Can anybody advise me please? Wonga Loan "late payment"

chalkie99

nomoneytoday wrote: »

Why not borrow £200 from a non payday lender, then pay back the £800 in full ?

Because, I imagine, if they could have raised money that way they would not have gone to a "lender of last resort" payday company in the first place.

united66

As someone posted earlier, the 600 pound is a very honourable offer, but these sub prime/payday lenders don't care about offers. Whilst ever you are in arrears with them, they will happily keep adding interest to the tune of about 2500% in a bid to get more money out of you. Unfortunately - I doubt they are going to settle for £600 when you owe them £800 and if some arrangement isn't in place, it will be even bigger next month, so you need to get something sorted fast or you're going to get stung.

I would suggest as a previous poster stated - accepting the payment plan which will stop interest and if you do come into any cash pay it up early. If not - at least you are paying it and not getting astronomical interest on top.

Good luck

amazingly

It is difficult to ask for advice anywhere without there being a moral approach as a response, so it is good to see some good responses here.

This site is clearly of relevance to those who struggle with financial issues, or seek ways in which to contribute/ask for useful assistance when we are in a financial crisis for instance.

I suffer with mental health issues and have a support worker. In the past I have always managed by finances quite adaptivity, yet in the past year have come unstuck (mostly due to my mental health condition) and not through sheer moral or financial negligence.

My sympathies go out to anyone who gets into the cycle of loans: In a financial crisis, I took out a wonga loan and am only one day late in arrears with them (due to pay the entire outstanding amount today). They have already taken money from my registered cards - £130 since yesterday when I was due to repay loan.

There had been an unexpected technical issue with my pay - This is why I could not pay it back yesterday.

I am not sure how much they are going to take today to pay the total off, yet my loan was £216 altogether. I am only aware of the £20 fee for each day they presumably take the money from your account, but if my loan is repaid with just one day in arrears, does anyone know what Wonga will charge?

Purposeful and useful advice would be very much appreciated.

mourning33

Thought i'd put my views in being in a similar situation before with Wonga.

If your in a position they offer you a payment plan then take it, For when they put this in place your interest is then frozen and you can see how much you will be paying each month which makes things easier to manage.

Considering they are a PDL company, If you be polite and explain the situation they will help.. At the end of the day they already know they've made money on you.. even if it does mean it they get it over 6 months. I was on a plan with them for £900 quid for 6 months this year and is now all paid off and PDL free" (it feels good!)

The most important thing is if you miss a payment on your payment plan then you will be charged all of the interest during that period. (Missing the last payment of a 6 month payment plan = 6 months of interest on top of your total owed) so make sure you keep up repayments and inform them of if your card details change.

Hope that helps!

mourning33

amazingly wrote: »

It is difficult to ask for advice anywhere without there being a moral approach as a response, so it is good to see some good responses here.

This site is clearly of relevance to those who struggle with financial issues, or seek ways in which to contribute/ask for useful assistance when we are in a financial crisis for instance.

I suffer with mental health issues and have a support worker. In the past I have always managed by finances quite adaptivity, yet in the past year have come unstuck (mostly due to my mental health condition) and not through sheer moral or financial negligence.

My sympathies go out to anyone who gets into the cycle of loans: In a financial crisis, I took out a wonga loan and am only one day late in arrears with them (due to pay the entire outstanding amount today). They have already taken money from my registered cards - £130 since yesterday when I was due to repay loan.

There had been an unexpected technical issue with my pay - This is why I could not pay it back yesterday.

I am not sure how much they are going to take today to pay the total off, yet my loan was £216 altogether. I am only aware of the £20 fee for each day they presumably take the money from your account, but if my loan is repaid with just one day in arrears, does anyone know what Wonga will charge?

Purposeful and useful advice would be very much appreciated.

Again from being in a similar situation.. You'd be looking @ the £20 non-repayment fee and one days interest..Well that was what it was earlier in the year.

AndrewNorthWales

Ive been using wonga all year to keep straight but I always pay them back on time or before so I feel sorry for you.
If you can afford £600 now can you trade a load of stuff in at CEX or similar just to get you up to £200 and pay Wonga off?
It doesnt take a lot, I got rid of a whole pile of DVDs and CDs etc old PS3 games I dont play and I got about £130 for them, chuck in some old tech you dont use like a video camera lying around or something and you should hit target.
I just paid Wonga £291 a few minutes ago and I think - god willing that should be my last Wonga loan as I also just paid off my bank loan so thats £140 a month extra not crippling me.

Once your straight then avoid Wonga etc and make do, Im going to try to do that too - my only concern is xmas other than that it should be plain sailing now.
I bet if you have a root you will find all kinds of junk for the pawn shops to take.

Peelerfart

May I just point out to all that this thread started back in June.

Thanks

PF

spinny21

cduuffo13 wrote: »

Took £265 loan out and then after a month + £135 = £400 without interest,, I lost my job and was away for about 2 months . I thought the loan would now be about £600 which is the absolute most I can afford,

I phoned them up and they said its £800 ., I explained my financial situation offered them £600 to take, they tried to get me to go on a payment plan but I cant because I have no income ,

What should I do ? Ive just told them that I cant make £800 payment today, and he said nothing they can do, the loan is still incuring chargers as we speak..

not sure what to do

Hi dont worry awhile ago I just ignored them all the time and then after months they said they will settle for what i borrowed off them in the first place (DONT LEAVE MONEY IN THE BANK THEY TAKE THE LOT)

[Deleted User]

What is this? The out of date club? Did no one read PF's post?

This thread is a dead duck. Over. Finished. Move on.

Enfieldian

True.

But it does make me wonder if the OP has paid them back yet.....