival,

but those people usually just supplied a stolen identity during the application,

so they are never asked to repay either way,

 

 

its how one of the most unscrupulous lenders to ever grace our shores bit the dust (MCO Capital),

its also why there used to be plenty of stories on TV about Wonga asking people who never had a loan to pay up.

 

And we should be very careful to not confuse the two groups of people.

  • Haha 1

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if you look at the FOS website and the decisions database and do a search on payday, you will see there is already a fairly strong case of irresponsible lending being built up with most of the cases being upheld due to unaffordability. The wonga story I think sets a massive precedent now though and i believe it will hard for any of the payday lenders to argue about affordability practices of the past - i believe some of them will be looking at settling claims like wonga to make it a least-worst option but the majority of smaller ones will simply go out of business and i doubt there will be any re-dress. Having experienced nearly all of the payday lenders at some stage, wonga were definetely one of the better ones - when you think of the behaviour of the likes of minicredit, it is astonishing they were allowed to get away with some of their practicesjames31- i had something like 50 rollovers with moneyshop which i thought was impressive but you have set a new record lol. whatever the rights and wrongs of payday lending, no one can argue that allowing people to rollover to the volume of 50-70 times is anything but a profit racket. desperation makes people do funny things...

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Has anybody actually heard from Wonga yet ?

 

 

I have spoken to a few people and nobody has heard a thing.

 

 

They stated that everyone would hear by the tomorrow, so they seem to be cutting it fine.

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Has anybody actually heard from Wonga yet ?

 

 

I have spoken to a few people and nobody has heard a thing.

 

 

They stated that everyone would hear by the tomorrow, so they seem to be cutting it fine.

 

They certainly are - they are supposed to have written to everyone affected by tomorrow, the 10th. So either the postman will be very busy delivering these or else they will have failed to adhere to the timeline.

 

I understand that people are still waiting on the last issue regarding compensation for the fake solicitor letters !


Have we helped you ...?         Please Donate button to the Consumer Action Group

 

Uploading documents to CAG ** Instructions **

 

Looking for a draft letter? Use the CAG Library

Dealing with Customer Service Departments? - read the CAG Guide first

 

1: Making a PPI claim ? - Q & A's and spreadsheets for single premium policy -

HERE

2: Take back control of your finances -

Debt Diaries

3: Feel Bullied by Creditors or Debt Collectors?

Read Here

4: Staying Calm About Debt

Read Here

5: Forum rules - These have been updated -

Please Read

 

 

BCOBS

 

2: Does your Bank play fair - You can force your Bank to play Fair with you

3: Banking Conduct of Business Regulations - The Hidden Rules

4: BCOBS and Unfair Treatment - Common Examples of Banks Behaving Badly

5: Fair Treatment for Credit Card Holders and Borrowers - COBS

 

 

 

Advice & opinions given by citizenb are personal, are not endorsed by Consumer Action Group or Bank Action Group, and are offered informally, without prejudice & without liability. Your decisions and actions are your own, and should you be in any doubt, you are advised to seek the opinion of a qualified professional.

 

PLEASE DO NOT ASK ME TO GIVE ADVICE BY PM - IF YOU PROVIDE A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER ADVICE THERE:D

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Same as hear graham people have heard jack nor or they likely to by tomorrow

 

But is that really any surprise :roll: be lucky to here anything by 10 October 2015:-)

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I will ring them on Monday if I don't hear anything

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Nope not a thing. There's two of us that should hear too

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I have just received an email this evening telling me that my debt has been written off - Woo Hoo

 

 

Now to claim the interest and charges back.

 

 

Wish me luck

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I have just received an email this evening telling me that my debt has been written off - Woo Hoo

 

 

Now to claim the interest and charges back.

 

 

Wish me luck

 

Did you actually pay anything towards the charges?


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Yes that is interest which has now been wiped.

 

Have you actually paid anything over towards charges?


If I have helped you please leave me a message by clicking my star

 

1. Single Premium PPI Q&A Read Here

2. Reclaim mis-sold PPI

Read Here

3. Reclaim Loan & Credit Card Charges Read Here

4. The CAG Interest Tutorial

Read Here

5. Feel Bullied by Creditors or Debt Collectors?

Read Here

6. Staying Calm About Debt

Read Here

7. Thinking of a Full & Final Settlement?

Read Here

 

How To Upload Documents To Cag

Instructions

 

I DON'T GIVE ADVICE BY PM BUT IF YOU SEND ME A LINK TO YOUR THREAD THEN I WILL BE HAPPY TO OFFER HELP THERE

 

 

 

Private message facilities are offered for users to communicate issues that are perhaps inappropriate for posting on the main forum. Site rules explain this in more detail.

 

If you receive a private message which you consider abusive, derogatory or otherwise inappropriate, whether it be about yourself or other members, please report it using the "report" icon

 

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my views are my own and are given in good faith to try and help people. Please seek professional advice on your case if necessary

 

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That is the figure I have paid, now if the loan should not have been given then I should never paid the interest

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