Jump to content


style="text-align: center;">  

Thread Locked

because no one has posted on it for the last 2395 days.

If you need to add something to this thread then

 

Please click the "Report " link

 

at the bottom of one of the posts.

 

If you want to post a new story then

Please

Start your own new thread

That way you will attract more attention to your story and get more visitors and more help 

 

Thanks

Recommended Posts

Hi,

 

I wonder if anybody can help me out here. I got a letter from Wonga yesterday and it's paraphrased below. I'm now working away from home over the weekend so can't post the full piece until Monday but I've included all the important parts below.

 

 

Because of the letters I received I'm due compensation of either £195 or I can go for an individual assessment. Should I choose the assessment the offer then becomes null and void.

 

My debt with them is now with a 3rd party and will become statute barred in about 14 months. I made some stupid decisions when I was a student and am now paying the price for it - as a result I'm fairly certain that I could argue the whole debt should be written off as I would not have met their new lending criteria. My question is twofold.

 

1. Should I accept the compensation and wait for the default to drop off my credit file? But if I accept the compensation am I then acknowledging the debt and risking it not being written off in 14 months.

 

2. If I ask for an individual assessment am I then still acknowledging the debt and potentially starting the cycle all over again. Going over some old bank statements I paid £790 towards this before allowing myself to default.

 

So, basically, accept the £195 and be done with it or fight for more?

 

Thanks

 

SP

Link to post
Share on other sites

Oh, I should also mention that before this I took a couple of smaller loans out with Wonga and paid them back in full. Whether I met the lending criteria at this point or not is irrelevant, I'm not interested in these loans. I took them, paid them back, end of story.

 

SP

Link to post
Share on other sites

If it is due to drop off in 14 months then it will do so - irrespective of whether you accept their current offer of £195.00 or as for an individual assessment :)

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

Link to post
Share on other sites

As the debt has been sold off the compensation will not have any impact on the debt in any shape or form.

 

I'd accept the compensation and take the money.

Link to post
Share on other sites
If it is due to drop off in 14 months then it will do so - irrespective of whether you accept their current offer of £195.00 or as for an individual assessment :)

 

Forgive my ignorance, I was under the impression that in Scotland the debt would become statute barred after 5 years if I did not acknowledge it. If I am correct does that mean that accepting the compensation counts as me acknowledging the debt and, if so, does the clock start again?

 

Thanks

Link to post
Share on other sites
f I am correct does that mean that accepting the compensation counts as me acknowledging the debt and, if so, does the clock start again?

 

The key is that the debt is with a third party, your dealings with wonga will not affect the debt in any shape or form.

 

If the third party that owns the debt would be offering you compensation then the situation would be different, but the way it is you have nothing to fear.

Link to post
Share on other sites
  • Recently Browsing   0 Caggers

    No registered users viewing this page.


  • Have we helped you ...?


×
×
  • Create New...