wonga

LovelyLeeds

far2cute wrote: »

I am currently setting up a payment plan with wonga, but I have heard that they can just take out the full amount from your bank account if you default.

Wonga et al are 10 steps ahead of PDL defaulters.
You say you are currently setting up a payment plan, that means it's not set up yet, and even if it was set up, they will almost certainly still take what is their's.
You might be lucky, but setting up a new account with the same bank (or their affiliates) will still allow Wonga to legally get their money back.
It is not a loophole.

MoneySaverLog

Wonga et al are evil, you only have to look at the puppets to see they are targetting the most vulnerable of society. Stay well clear of them, I'm getting rather annoyed at their ads on TV / Radio now.

Emmzi

pawnbroker, beg form friends, sell the car, whatever it takes.

far2cute

MoneySaverLog wrote: »

Wonga et al are evil, you only have to look at the puppets to see they are targetting the most vulnerable of society. Stay well clear of them, I'm getting rather annoyed at their ads on TV / Radio now.

just i cant afford for them to take out my whole maternity allowance tomorrow, they havnt said they will try to get it tomorrow but im assuming it works on a continuous basis even though the account isnt linked to old account

skintandscared_2

Even if the new account is with the same bank, how can Wonga get the money when they have the wrong account number and the accounts aren't linked?

Derivative

Emmzi wrote: »

pawnbroker, beg form friends, sell the car, whatever it takes.

Just do it. Please.
I have no problem with pay day loan companies, but people need to realise that priorities should go like this:

Ask family.
Sell off all assets.
Pay day loan.
Homelessness.

It really is a severe decision to be making and should be an absolute last resort. Especially for the sum of £200, it's just not worth it.

maginot

Rather than spend a lot of time trying to avoid paying the money, it will be easier to just try and pay it off. Do you want to constantly be wondering whether they will take their money this month, along with extra charges being added?

Can you not borrow money off anyone or sell some assets?
Defaulting will damage your credit history and reduce chances of credit that you may need in a few years time.

Apples2

skintandscared wrote: »

Even if the new account is with the same bank, how can Wonga get the money when they have the wrong account number and the accounts aren't linked?

The accounts will be linked as it is the same bank and the same person owning both accounts.

This is called Offsetting and is very common.

Wonga are one of the better ones in the bad bunch, they do occasionally honour their side of the repayment plan, despite the borrower going back on the promise they made before spending Wonga's money.

It is a high risk strategy though, ALL PDL's are well known to swoop in and claim what is rightfully theirs.

Not repaying (and not having an agreement to freeze interest) just makes the debt rocket in extra charges so don't go thinking you are "getting one over on them" if you manage to dodge the repayment and feel all triumphant.

Treat this as a priority debt and get shot ASAP. And for goodness sake WHY are you applying for loans when you only have maternity pay coming in?
How were you EVER going to manage to repay this when you were applying??

BoGoF

Ironic thread considering the the other threads putting all the blame on the PDL's 'causing misery' when we have a blatant attempt at trying to get out of paying .

https://forums.moneysavingexpert.com/discussion/3700965

far2cute

Deleted%20User wrote: »

Co-op Bank - will assist in pay out whether you have new account or change of card

Don't report any card as stolen or 'account raids' by PDL's to police - you could end up in more bother and isn't the way to deal with this

You can open a new account online today - Halifax 'Easycash' or Barclays 'cashcard'

Your doing the right thing in approaching Wonga now - it will be ok, if your open and honest most are generally fair back x

do you get a decision straight away with the halifax or barclays if you do it online?