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Has anyone been contacted by wonga to write off their loan?


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Hey, currently sitting here with a stupid wonga loan, on a repayment plan. in arrears by 270 days at £320. Been amending my repayment plan almost every other month as I am unable to afford it due to loss of hours at work due to disability. When I took this loan out I was in a bad place, and only earning £350 a month, i believe that they should have refused me on the basis of my income.

 

I phoned them and they said I would receive an email today or tomorrow(!) if my debt was being written off.. Been worrying about this all week.

 

So, has anyone else been written to regarding this matter? I still havent, no post, no email... seems like they're trying to pull a fast one.. Infact, after I called them they sent me an email asking to do a survey with the chance to win £100! The cheek.

 

Cheers

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See wonga website

 

Under New announcement from the Financial Conduct Authority

 

What happens next?

 

We have now sent an email to the relevant customers, as identified above, on the 10th October to let them know they have been affected by the affordability issues.

It's easy for you to deal with us directly. You don’t need to use a Claims Management Company (CMC) who will typically charge an upfront fee. In most cases we are forgiving your outstanding debt, rather than returning you with a payment, so you will be left with a bill to a CMC. We assess cases sent directly to us in exactly the same way that we treat cases from a CMC.

If you would like to find out more about these lending criteria changes and how they might affect you, please click here. Alternatively, if you would like to talk to someone from our customer care team please call free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830.

 

So according to that the people affected have been informed by email t/day?

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This is the email sent today,

 

 

We want to put things right for our customers

 

We are writing to you as a Wonga customer. If you believe you have received this email in error please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830.

 

Dear Mr

 

You may have already read or heard in the news recently about an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria.

 

We can confirm that you have been affected.

 

The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. We have investigated your case and we believe you are one of the customers who have been impacted as a result of these historical affordability issues.

 

 

What happens next

 

We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything.

 

We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We expect this will take between three to four weeks to be completed. This will be done automatically and there is no further action required from you.

 

 

Key Facts

for customers

We have committed to a major customer forbearance programme in light of changes to our lending criteria

 

We have identified you as being affected by affordability issues and so we are clearing any outstanding debt on your loan

 

Please do not make any further repayments

 

You do not need to do anything. We will contact you to confirm that your balance is zero.

 

For further information, you can find out more on the lending criteria changes

 

If you are currently making repayments to us, such as by Standing Order, please do not continue to do so. We recommend you contact your bank to cancel these repayment arrangements. Please be assured that, should a repayment be made, we will refund this amount to you.

 

We will contact you in due course to confirm that your balance is zero.

 

If you are in an Individual Voluntary Arrangement (IVA) or your debt is being managed through a Debt Management Provider it is your responsibility to inform the person managing your debt of these changes.

 

On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions and for this we apologise. We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans.

 

You can find out more about these lending criteria changes here. Alternatively, please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830.

 

Yours,

 

Tim Weller

Interim CEO, Wonga Group

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Well my loan goes back years and was sold on ... Yet I've not had an email. An I am certain I wouldn't get it under the criteria in place now as was a uni student with only bursary income !

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I believe there is a form to fill in, on their website - if you believe you have been affected but not contacted - then perhaps it would be an idea to contact them.

 

If they are only making contact with people where they have retained the accounts, then IMHO they are not playing fair..

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The initial post from Wonga said ALL customers would be contacted to confirm whether they had been affected OR not.

They have now changed this to say that all AFFECTED customers have been contacted.

 

 

Nothing to challenge/clarify their decision. Very poor.

The fact my loan is in arrears 130 days is, I would say an indication their lending criteria were flawed in my case, yet no email. :[email protected]

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If they are only making contact with people where they have retained the accounts, then IMHO they are not playing fair..

 

Not sure what they can do in cases where they sold the debts to the dodgier end of the DCA pool, cause I highly doubt companies like MMF will be very cooperative.

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Just off a 33 minute phone call to Wonga (about 30 of that on hold!) to query why I was not selected for their 'forbearance' programme. In a nutshell, the guy couldn't help. He gave me this email address: [email protected] and advised they were the relevant department to explain why. I just find it a bit silly that they can reject my complaint on how they have handled my loan on the grounds of their lending criteria/affordability then publicly state in black and white that these grounds are/were flawed! Hopefully the address is of use to some people however. :)

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Seems their being selective ! As my partner and I both fall into the h affordable group.

 

The only form on their site is about the fake letter thing I think. I linked to it in this or a similar thread.

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I have received an e-mail from them but my partner who has been in arrears for 133 days has not had one from them.

 

It seems it's the accounts with the lowest days of arrears over the 31 days thats been accepted.

