Please help me with Wonga!

carmen10

Hello, Im posting on here as I have got into real difficullty financially especially with payday loans. I think most of them i can come to some sort of arrangement, but not Wonga. I owe them £1100 this month with interest and I contacted them and they were so unhelpful. All the could say was pay the interest plus as much extra as I could to clear the debt, but thats the whole point I can't!!

I have the option of either rolling over and paying 200 hundred and odd off what i owe or paying it all and refinancing again. Is the anyway I can get them to accept a small paymemt each month? Does anyone know?

Rafter

call national debtline, CCCS or citizens advice.

As an unsecured creditor, they cannot make you pay more than you can afford, but it seems pretty obvious you need a more permenant solution to your problem.

Suggest you get yourself a basic bank account for your salary to go into as well, otherwise Wonga will try to clear your account out as soon as you get paid, leaving you in a tricky spot.

Good luck

R.

carmen10

If I get a basic bank account though for my salary, what will happen with the overdraft Thta i already have. I obviously cant afford to pay it back

carmen10

Anyone else help please??

jennihen

Hi carmen - this is just advice ok - I'm not an expert but I am debt-free (finally!!!). I would open another bank account to have my wages paid into and I would post my income/outgo on the debtfree wannabe board.
£200 a month to roll-over the debt will cripple you in a short time. Without knowing your circumstances its hard to advise. You'll get a lot of suggestions and some won't work for you but there will be one thats a viable option.
Post some more details on this board or DFW
O/D?- again need more info about income etc.
To you its a mess but to other MSE's its a challenge!!
Don't despair
JH

carmen10

Thanks Jenni.

Thats what ive just done. Just opened an account with the coop over the phone, for my salary. Dont know how much wonga will continue to hound me though.

jennihen

They will hound you - you owe them money and they are ruthless. They prey on people who are in need, offer them a helping hand and then go for the jugular. You are now trapped.
I don't know your financial circumstances but I urge you to post all. This is the nicest wake-up call you can get. People on this site are ready to help. Are you ready to be helped??
Here for you
Jen x

dougyd

I've been dealing with PDL companies myself recently and they were all helpful.

Do open a different bank account and have you wages paid in, PDL companies are notorious for pilaging your bank account without your approval.... only happened to me once and I had a contingency incase they did it (payday express).

Offer Wonga an afforable payment plan and see what they say, tell them that due to priority expenditures you won't be able to afford to continue in the loop and that you would like all interest and charges frozen from your account.

Make sure you let them know that you want to behave responsibly and that you want to make sure the debt is repaid in full in the quickest time frame possible and that your proposal is that.

They may not accept it, them may negotiate on it or they might accept it.

All of mine accepted or negotiated on the plan to my satisfaction.

carmen10

Well i have changed my account now, just need to sort my salary. It wont go through until next month so im not sure yet what i will do this month when i get paid. I will offer them an amount i can afford, but last time I spoke to them they wouldnt even listen

I will try again this month when the amount is due.

So doug all you payday loans were ok about you paying reduced amounts?

dougyd

carmen10 wrote: »

Well i have changed my account now, just need to sort my salary. It wont go through until next month so im not sure yet what i will do this month when i get paid. I will offer them an amount i can afford, but last time I spoke to them they wouldnt even listen

I will try again this month when the amount is due.

So doug all you payday loans were ok about you paying reduced amounts?

Yes, although Quickquid were the worst, they didn't agree to my proposal at all over the phone so I emailed them, they accepted (I said I want to resolve the issue for both parties as quickly and responsibly as I can).

They wanted it paid in 4 months not 5 like my proposal so I have scheduled an increased payment (will be clear on the 21st of October).

Paydayuk were very helpful and accepted my 5 month schedule (finishes next month).

Wageday advance have agreed to let me clear it within a 6 month period (i'm upping the payments to clear for next month.)

My total arrears came to about £1300, now down to about £600.

Edit * payments started of as £50 per company for the first 2 months then rised to around £130 and will rise again next month to clear the balance's.

Rafter

carmen,

fill out a 'statement of affairs' using this link.

http://www.makesenseofcards.com/soacalc.html

It will tell you how much surplus income you have each month and how much you can afford to pay to all your creditors.

Please take professional (but free) advice from CCCS/ Debtline or Citizens advice about getting yourself out of a debt spiral though.

Good luck

R.