Cant repay Wonga loan

RichGold

fozmcfc wrote: »

It's like when you set up a reoccuring subscription/payment on a credit card.

The company is obliged to make payments even on cards that have been closed down in some cases for years.

At the point of dealing with Wonga, you agree that payment is taken and if you like the transcation/payment back to them is in place for a set date. In most cases the bank will say, you agreed to the payment on this date, before the card was lost/stolen so we are paying it.

There have been a few reports of some banks, however refusing to pay Wonga after someone has reported a card lost/stolen.

Off topic but slightly relevant... My broadband was paid for like this for years, and for long after my card had expired and been superseded by a new one. It wasn't until I changed my ISP and realised that I'd overpayed and required a refund that I was worried. How could they refund a card that had been canceled? But the money found its was back to my account, despite them refunding it on a card that had been "dead" for 18 months.