Wonga - Please avoid this company!!

Derivative

Thinking rationally about it, which is often hard if you're faced with stress of bills coming in in a few days, if you're a low credit risk, people will be jumping at you to lend you £300 at 10%. If you can't find someone to do that, you need to seriously ask yourself why they don't want your custom..

kenh11

First let me say Im not condoning these websites, the priority should be to take control of your own finances and save rather than borrow (nice sig EdgEy) and get into more debt.

However on the flipside, Ive used them once or twice when Ive been short and wasn't in a position to speedily sell my items/ask friends and family etc.

If you use the system as its meant to be used, and 100% know exactly what you are agreeing to, and know you can absolutely definitely meet the repayment date, it can be useful.

Obviously I wouldn't recommend it, but it is there in black and white - if you can't meet the repayments they will clear you out.

And to the OP - sorry but with companies like these who prey on people not being able to pay the loans back you should never just assume the money has been taken.

If your wages have been paid and sufficient money is in your account, log on to the lenders website and pay it back yourself straight away.

redqueen_2

Sadly, the only purpose that Wonga serves on this earth is as the shirt sponsor for Blackpool FC. It's nice to see the lads doing well. I only wish it were Wonga that were closer to the relegation zone.

Come on the FSA - do your job!

serverking

redqueen wrote: »

Sadly, the only purpose that Wonga serves on this earth is as the shirt sponsor for Blackpool FC. It's nice to see the lads doing well. I only wish it were Wonga that were closer to the relegation zone.

Come on the FSA - do your job!

I hope Blackpool pull thru. It was entertaining when they shocked some of the big clubs this season... they, like West Ham will be missed

Any payday loan is a huge risk. At least friends and family could be more understanding. I'd never get concurrent payday loans as I read what one poster did on the previous page - scares the hell outta me:eek:

Apples2

dazlest69 wrote: »

i have just been put £650 over drawn because of wonga. i took out a loan with them some months ago them with one thing and another i have had to put all my debits with a debit management company

Let's stop waffling for a minute. There is simply no way you had such a change of circumstance within the same calendar month you took this loan out.

If you would be honest, you would agree you took this loan, waffling like a trooper, making promises that you can "easily make the repayment" in the FULL knowledge that you would not repay anything.

If you continued to be honest, you were expecting to coin all this money in, jump on the DMP bandwagon and look back laughing at those suckers who are expecting some kind of repayment.

The story as you tell it is complete nonsense. I for one, hope they chase you down.
All they have done is to abide by the very terms you blindly agreed to. Those terms explained quite clearly what would happen if you tried to do a runner (which is exactly what you did).

There are genuine people with genuine problems who need help, you aren't one of them.

Hope this helps.

wilf55

however sometimes people are DESPERATE and whilst i agree its not right to take on the loan knowing you cant or wont be paying it back sometimes its being stuck between a rock and a hard place that clouds your judgement

Apples2

wilf55 wrote: »

however sometimes people are DESPERATE and whilst i agree its not right to take on the loan knowing you cant or wont be paying it back sometimes its being stuck between a rock and a hard place that clouds your judgement

Completely agree, but having clouded judgement surely doesn't mean everything beyond the clouds is unethical or illegal (which is what most imply when the creditor requests payment back).

Unfortunately it is all gates and bolted horses as people take the loans first and face the wrath after, rather than weather the storm and not take one out at all.

RuthnJasper

I hate these sorts of companies. They are vultures that prey on the desperate.

A while ago, I ran out of money before payday with not enough food to last (couldn't borrow - I'm in an IVA). After having read the terms and conditions of Wonga properly, however, I decided that, as desperate as I was, the terms were too ludicrous to accept. I went hungry, and was happy to do so, rather than saddle myself with a liability like those interest rates.

If you're reduced to having to borrow from these parasites then you possibly should be looking at other options to resolve your financial issues.

I'm not without sympathy for anyone who finds themselves in a hopeless fix - but, no matter how desperate, you shouldn't accept a loan without carefully checking and understanding the terms and conditions - OR without checking your bank balance regularly.

Good luck!
xx

Apples2

RuthnJasper wrote: »

I decided that, as desperate as I was, the terms were too ludicrous to accept. I went hungry, and was happy to do so, rather than saddle myself with a liability like those interest rates.

If you're reduced to having to borrow from these parasites then you possibly should be looking at other options to resolve your financial issues.

I'm not without sympathy for anyone who finds themselves in a hopeless fix - but, no matter how desperate, you shouldn't accept a loan without carefully checking and understanding the terms and conditions - OR without checking your bank balance regularly.

I tip my hat to you ma'am, a perfect example of how it should be done..:beer:

RuthnJasper

Apples2 wrote: »

I tip my hat to you ma'am, a perfect example of how it should be done..:beer:

I thank you. As you are Apples2, do you count as two of my Five-a-Day...?