Wonga.Com - unlawfully charging for statements

asbokid

There are a several reports of Wonga.Com demanding that borrowers pay £10 for a Statement of Account.

It is unlawful under the Consumer Credit Act 1974 to charge for this Statement:

See: http://www.legislation.gov.uk/ukpga/1974/39/section/77B

This should be dealt with by HM Courts.

From the 1974 Act:

Fixed-sum credit agreement: statement of account to be provided on request

(1)This section applies to a regulated consumer credit agreement—

(a)which is for fixed-sum credit,
(b)which is of fixed duration,
(c)where the credit is repayable in instalments by the debtor, and
(d)which is not an excluded agreement.

(2)Upon a request from the debtor, the creditor must as soon as reasonably practicable give to the debtor a statement in writing which complies with subsections (3) to (5).

(3)The statement must include a table showing the details of each instalment owing under the agreement as at the date of the request.

(4)Details to be provided under subsection (3) must include—

(a)the date on which the instalment is due,
(b)the amount of the instalment,
(c)any conditions relating to payment of the instalment, and
(d)a breakdown of the instalment showing how much of it is made up of capital repayment, interest payment and other charges.

(5)Where the rate of interest is variable or the charges under the agreement may be varied, the statement must also indicate clearly and concisely that the information in the table is valid only until the rate of interest or charges are varied.

(6)The debtor may make a request under subsection (2) at any time that the agreement is in force unless a previous request has been made less than a month before and has been complied with.

(7)The debtor shall have no liability to pay any sum in connection with the preparation or the giving of a statement under this section.

(8)A breach of the duty imposed by this section is actionable as a breach of statutory duty.

(9)For the purposes of this section, an agreement is an excluded agreement if it is—

(a)an agreement secured on land,
(b)an agreement under which a person takes an article in pawn,
(c)an agreement under which the creditor provides the debtor with credit which exceeds £60,260, or
(d)an agreement entered into by the debtor wholly or predominantly for the purpose of a business carried on, or intended to be carried on, by him.

(10)Subsections (2) to (5) of section 16B (declaration by the debtor as to the purposes of the agreement) apply for the purposes of subsection (9)(d).]

Wutang_2

Cheers Asbo, cracking update.

dealer_wins

Thank god for this vital information. Thanks for making my life just a little bit better today asiekid.

Apples2

1,409 thanks to his name? It's a sad world at times.

antrobus

asbokid wrote: »

There are a several reports of Wonga.Com demanding that borrowers pay £10 for a Statement of Account.

It is unlawful under the Consumer Credit Act 1974 to charge for this Statement:

See: http://www.legislation.gov.uk/ukpga/1974/39/section/77B

.....

See that 'F1' in the top left hand corner?

Scroll to the bottom of the page to see what that annotation means;

Amendments (Textual) F1 S.77B inserted (1.2.2011) by The Consumer Credit (EU Directive) Regulations 2010 (S.I. 2010/1010), regs. 26, 99(1) (with regs. 100, 101)

Note the reference to "inserted" and the date "1.2.2011". Today is 4.2.2011.

Paul_the_Painter

04.02.2012 today, so that makes it a year old

antrobus

Paul_the_Painter wrote: »

04.02.2012 today, so that makes it a year old

So it is. Am I going crazy in my old age? Very likely.

meer53

antrobus wrote: »

So it is. Am I going crazy in my old age? Very likely.

Reading Asbokids posts will drive most people crazy. :rotfl:

asbokid

Apologies accepted. Now please offer a meaningful contribution.

Wonga has been unlawfully charging £10 for a Statement of Account.

That is unlawful under S.77B(8) of the Consumer Credit Act 1974

"77B(8) A breach of the duty imposed by this section
is actionable as a breach of statutory duty."

http://www.legislation.gov.uk/ukpga/1974/39/section/77B

opinions4u

asbokid wrote: »

Apologies accepted. Now please offer a meaningful contribution.

Wonga has been unlawfully charging £10 for a Statement of Account.

That is unlawful under S.77B(8) of the Consumer Credit Act 1974

"77B(8) A breach of the duty imposed by this section
is actionable as a breach of statutory duty."

http://www.legislation.gov.uk/ukpga/1974/39/section/77B

I don't care.

Why don't you complain to them or something?

vax2002

Most people dont pay them back and there is only so many times you can re-sell a non paying debt before it becomes valueless.
They wont last.