What happens if you dont pay wonga back?

MusicalLawyer

Carnagex wrote: »

Suprisingly it is easy they wont chase the debt

because of the high APR rate of Payday Loans they will not post to the credit bureau so it will not affect your credit rating and because of how much interest you will inccur debt collection agencies or bailiffs will not take the debt on because there is no profit in it for them all you will get is 6 months worth of letters and phone calls then peace

I wouldn't be too sure about that.

I had a loan from Wonga and couldn't pay it back on the due date, as the person who I lent money to never paid it back when they said (long story involving my ex).

Wonga kept harassing me, and issued a default on my credit file. They then passed it on to a debt collection agency.

Edit: My loan was due to be £300 (that was including all interest etc) they added more interest to put it up to something just over £460. So I'm sure there more likely to come after a higher balance than a lower one.

blackmaff

Let's be honest, you are 'your friend' aren't you?

[Deleted User]

Wonga's Earl and Betty will disappear, get prepared your friend will be playing awful mind games with some underworld DCA - no, in some instances it really is worse then the 'we'll be round to kneecap you'

After they have had a go at clearing your account to satisfy the 'growing debt'

Seriously hope your friend can imagine what will happen if he/she doesn't pay or in choosing a formal solution, (eg. DRO or bancrupcy) I often wonder now if debts are only grown to make up for what the PDL companies must lose in this type of situation

Sorry if I sound bitter but there we go - it is what really happens x

cottonhead

The debts will just get bigger and bigger as they will add on a fee each time they can't colllect the money. The interest will get added too and sooner or later the amount owed will be huge.
You can't just not pay them back and it will show on file for 6 years.
Best to phone them and come up with a repayment plan because they wont just write it off.

poppasmurf_bewdley

The two old ladies and the old geezer from their adverts will come a knockin on the door. If that doesn't work, Thug and Slug their two sons will come instead with a pair of pliers and a hammer. You don't mess with the Wonga Clan.

PS. let us know what happens to you.

stokelady

I had a loan from Wonga and kept rolling it over and couldnt pay it back, Changed my Bank Account, then I had a knock on the door from a DCA.

I set up a payment arrangement with them which I subsequently broke and after several months of letters from them, it them ended up back with Wonga.

Now I am on a DMP with C.A.P and they are due to contact them soon to negotiate repayments, however I have to admit they have been very quiet of late.

I guess what I am saying is that your freind will have to pay back the debt but It can take some time!