Bank Charges

DC34

Guys,

Can anyone offer advice.

A horrible payday company called Wonga took £5 from my old bank account (i no longer use Santander)which put me into overdraft.
The bank levied a £25 charge for the item and £70 pounds worth of charges.

I called them and they would not stop or cancel my account the charges went up to £112 and i thought i would just ignore this and hope that it goes away.

I just logged in again to the bank account and they have schedule to log another £100 or unauthorsied overdrafts fees for March in April this will take me to £212 charges for a £5 item

Please tell me that i wont have to a pay this.

I have tried to cancel the account and they will not listen

HELPPPPPPPPPPPP :mad:

DC

originalmiscellany

Why did they take £5? They wouldn't take the money randomly would they?
When you contacted them immediately, what did they say? Wait a minute you buried your head in the sand!

I fear you will have to pay up, the principles to take from this are to
a) never use payday loan companies
b) Keep an eye on your finances
c) As soon as you see a problem flag it up and don't hide
d) Keep us updated as to what will happen

DC34

I had a loan with the payday company and had defaulted, the bank authorised it.

£200 of charges for £5

If ignore this this month next month it will be £300 dont know what to do

DC

DC34

Bump

Any ideas

dzug1

Pay off the payday loan company

Pay off the bank - the bank didn't authorise anything - you did. Then close the account.

Or accept the consequences - CCJs, being hounded by debt collection companies, etc.

It won't 'go away'

DC34

Payday loan company and myself have settled for a payment plan.

I dont have the money to pay the bank, will they just keep adding charges?

Thanks for the pearls of wisdom BTW

Dont you think if i had the money i would have paid it off

dzug1

You'll need to ask the bank - if you do nothing they will just keep adding charges. They ought to be willing to come to a payment plan like the loan company, but they may not. Ultimately they will have to accept that you cannot pay - in which case it's still either a payment plan or sell it on to a debt management company.

There's still consequences - you can't avoid them. Least of all by ignoring the situation.

Sorry to be blunt - but your original post suggested that that was the only course of action open to you.

DC34

Yeah i know sorry.

I spoke to them a few days ago (the bank) and they wouldn't listen to me.

Feels like i'm banging my head against the wall.

I wish they would just default it rather than keep adding interest and charges you know

DC