Wonga, Is this allowed?

xkittyxcatx

From working in collections I was under the impression they can't take benefits. Although they do. I know some places will refund it if they took benefits for a right of set off. No experience with Wonga though.

sarah_williams_2

Wonga , Great if you need cash fast.
I have used it before ...sadly my situation changed but I was aware that I had a pending payment to make to Wonga ..so after some thought I had no choice but to cancel my credit card , the details you give them when you are applying .....food for thought . Hope you have talked to your bank as sometimes they can help if your on your knees .....

Blitz01

sarah_williams wrote: »

Wonga , Great if you need cash fast.
I have used it before ...sadly my situation changed but I was aware that I had a pending payment to make to Wonga ..so after some thought I had no choice but to cancel my credit card , the details you give them when you are applying .....food for thought . Hope you have talked to your bank as sometimes they can help if your on your knees .....

Sorry, but cancelling a card does not/will not make the slightest difference. They can still take the money and rightly so.

Far too many people are taking these payday loans, knowing full well that they will not be able to pay it back, then come moaning here when these loan companies take money which you have signed and agreed that they can take.

pcpostie

i have seen the adverts on tv, they prey on the people that need money the most and then rip them off in interest. its terrible do not ever borrow from companies like that x

opinions4u

pcpostie wrote: »

i have seen the adverts on tv, they prey on the people that need money the most and then rip them off in interest. its terrible do not ever borrow from companies like that x

I'm pretty much of the view that if you find yourself needing a payday loan you are in one of two positions:

1) Your budgeting needs to improve
2) You are absolutely stuffed financially

If you fall in to category (1) a payday loan may work out cheaper than bank charges. In which case, I can see a case for taking one. But only one (although simply stopping spending may be a better solution). It's your warning that you need to take control of your money and manage it better. If you don't heed that warning, then more fool you.

If you fall in to category (2) then a payday loan is totally pointless and will just make your situation much worse. Go see a debt charity, don't take out more credit.

Blitz01

pcpostie wrote: »

i have seen the adverts on tv, they prey on the people that need money the most and then rip them off in interest. its terrible do not ever borrow from companies like that x

Thats ridiculous.
They prey on nobody at all.
If you are adult enough to sign on the dotted line, you are adult enough to know the terms of the contract.

The interest is actually cheaper than most overdrafts of you care to look at the facts rather than just following the crowd and stating the first thing that drops into your mind.

fozmcfc

Payday loans do serve a purpose, but if you really need to borrow £100, then clearly you have no money at all and need to address that rather then take on further credit.

People who take them and risk a change in circumstance means they can't pay them back seriously need to sort out their finances, rather than use them.

Back in my bad old days, my debts were at £15k + and I now shudder to think what would have happened if I had lost my job.

Going back to the taking of benefits point. I know if you ring them they are likely to say tough. But I remember people posting, that if you get some outside party to pressure them and tell them they have removed someones benefits and it can be proved they have to refund the money.

Enfieldian

xkittyxcatx wrote: »

From working in collections I was under the impression they can't take benefits. Although they do. I know some places will refund it if they took benefits for a right of set off. No experience with Wonga though.

How on earth are Wonga supposed to know that they money is from benefits?

They are simply looking to get their money back as the borrower has defaulted on the agreement and not repaid their loan as they originally agreed.