Do any of the free debt management charities deal with Wonga?

JamesWMH

Hi,

I've got a massive loan with Wonga, I currently owe £722, my initial loan was for £680 and I've paid off £348 so far (but still owe £722, after extending for a month).

This interest is killing me and I was wondering whether any debt management company deals with Wonga? And even more importantly do they come to an agreement with Wonga, or do Wonga simply sell off the debt?

I think having a DMP set up would help me loads, but I don't want to risk Wonga demanding full payment, or selling the debt on, or taking me to court etc.

Any advice or past experience would be extremely helpful.

Thanks,

Tixy

Hi James

Lots of people have wonga and other payday loan companies in their charity run DMPs.
The debt charities will be able to help if you qualify for a DMP with them.

Interesting (and surprisingly I think) a lot of people report that payday loan companies are often the first creditors to accept their DMPs and freeze interest. I'm not going to suggest its the case for everyone but having payday loans shouldn't be a reason not to go for a DMP if its the best option for you.

Give CCCS or one of the other charities a ring to talk it through with them.

skp10

We ha e recently had dealings with wonga and I must say out of the five PD LOAN companies we had to deal with they were by far the easiest we contacted them before the payment date and sent to them income and outgoings with an offer of payment they rounded it up to the nearest pound and agreed to it. I would definately say to set up a standing order to pay it back just in case they try to clear you out.