Wonga Please help???

Hi new on here and praying someone can help? I took out a payday loan of £150 to be paid back on the 30th dec, Couldnt make my payment and have tried and tried to call wonga.com to arrange payment for end of Jan, however im on hold for 15mins at a time and cant get through or they cut me off, They have sent me 3 e mails and now state i owe them £292, I have cancelled my card and heard horror stories of them clearing out accounts, Is it right i now owe so much?? dont know what to do please help _pale_
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Comments

  • cooltt
    cooltt Posts: 852
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    Congratulations now you know why you should steer clear of these scam merchants no matter how desperate you are.

    Pay what you owe as soon a possible unless you want this bill to go through the roof.

    Payday loans etc... are nothing more than legalised loan sharks.
  • Sorry Donz, have to agree with cooltt on this one. You could try phoning them off-peak in the hope that someone will answer?

    If you have facilities to make payment to this Company then my advice is to get this paid back in full asap (with receipt) and steer clear of these kind of companies. Best wishes for the future LMSM
    Always looking to save and be happy:j
    Sealed pot challenge - aim £500:j
    Look after the pennies the pounds will take care of themselves:rotfl:
  • LDJ2009
    LDJ2009 Posts: 159 Forumite
    Hi, i have Wonga's bank account details and a direct landline number for their collection team.

    I'm out at the mo, but will pm you the details when i get back.
  • LDJ2009
    LDJ2009 Posts: 159 Forumite
    I've pm'd you.

    For info, Wonga charge daily interest on default balances at the rate of £1 per £100 borrowed

    Call the number i've given pm'd you and ask them to freeze your account to allow you to pay the loan off.

    Hope that helps. Let me know if you need any more info
  • It will not matter that OP has cancelled his card Wonga will force through a payment on his old one.
  • preciousb
    preciousb Posts: 287
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    Whatever you do, get in touch with them asap. I had a scenario like this months ago. I kept getting cut off but eventually got through and arranged a plan with them. They were reluctant to set up a plan to start with but eventually got them to agree to a plan over the phone.

    Best advice clear it and steer clear of payday loans.
  • Snakeeyes21
    Snakeeyes21 Posts: 2,527 Forumite
    cooltt wrote: »
    Congratulations now you know why you should steer clear of these scam merchants no matter how desperate you are.

    Pay what you owe as soon a possible unless you want this bill to go through the roof.

    Payday loans etc... are nothing more than legalised loan sharks.

    Thats a bit harsh.
    Ive used them many times to get me out of some sticky situations, without a single problem.

    To say their a scam is just pigheaded and ignorant, do you not live in the real world where some people have no other option to use these companies?

    oh what it must be like to have a bank balance so big that you never have to worry about money.

    Believe it or not wonga are one of the best of a bad bunch, I know I've tried them all :o

    The op would have been given a chance to extend their loan by paying 20 or 40% of what they owed, then paying the balance plus interest ikn another 30 days, is it wonga's fault they didn't do this?

    At what point are they a scam? are people not made aware of charges?
    are people not made aware of what will happen if they don't pay them back?

    Or are you saying they become a scam once somebody doesn't stick to the terms and conditions that they freely agreed to, and start getting additional charges.
  • Its scary how these 'small' loans add up to large amounts, but i used to work for a payday company as a manager and they are not scams. all the terms are in writing and we used to get customers coming in month after month to put off their loans and they ended up paying 3 or 4 times the original loan.

    Its not a scam, its just an exorbitant rate of interest.
  • LDJ2009
    LDJ2009 Posts: 159 Forumite
    I have to agree with freeoffers, i got myself into the mess with payday loans, i signed the agreements and it was me that kept applying for other loans to have the money to extend the original ones.

    There needs to be more information on alternatives to payday loans and some kind of safeguards in place to stop borrowing from multiple lenders as you can see from my signature, how much debt i was able to build up in a very short space of time.

    For those that are sensible enough to clear them after the first month, they serve their purpose.
  • It seems crazy that you cancelled your card. Your concern here is that you want to pay back your loan & get your debt cleared, so you cancelled the only way that Wonga have of clearing your debt?!?!

    Cooltt, whilst this may not be the right product for you it doesn't really mean that Wonga are a scam. They've done what they said they would and are probably charging the (high) fees they said they would. It's not a scam, just an expensive loan ;)
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