Wonga - Please avoid this company!!

Apples2

Your reply is so full of holes I don't know where to start.

No I have no connection whatever with Wonga, I do not work in the Financial Industry.

A DMP is not a legally binding agreement, it is just an informal agreement between your DMP company and the creditor. The creditor can completely ignore it if they wish.

Still can't see your problem with the withdrawal, you stopped the card (for your reasons above), I'm still happy to assume you made no attempt to update your new card details with your creditors for alternative reasons.

Your debt (all of our debts) are business assets. They can be passed from company to company at their discretion. If they have breached any rules, that's their problem and I'm sure they will be taken to account for it. There is no law preventing a company selling your debt on.

Legal Aid - Seriously???? I despair.

Peelerfart

Just one point Jezza you seem to have hijacked someone else's thread.

It's forum manners to start your own thread,especially when you're going to talk such
complete bo110ks that it might look bad on the OP.

Thank you for reading.

PF

jezzaruni

Apples2 wrote: »

Your reply is so full of holes I don't know where to start.

No I have no connection whatever with Wonga, I do not work in the Financial Industry.

A DMP is not a legally binding agreement, it is just an informal agreement between your DMP company and the creditor. The creditor can completely ignore it if they wish.

Still can't see your problem with the withdrawal, you stopped the card (for your reasons above), I'm still happy to assume you made no attempt to update your new card details with your creditors for alternative reasons.

Your debt (all of our debts) are business assets. They can be passed from company to company at their discretion. If they have breached any rules, that's their problem and I'm sure they will be taken to account for it. There is no law preventing a company selling your debt on.

Legal Aid - Seriously???? I despair.

Instead of ripping people like myself apart you should be using your obviously superior knowledge to provide constructive advice. Having read through your previous posts it would seem you are very much on the side of Wonga and perhaps other similar companies. Either you're part of a legal team or a frustrated economist - based on your terminology and knowledge shared I would tend to favour the former.

Now go bug someone else.

jezzaruni

For those who have been experiencing some difficulties with Wonga regarding missed payments etc.

JB Debt Recovery is no longer being used by Wonga in recovering defaulted payments. It is recommended to speak to Wonga directly or via your Debt Management Advisor regarding your account.

I have been told that I will be refunded as JB apparently had misinformed my DMP company regarding payments and also had not informed Wonga themselves.

Persistence pays off. :j

CHR15

Great news Jizza, you'll have more money to jizza up against a wall rather than repay your debt.

rrjohnboy

To be fair to jezzaruni, I think the point being made is that after accepting a deal for repayment of the debt, they reneged and went back on the promise. However I think something far more sinister has gone on here which is very important to understand.

Regardless of how people feel about debtors, or rather how they handle debt, the financial world has more than its fair share of sharks hiding behind legitimate façades. Obtaining debt then having the misfortune of not being able to make repayments is NOT a criminal offence. However if a financial institution passed on debit card details to a debt collection agency, then that is an offence, and a very serious one. Not least that they are not authorised to use those details, only the financial institution to which they were given.

I feel instead of vilifying people who have found themselves in financial difficulties, we should applaud them for highlighting sinister practices. To which anyone could find themselves a victim of regardless of whether they have debt or not.

Johnboy

preciousillusions

Hate hate hate Wonga, so sorry others have had such bad experiences too. I find it absolutely hilarious in a sick way that they actually sent me a 'Happy Birthday' message to my e-mail account recently, with an addition of 'you know you can borrow some cash off us still!' Ugh, after the mess i got into with them before. They are just not to be trusted and avoided at all costs, i wish i'd never even heard of them .

misssmcc

their advert is pretty annoying too. i know this comment doesn't help, just saying.

gemmylou86

Hi all, i'm a newbie and have been reading this thread with interest and thought i'd share my experiences...

Firstly -
I'm a customer with Wonga and have used them several times. I can't fault them, however that is only because I have borrowed and paid back on the agreed date.

As for interest rates... it's absurd to calculate this over a year as it's a short term loan. In reality, if you were to borrow say £100 over 30 days you would pay interest of around £40, which i believe is around £1.33 per day of your loan. I would say that is reasonable.

The only downside to using them that I found is that you can get yourself in a cycle of borrowing - being short because you've paid them back and needing to borrow again! I'd say only use a payday company if you're expecting more money than usual come payday (i.e overtime or bonus etc) because it can be a distructive cycle.

As for all the 'other' ways you can get money instead of scraping the barrel with Wonga I would like to enlighten those people - not everyone has a spotless credit record. Wether it be their own doing or things such as long term identity theft, damage has already been done so it's all very well saying 'maybe you should look at why no other company wants to loan to you' but actually that's not helpful.

I agree that people need to take financial responsibility for themselves, however if you've had a run of bad luck or even just bad decisions you can find yourself in a position where you cannot get credit. And until you've tried to live in the real world like that then you cannot comment.

Most people I know nowadays have credit cards, loans, mortgages, store cards and cars on finance. I don't think it's a good thing at all, but if you yourself are one of these people - ask yourself how you would cope in an emergency if you couldn't just bung it all on the Mastercard.
Or buying a second-hand car outright and then forking out for repairs?
or even buying a few extra everyday work clothes with money straight from your paycheque.
See, not that easy.

I don't condone it but it's just a matter of accepting thats how people live now.

So you have no credit and it's a week till payday. The car you've scrimped and scraped to buy breaks down, and you need at least £100 to fix it QUICK or you cant go to work to earn a crust. You have enough money in your budget to live till payday - but not much else. So you borrow from a payday company, knowing you'll have a bit extra next month. Whats the problem?

gemmylou86

Apples2 wrote: »

Still can't see your problem with the withdrawal,

Are you serious?
If some sort of plan has been offered to Wonga for repayments then it goes without saying that the customer in question cannot afford to pay the full amount. If you are not expecting hundreds and hundreds of pounds being debited from your account then this is obviously going to be quite distressing - not to mention it's going to turn your finances upside down if it makes you go overdrawn and then you will end up with nothing on payday. How is that a fair way of doing business?
Yes I agree they have to have strategies for those who deliberately mislead and con them but you must remember this is a big company against an individual. It may be legal but it's certainly not moral.