Wonga, Quickquid & Lending Stream = Help

XXSCOTSLASSXX

Lucero wrote: »

Yes, it does. It EXPLICITLY happened to me when I reported a card lost / stolen. Not just wonga, but Credit Expert. BOTH were unable to take their recurring payment because the card numer was no longer valid.

I guess though, I'll listen to a bunch of mums on MSE and 5 years HSBC asset management banking will just have to count for nothing.

Yet a few posts ago you state they take the funds using sort code and account number.... your "5 years HSBC asset management banking" does count for nothing mate sorry

You were lucky re them not being able to take the funds, may have been the bank you are with or some other reason... it has been said many times SOME may be ok but many many others arent tho, stated in Guardian and Telegraph articles too, as I said before google it in fact call your bank they will also educate you on the problems with recurring payments!!

surely its far better to err on the side of caution and advise cancel and close account... people come on here for help...... your argument is giving inaccurate incomplete advice and may cause people further hardship!! you feel you are correct then fine you practice what you preach just dont preach to others who are looking for help.

AHAR

XXSCOTSLASSXX wrote: »

surely its far better to air on the side of caution

You appear to have erred.

XXSCOTSLASSXX

AHAR wrote: »

You appear to have erred.

lol many thanks have corrected ..... I am afterall only a mum on MSE i know nothing......

meer53

XXSCOTSLASSXX wrote: »

lol many thanks have corrected ..... I am afterall only a mum on MSE i know nothing......

I'm a Mum too. Maybe i'm thick ?

Maybe 18 years in the Fraud/Disputes department of a bank counts for nothing either ?

Can't do with people who start with the insults when someone questions them. It's ok to give examples of your experience but it's also really important to remember that you might not always be right.

meer53

Lucero wrote: »

Yes, it does. It EXPLICITLY happened to me when I reported a card lost / stolen. Not just wonga, but Credit Expert. BOTH were unable to take their recurring payment because the card numer was no longer valid.

I guess though, I'll listen to a bunch of mums on MSE and 5 years HSBC asset management banking will just have to count for nothing.

Just because it happened to you doesn't mean that it will be the same for everyone. We don't all bank with the same banks for a start. Please read ALL the posts about recurring payments before trying to tell people that THEY are wrong and YOU are right.

DD1966

ampafc wrote: »

Every thread that I have read about payday loans...you seem to post sarcastic and unhelpful comments in. Why do you feel the need to do this? Look at what you have written above, and please describe how you think your comments would be of any use to anyone.

Here here! :beer:

RRRRodgA

Lucero wrote: »

Yes, it does. It EXPLICITLY happened to me when I reported a card lost / stolen. Not just wonga, but Credit Expert. BOTH were unable to take their recurring payment because the card numer was no longer valid.

I guess though, I'll listen to a bunch of mums on MSE and 5 years HSBC asset management banking will just have to count for nothing.

Sorry but insulting everyone here isn't going win you any battles.

When you take out a 'subscription' with a company via debit card and in this case an agreement with a Pay Day Loan Company you enter into a contract.

If a card is cancelled then the company can still apply for payments and can even claim this through Visa due to the fact that they hold an agreement with this customer.

It happens on a daily basis in my work, customers can't believe how payments are being taken despite their card being cancelled the week before, and no they haven't defaulted to Sort Codes and Account Numbers in this case as that would be needed for Direct Debits.

These payments will continue until a settlement on the original agreement is achieved and the only thing cancelling the card will do is slightly delay the payment being take but again it will be as they can easily claim the payment as it is well within their rights.

See it so often and really the best thing the OP can do in this case is be honest and speak to the companies in regards to his situation.

xgingerx

Just close your bank account, this is the simplist options, you can get a basic account most banks now, And then sort a repayment plan out with them but dont give your new bank details ask for theirs and pay by standing order.

Apples2

I guess it would be a good idea to get a second opinion following advice from an HSBC Asset Manager.

bbfc

I was in the same position as the OP, I owed Wonga (£940) and QuickQuid (£300). Thankfully a friend loaned me the money to pay off the Wonga (paid it off early to save about £80 in interest). I have a good job and earn a good wage but last year I had a few 'expensive' months - basically I just spent WAY too much and now i'm paying the consequences!

Payday loans seemed the most easiest option but you eventually get into a vicious circle of having to take out another one every month to help you get through the month. Next month the QQ loan will be paid off and then i will start paying my friend back, but with the weight of these lifted off my shoulders I can start to get back to normal as my social life has pretty much died since all this started, as I simply couldn't afford to do anything.

Hope the OP gets things sorted. The feeling you get when you get out of this mess really is worth it.