Wonga - help!

olivia84 · 20 October 2011 at 4:47PM

hi there,

i know folk must be sick fed up with reading threads with WONGA in the title!!

Sorry to bug everyone again but does anyone know when wonga eventually sell their debts on to a 3rd party or come to arrangements with their debtors??

i have had a wonga loan outstanding since may (amount owed then - £807; amount owed now - £1174 :eek:) i know, i know; utter stupidity! my logic behind it was that if i totally ignored them, after a few months they would either freeze the interest and sell the debt on (as my other 3 payday loan people have done) or be more cooperative with me when i do contact them to come to an arrangement.

i also read on another forum that their owner apparently said in an interview that they stop applying interest after 60 days??

i also thought, they're gonna add interest no matter what i do - if i'd have kept paying them the original loan, i would have probably been what they've added on in interest now in fees to roll the whole lot over and over again (which i would have had to have done)

basically does anyone have experience of ignoring them!?

do they eventually freeze interest and accept your proposal? (i've read some horror stories about them refusing point blank alot of proposals)

i can only offer them a token amount of £5, which i know they will laugh in my face at!

i'm genuinely not ignoring them for the sake of it - i really thought they'd have passed it on by now.

thanks for any advice

olivia x

olivia84 · 23 October 2011 at 4:07PM

anyone?? xx

amorge · 23 October 2011 at 4:09PM

Hi Olivia, didn't want you to think no one is reading this....sadly I can't give an advice though. I hope you manage to sort it out

crazyguy · 23 October 2011 at 4:11PM

Well you can of course do the obvious thing and speak to them with a view to organising a repayment plan.

olivia84 · 23 October 2011 at 4:12PM

awww thanks amorge! its hard to know wheather to start a new thread or tag onto the end of another one! there's sooo many threads and info on payday loans - it can be awfy confusing!

xx

olivia84 · 23 October 2011 at 4:15PM

thanks crazy guy - i know that is the obvious but i have read sooo many stories of wonga in particular simply refusing all negotiations when it comes to repayment plans, ignoring emails, letters etc; thought i'd try the opposite and ignore them completely until i think they may come to a sensible arrangement with me.

crazyguy · 23 October 2011 at 4:17PM

olivia84 wrote: »

thanks crazy guy - i know that is the obvious but i have read sooo many stories of wonga in particular simply refusing all negotiations when it comes to repayment plans, ignoring emails, letters etc; thought i'd try the opposite and ignore them completely until i think they may come to a sensible arrangement with me.

Have you ever heard the expression bury your head in the sand ?

It will not go away and speaking to them as with any debts is the best option as they would in the majority of cases work with you in order to get there money back.

olivia84 · 23 October 2011 at 4:22PM

i know crazy guy - i promise you i'm not burying my head in the sand - i know the debt's there - i fully intend to pay it - i know it won't go away; i suppose i'm being selfish and wanting to pay it back on my terms, when i have paid other priority debts; it feels the best way for me, pay secured debts, utilities etc first. i will give them a phone in the morning and see if they accept my proposal of £5 per month (yea right - sure they will!)

crazyguy · 23 October 2011 at 4:24PM

olivia84 wrote: »

i know crazy guy - i promise you i'm not burying my head in the sand - i know the debt's there - i fully intend to pay it - i know it won't go away; i suppose i'm being selfish and wanting to pay it back on my terms, when i have paid other priority debts; it feels the best way for me, pay secured debts, utilities etc first. i will give them a phone in the morning and see if they accept my proposal of £5 per month (yea right - sure they will!)

You wont know until you try, also you should head over to the debt free threads on here and draft an SOA.

Wonga - help!

Comments

Categories

Get our FREE Weekly email full of deals & guides - and it’s spam-free