wonga payment due friday cant pay it

inamess_man

hi all appreciate any help in advance

i have a dmp setup myself which has been affected already this month after 12 months of paying to time which has annoyed me but this is more serious

my brother owes somebody you dont want to owe money to a fair sum of money my dad has stopped helping him (because he cant anymore) and i probably stupidly stepped in and borrowed £400 from wonga a few weeks back, i now have a payment coming of my card on friday for £600 i just dont have

i can afford to pay them £300 now and the rest next month so far they havent budged whatsoever

any advice appreicated

michael1983l

Call them, explain that you cannot afford to pay the whole amount but explain that you will pay whatever you can afford to show that you are willing to come to an arrangement. Also set out with them a plan of how you will pay the remaining balance. If they refuse to help after offering this ask them to put this in writing and remind them of their responsibility under the consumer credit act, that they must not force you into a payment plan that you cannot afford. Say that you are being reasonable and giving them advanced notice that you cannot pay the full payment on the agreed date and that you fully intend to pay the full balance of the debt when you can afford to do so.

Tixy

Only thing you can do in this situation really is clear the account out of any cash in there and set up a new bank account (with another bank unconnected to your DMP creditors or this account). Then get future wages etc paid into new account.

They won't negotiate on payment until you've made it impossible for them to take money from your bank account (either using the card details or just direct from the bank).

Once you've done that I guess you'll have to add them to your DMP. Or negotiate to pay the 2 payments you mention.

Word of warning 1 - if your existing creditors see that you've been taking on new credit they may stop agreeing to your DMP, may start to charge interest again etc.

Word of warning 2 - if you had any payday loans in your debts, in your DMP. A lot of payday loan companies operate under several names / sister companies etc, and so if you did have any pdls then possibly they may also try raiding current bank account for funds.

alox123

Wonga allow you to extend loans. Its not ideal as it cost MORE money but you can pay off half now half next month without setting up a payment plan or trying to avoid the payment. A payment plan might be better as they can sometimes hold off the interest but this route is still a gamble. People that have had payment plans or tried to cancel card or avoid payment have had further problems. Extending it is the safest, but maybe expensive route.

xmum2threex

As above you can extend the loan for 1 month and just pay the interest accured it will be epensive and you can only do it 1 month so id pay as much possible as fast as you can x

CHR15

There are reports on here of Payplan throwing the whole DMP out and refusing to deal with it once they found out further credit had been obtained.

Whilst taking on more credit was a daft thing to do, at least your Brother still has his kneecaps. Is he helping you to get out of this mess?

Tixy

If similar happens in future and you feel you need to help him out - contact your creditors in your DMP, explain that you have had an unexpected cost crop up and that you can only afford token payments this month thereby freeing up the rest of your monthly payment to creditors (not ideal again but its something that 3rd party providers will do in certain situations). And better than payday loans.

marleyboy

Wonga will be more than happy to extend your payment increments, as they can add a huge bill on the end of it with interest. Have you tried asking your bank for an overdraft, it will work out a lot cheaper for you if you can pay off Wonga as per your agreement.

michael1983l

marleyboy wrote: »

Wonga will be more than happy to extend your payment increments, as they can add a huge bill on the end of it with interest. Have you tried asking your bank for an overdraft, it will work out a lot cheaper for you if you can pay off Wonga as per your agreement.

Thats a good idea but in reality most people end up with PDL companies because they are desperate and cannot attain credit through conventional means. The very fact they have said they are in a DMP indicates this.

alox123

PDL can be managed legitimately if your work at it and are prepared to got short for a few month and pay WAY over the odds for borrowing. If you extend the loan and pay off what you can, save as much money as possible during the month and pay the rest off next month. If thats too short a time frame, Wonga allow 3 month of extensions. It will be costly but you will stay in the clear. Ideally you would pay all of when due (or earlier) and as an absolute last resort you would cancel your card and open a new bank account ie avoiding the payment all together (especially as you are on a DMP)

duchesspink1

what is your brother doing about this? it seems to me that he's let you over extend yourself to help him, he's off scot free while you're lying awake at night worrying.