A little help please!!! (wonga!)

Vaj7

Hi, this is my first post on here. I've been reading the forum for a while and have now plucked the courage to ask for some advice. and I am kinda scared.

I have been using Wonga on and off for about a year. But when I was getting desperate I took a loan for £1000. Unfortunately I couldnt make the payment. and now im scared of contacting them to make a plan and I dont know what to do. does anybody know what will happen if it defaults? will they accept £50 p/m. will they send debt collectors to my home?

i appreciate any advice on this matter.

thanks

[Deleted User]

Contact them ASAP to discuss some kind of a payment plan. All the time you hide from them, charges will be racking up and it'll cost you more in the long run.

opinions4u

1. Open a new basic bank account somewhere else. Do not give Wonga the details.
2. Get your wages paid in to it.
3. Talk to Wonga - if you don't they will shaft you (they might anyway, but you need to give yourself a chance).
4. Sell stuff on eBay etc and use all the proceeds to pay of the debt.
5. Never use PDLs again. Budget better and spend less.

KailynLaw

You need to contact who you took the loan from as soon as you can. Tell them you intend to repay the whole loan and ask for forgiveness for being late. Explain how you came on hard times and request that the terms of repayment for the loan be modified so that you can pay them and they can get there money back. You can expect to pay more in interest fees but most of the time they will work with you. After all, they want there money back.

I hope this is helpful. Please let us know how it turns out.
KailynLaw

JamesWMH

You say you've been using them for about a year? Surely you paid them more than £50 each time???

I know it can be scarey, but they seem to be quite helpful with setting up payment plans. I'm going to try to set one up with them in January for my £600 loan with them.

Good luck

Vaj7

Wow I'm overwhelmed with the response! It feels so much better to tell someone. From another post I read on here I have already changed my bank and my wages are paid into that.

I thought I was in control, i would use wonga and then not use it for a couple of months and so on. I thought I could handle it.

Thanks guys, I did feel scared even for posting on here, but you have given me a boost. I will keep you informed on how I get on.

opinions4u

Vaj7 wrote: »

Wow I'm overwhelmed with the response! It feels so much better to tell someone. From another post I read on here I have already changed my bank and my wages are paid into that.

I thought I was in control, i would use wonga and then not use it for a couple of months and so on. I thought I could handle it.

Thanks guys, I did feel scared even for posting on here, but you have given me a boost. I will keep you informed on how I get on.

The Debt-free Wannabe part of these forums will provide you with loads of support and help.

Once you've shaken this problem off, a few minor changes and you'll be fine. But you need to face in to it and get to that stage.

Best of luck.

Enfieldian

KailynLaw wrote: »

You need to contact who you took the loan from as soon as you can. Tell them you intend to repay the whole loan and ask for forgiveness for being late. Explain how you came on hard times and request that the terms of repayment for the loan be modified so that you can pay them and they can get there money back. You can expect to pay more in interest fees but most of the time they will work with you. After all, they want there money back.

I hope this is helpful. Please let us know how it turns out.
KailynLaw

How is this helpful advice in any way?

"Contact who you took the loan from" That would be Wonga

"Ask for forgiveness for being late" Forgiveness? What purpose will that serve? The OP wants to set up a payment plan.

"You can expect to pay more in interest fees" Actually, based on the previous experiences of real posters on this forum, Wonga are one of the few PayDay lenders that will freeze interest.

You have clearly not read anything that the OP has said in the first post and are just giving random, non specific advice in order to increase your post count.

ihateyes

opening a new account is paramount.
You dont need to talk to them. email them immediately... [EMAIL="collections@wonga.com"]collections@wonga.com[/EMAIL] advising them of a change in circumstances.... asking for interest to be frozen, and a payment plan over 6/12mths.
ask for bank details so YOU can pay them each month.

Under no circumstances give them new card details.

Apples2

I hope your new account is with a completely different bank

KingElvis

Apples2 wrote: »

I hope your new account is with a completely different bank

And what ever you do, don't apply for another one with the new account, yes people really have been that stupid in the past.

Good luck.