Wonga not paying up

iaintw

How much loan do you have made application from you to them
did you enter the current account
savings accounts will take long if you take a loan
its not your bank its wonga is having some major issues at this time

Willow_K

LeicesterRed wrote: »

It is a fee paying one, but a small percentage of what we pay per month.

I know this isn't helping your immediate situation, but you should really look to swapping to one of the free debt management companies - CCCS or Payplan. No matter what your current debt management company says (and they will most likely say all sorts to try and get you to stay if you want to leave) the free companies can do everything the paid ones do. They can often do more as they do not have the incentive of a fee to keep you on the plan.

The fee you are paying may only be a small percentage of what you are paying per month, but if that small amount could be going towards your debts to pay them down quicker or could be going into an emergency fund so that you do not have to borrow from Payday loan companies in the future.

If you haven't already it's worth spending some time on the Debt Free Wannabe board and maybe posting an SOA. Loads of advice and moral support.

Good Luck

KiKi

^^^ THIS.

OP, move to a non-fee paying one. It doesn't matter how small a percentage it is, you are paying hundreds - possibly thousands - more that you don't need to.

PLEASE call CCCS or Payplan to move to them.

And as suggested, PLEASE post on the DFW board; the people there will have some great tips and may well be able to help you reduce your outgoings even more and help you out of the Wonga trap. It may mean some faff with paperwork, but that's got to be worth it, surely?

KiKi

Wutang_2

KiKi wrote: »

^^^ THIS.

OP, move to a non-fee paying one. It doesn't matter how small a percentage it is, you are paying hundreds - possibly thousands - more that you don't need to.

PLEASE call CCCS or Payplan to move to them.

And as suggested, PLEASE post on the DFW board; the people there will have some great tips and may well be able to help you reduce your outgoings even more and help you out of the Wonga trap. It may mean some faff with paperwork, but that's got to be worth it, surely?

KiKi

I get the apostrophe thing but what is the Wonga trap??

MoneyMagic01273

Wutang wrote: »

I get the apostrophe thing but what is the Wonga trap??

the cycle of having to take one payday loan out to pay another - or having to take PDLs out every month.

MoneyMagic01273

I agree the OP should get over to the Debt Free Wannabe board.

I completely sympathise with your situation - however if you have a DMP in place and your are still experiencing these kinds of financial issues (even if in your head you think they are just temporary) then something is not working right.

It called a Debt Management Plan for a reason. If you have one in place and you are still not managing your debt you need to seek advice. And there is no way someone with finances this tight should be using a fee paying debt service. I suggest you move to a free one and try to review your debt payments and statement of affairs to see if you have the balance correct or even if a DMP is the right course of action for your situation.

Many people slightly overestimate certain areas of the SoA the pull together for the DMP in order to be able to cope with any unexpected life events (and I know from experience that being a renter often means you have to move around a lot). But you cannot live your life hoping that nothing out of the ordinary will ever arise because it will - and probably with alarming regularity. Whether thats moving house, car needing fixing..whatever.

I realise the point of your thread was not to get a lecture (which this isn't) and I hope you manage to get it all sorted out.

LeicesterRed

Willow_K wrote: »

I know this isn't helping your immediate situation, but you should really look to swapping to one of the free debt management companies - CCCS or Payplan. No matter what your current debt management company says (and they will most likely say all sorts to try and get you to stay if you want to leave) the free companies can do everything the paid ones do. They can often do more as they do not have the incentive of a fee to keep you on the plan.

The fee you are paying may only be a small percentage of what you are paying per month, but if that small amount could be going towards your debts to pay them down quicker or could be going into an emergency fund so that you do not have to borrow from Payday loan companies in the future.

If you haven't already it's worth spending some time on the Debt Free Wannabe board and maybe posting an SOA. Loads of advice and moral support.

Good Luck

KiKi wrote: »

^^^ THIS.

OP, move to a non-fee paying one. It doesn't matter how small a percentage it is, you are paying hundreds - possibly thousands - more that you don't need to.

PLEASE call CCCS or Payplan to move to them.