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Seems their being selective ! As my partner and I both fall into the h affordable group.

 

Hi

Where did you u get the above info please

 

It's just my observation based on looking around the web.

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Sorry just asking as I thought it may have been something Wonga had said regarding their new lending criteria of which other people in the same boat may have found useful to establish whether or not they fall into the same category or not.

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I had an email late today about 7ish saying I was affected, however im not in any arrears with them but I am starting to find it tough and kinda relieved as I wasnt looking forward to when I have to pay them next as I been borrowing 1000 at a time and having to repay like 1380 in total every time which then pushed me to get other payday loans. the problem isnt the loans but the interest they are charging as it started with a 400 loan which I thought would be 3 days and didnt mind paying the 20ish for the few days but then things happen that mean you are later paying it and that small cost multiplies and theres nothing you can do until you can afford to pay it back. whats worse is the banks dont even give you a chance of a decent overdraft or a small loan. if the banks will lend you £500 they are also happy to lend you £5,000 but a smaller loan and they aint interested in the slightest which is why payday loans have become so popular.

 

dont get me wrong its my fault for borrowing from wonga but when you have no other options and you gotta get the car fixed for work you kinda have to survive and make it happen. wonga was my last hope and they happilly helped me but its the charges that are so morally wrong. a bank say 19.9% why couldnt wonga be like 99.9% instead of the 1,000's% that they are. I have so far not had any problems paying on time but now im borrowing in the 1,000's its got way too expensive for what started off as a low amount

 

im also curious if they are just refunding the interest on my current loan or all of the loans I have had with them

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You may have already read or heard in the news recently an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria.*

 

We can confirm that you have been affected.*

 

The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. Your recent loan would not have met the new criteria.*

 

What happens next*

 

This will depend on the status of your loan. Please see the relevant section below which applies to you:If you have not yet reached your repayment date:*Please continue to repay your loan as planned. We will then remove the interest and fees for this loan automatically by the end of October 2014.*

 

If you feel that repaying the loan as planned will put you in financial difficulty, please call us on the contact details below. We can set up a 4 month repayment arrangement to make paying off the outstanding loan amount easier. This arrangement will help you to clear the balance from which we will remove all interest and fees.

 

Please note, you can*cancel your Continuous Payment Authority*before the due date of your loan by contacting us or your bank directly.If you have missed your repayment date:We will reduce your outstanding balance to remove all interest and fees on your loan.*

 

If you already have a repayment arrangement in place, your agreement will continue as normal. However an amount equal to the interest and fees will be deducted from your final payments which will reduce the total amount you need to pay us. If you wish to change your existing repayment arrangement, please contact us on the numbers below.

 

If you do not already have a repayment arrangement in place, we can set up a 4 month repayment arrangement to make paying off the outstanding loan amount easier. This arrangement will help you to clear the balance from which we will remove all interest and fees.If you have already paid back your loan:The interest and fees of your loan will be automatically refunded by the end of October 2014. If you are experiencing financial difficulty, please call us and we will aim to have this refunded within 48 hours.We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We will make best endeavours to complete this in three to four weeks. This will be done automatically and there is no further action required from you.

 

On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions, and we intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans.

 

You can find out more about these*lending criteria changes here. Alternatively, if you would like to talk to someone from our customer care team about any of the above options please call free on*0800*042*0210*or if you are calling from a mobile on0333*003*0830.Yours,

 

Tim Weller

Interim CEO, Wonga Group

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The initial post from Wonga said ALL customers would be contacted to confirm whether they had been affected OR not.

They have now changed this to say that all AFFECTED customers have been contacted.

 

 

Nothing to challenge/clarify their decision. Very poor.

The fact my loan is in arrears 130 days is, I would say an indication their lending criteria were flawed in my case, yet no email. :[email protected]

Read an article this morning... http://www.theguardian.com/business/2014/oct/10/wonga-loans-granted-write-off-dithers It mentions in there that at some (undefined) point, Wonga will contact EVERYONE regarding this matter, then the floodgates will really open with Complaints I expect! Get in now if you feel you have been incorrectly 'missed'.

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I am going to move two posts

warnerman's post # 20 and jamezon's post #23 to a separate thread in order to highlight this specific point.

 

 

http://www.consumeractiongroup.co.uk/forum/showthread.php?434551-Wonga-dithers-over-writing-off-improperly-granted-loans

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

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3: Feel Bullied by Creditors or Debt Collectors? Read Here

4: Staying Calm About Debt  Read Here

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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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my husband who has been paying wonga 220 a month for the last 9 months final payment this month rec a letter yesterday saying debt was to be wiped bit late

i however am over 80 days late and i have not rec anything from them i am confused any help?

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