Wonga Nightmare!!!!!!!!!!!!

jonesMUFCforever

I don't know of any bank that would charge just £10 for a failed attempt for a payment and why would they try 5 times unless there was a reason to do so?
Something is not right with this story if you ask me.

tuggy12

Typical 2689% APR

Jesus wept !

grey_lady

Is that APR for real?

Just wanted to quickly post in reply to one of the earlier posts about a company being 18 months old and not having submitting reports to companies house, that's actually not unusual companies have 9 months from the end of their first accounting year to submit accounts.

If that APR is real on the other hand then that in my eyes is criminal.
Personally I would cancel the direct debit and run to the cab / cccs!

grey_lady

Just checked on wonga's website, stunned to discover that 2689% APR is correct!!!!


BTW I think the OP meant that Wonga were adding the charges to her loan, not that her bank were?

chuckley

APR doesnt count in short term borrowing. However it is still shocking, if actually used for a long term loan.

carl1981

theartfullodger wrote: »

According to Companies House (Public info available to anyone for no fee) Wonga are...
Name & Registered Office:
WONGA.COM LIMITED
88 CRAWFORD STREET
LONDON
W1H 2EJ
Company No. 06374235

Status: Active
Date of Incorporation: 18/09/2007

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC(03)):
6512 - Other monetary intermediation
Accounting Reference Date: 31/12
Last Accounts Made Up To: (NO ACCOUNTS FILED)
Next Accounts Due: 18/07/2009
Last Return Made Up To: 18/09/2008
Next Return Due: 16/10/2009

So, 18 months old, never filed any accounts...

The year end is 31/12/08 - in this financial climate, I'd rather a money lender prepares accounts which include a full disclosure of post balance sheet events - not necessarily complete if prep'd and filed now. My personal companies have the same year end and havent filed accounts, and are not required to yet.


Hmmmnnnn.. wonder why they don't want to file their accounts? IMHO if I were WongaWoman I'd be nervous about continuing to be paid..

Dont be so silly, see above

The address is, according to Royal Mail for two people/companies...
* Cameron Baum,88-90,Crawford Street,London, W1H 2EJ
* The Toby Press Ltd,88-90,Crawford Street,London, W1H 2EJ

Cameron Baum are a firm of accountants. According to them Wonga are a "Client but not based here". On my enquiring politely where Wonga were based the young lady declined to advise me, but gave me the expensive 087.. number..

Too right, she has a duty to uphold confidentiality

There appear to be a lot of other companies registered at this address...

Yes, its an accountants office, many accountants offer a registered office service

Sounds a bit flaky to me, although I'm sure Wonga would be happy to provide a fuller explanaition & put all our minds at rest.

Could we start, please, with where the offices actually are (the offices where the 'phone call ends up) and a copy of the current accounts? I'm sure they have nothing to hide...

Cheers!

Artful

Artful, I have no connection to the company wonga, or the accountants, but can't bear to see embarrasing posts like this where the company actually hasn't done anything wrong!

I'd hate my companies to be under your "microscope"

grey_lady

More to the point, how does Wongawoman sleep at night?

Extant

grey_lady wrote: »

More to the point, how does Wongawoman sleep at night?

Why wouldn't she? Because she works for a company that is some how against your own set of standards? :rolleyes:

Companies stay in business because of customers, not the staff. For all you know, WongaWoman is a completely honest person who tries to help people as best as she can.

jd87

Also, people shouldn't be so quick to judge when they see APR figures like 2689% or whatever. Wasn't one of the questions on Martin's money IQ thing about APRs and how you can't just go by the percentage amount?

tyllwyd

E504 - how sympathetic is your employer? Was it their mistake that your wages were late - if you say that you have incurred bank charges as a result, would they be possibly be willing to give you a loan?