Wonga.com

indebtindevon

Hi guys,

I stupidly borrowed £350 last week from Wonga loans and I cant pay it back, The loan is due from my account tommorow (£404.39)

What should I do? The next date I get any money is Next wed 6th July which is my JSA payment of a mere £135..

I want to avoid the debt snowballing and getting charged, Plus I have heard stories of them randomly taking money from the account as and when they please...

I read somthing about being able to stop any direct debits coming from my account by asking the bank to put a hold on my account because of desperate financial situations, How do I go about this??

Thanks for any info, This is urgent.. I will never borrow like this again!!

Luke

CHR15

You only borrowed it last week! how could such a change of circumstances occur where you could definitely repay it to not being able to in 7 days??

They will try to take it, most likely clearing your account.

You will drop into arrears tomorrow, then into default. You will incur many fees and charges.

You may be able to extend it if you call them NOW but it would mean paying some of it back to them in the short term.

Try to extend and start begging family to help you out.

KingElvis

Or sell any expensive electronic junk, CDs, DVDs and any other shizzle you have to pay this cash back.

You must've known you couldn't pay this back when you took it? What did you spend it on?

ExNicotineQueen

indebtindevon wrote: »

I read somthing about being able to stop any direct debits coming from my account by asking the bank to put a hold on my account because of desperate financial situations, How do I go about this??

It's not a direct debit you have set up with them, you gave them your card details/bank account details for repayment.

Can you borrow the money from your parents/siblings/close friends?

iolanthe07

Payday loans are not designed for people on benefits. The clue is in the word 'Payday'.

SnowTiger

iolanthe07 wrote: »

Payday loans are not designed for people on benefits.

Maybe not, however curiously the Employment status drop-down box on Wonga's application page contains entries for Unemployed and On Benefits. :rotfl:

RichGold

indebtindevon wrote: »

I stupidly borrowed £350 last week from Wonga loans and I cant pay it back, The next date I get any money is Next wed 6th July which is my JSA payment of a mere £135..

Your kidding surely? You borrowed £350, promised to pay back £405 when you knew you had absolutely no chance of repaying it????
The next money you're due to is a JSA payment of only £135 next week?!@#!??
You sir are bonkers. And you've trashed your credit rating for your silliness. People like you shouldn't borrow at all.

indebtindevon wrote:

I want to avoid the debt snowballing and getting charged, Plus I have heard stories of them randomly taking money from the account as and when they please...

You will be charged, and so should you be. Did you think the agreement you made when they lent you the money would somehow become null and void? And the stories you've heard about payday companies randomly taking money out of accounts are false. They only do that to people who owe them money and haven't paid it back, which is far from random.

fozmcfc

Best advice to you indebtindevon, is to just stop borrowing money.

By the looks of it, you really need to sort yourself out big time. Going back over your posts on the forums, it seems you have had debt for sometime now.

I would urge you to go over to the Debt Free Wanabee board, post up your full situation and get the support/advice from the people over there.

I think the Payday loan is just a part of the overall issue, you have a lot of debt and are without employment it seems.

It looks like you have tried once by your signature to sort yourself out, maybe when you first joined.

Really go the debt free wanabee board and start getting the help to get yourself started and stick with this site as there is a lot of support to those who really want it.

RichGold

fozmcfc wrote: »

It looks like you have tried once by your signature to sort yourself out, maybe when you first joined.

Anyone want to work this out?

350+60 days interest @ wongaAPR+late fees and failed collection fees= ?

indebtindevon

iolanthe07 wrote: »

Payday loans are not designed for people on benefits. The clue is in the word 'Payday'.

Wonga.com allows loan applications for people on benifits!

indebtindevon

I was expecting to have some money come through that never happened to pay back this loan, I knew that I wouldn't been able to pay it back otherwise.. I needed this money to pay someone in real life money I owed them..

Really bad situation, But sometimes in life its better to owe a bank or website money than some angry lender in real life.