And as suggested, PLEASE post on the DFW board; the people there will have some great tips and may well be able to help you reduce your outgoings even more and help you out of the Wonga trap. It may mean some faff with paperwork, but that's got to be worth it, surely?

KiKi

I did try PayPlan many years ago, unfortunately I got court papers through from Barclays, which PayPlan told me to send to them to deal with which I did - next thing I knew I had a CCJ so it appeared nothing was actually done with the papers. So I quit PayPlan and tried going it alone, many creditors did accept my offers of repayment, others refused unless I went to a DMP, and even those that had accepted continued sending me threatening letters all the time, so I ended up going back down the DMP route.

I will head over to the other boards when I get the chance in the next couple of days once I've got a load of stuff sorted out. However, with regards to the wonga trap, I do know for certain that I'll be out of the wonga trap soon, if not next month then the month after - the company I've done the website for I've been working with for several years and they are very good at paying. That will more than cover the loan from Wonga (I'm owed over double what I owe to them) and put me back to the way I was before, when I was managing fine.

Annoyingly the website work I do in my spare time is to try and get the money to pay off the debts quicker - I want to clear some of the annoying small debts so I've got less creditors, which will also mean I can pay more to the remaining ones. However every time it gets close to me being paid something happens - my car goes wrong, we are forced to move house, etc, so I never seem see anything from all the hard work I'm putting in (working over 12 hours per day) (though obviously I would be in a much bigger mess without it).

LeicesterRed

MoneyMagic01273 wrote: »

I agree the OP should get over to the Debt Free Wannabe board.

I completely sympathise with your situation - however if you have a DMP in place and your are still experiencing these kinds of financial issues (even if in your head you think they are just temporary) then something is not working right.

It called a Debt Management Plan for a reason. If you have one in place and you are still not managing your debt you need to seek advice. And there is no way someone with finances this tight should be using a fee paying debt service. I suggest you move to a free one and try to review your debt payments and statement of affairs to see if you have the balance correct or even if a DMP is the right course of action for your situation.

Many people slightly overestimate certain areas of the SoA the pull together for the DMP in order to be able to cope with any unexpected life events (and I know from experience that being a renter often means you have to move around a lot). But you cannot live your life hoping that nothing out of the ordinary will ever arise because it will - and probably with alarming regularity. Whether thats moving house, car needing fixing..whatever.

I realise the point of your thread was not to get a lecture (which this isn't) and I hope you manage to get it all sorted out.

As mentioned above, I was managing it fine, we were getting through the month, paying all the bills etc, and the DMP was paid in full every month (as it still is now).

Unfortunately however the DMP's take your disposable income, so we can't save up for emergencies such as the house moves - so when something like that happens and you suddenly have to find well over £1000 to move (for van hire, petrol for driving back and forwards whilst moving, deposits, 2 months advanced rent, etc.) there is no option other than to get credit from somewhere. This happened to us twice in 6-7 months - fortunately the first time my parents managed to lend us the money, however the second time they couldn't afford to lend us so much so I had no option but to get credit from somewhere. I would struggle to get a normal loan, and that would be a more long term solution which I didn't want - I just wanted a quick loan to get me through a month or two. Same with a credit card. I honestly thought I would get the website I'd been working on finished soon after which would pay off the wonga loan, but with the house move, family illnesses, overtime at work, etc. it was delayed a lot and has only been finished within the last couple of weeks. As mentioned previously, the amount I will get paid for this is over double what I owe to wonga, it will pay both them and a lot of what I owe my parents, which means we will be right back on track.

Until the next emergency of course. I need to come up with a plan for the possibility that we might have to move again (which I'm not expecting, but we didn't expect it before). One plan is that the next website I do and get paid for, put the money away for emergency purposes. The problem there of course is that the DMP's don't allow you to have savings, they'd want the money as far as I know to pay to the creditors.

Someone recommended joining a credit union so I might look at doing that, but not sure if that's allowed under the DMP's either?

[Deleted User]

Good point about the Credit Union which I've joined and finding useful, but just want to be clear I don't pay anyone to manage my debts! hell no I'd rather set myself alight then pay over the odds for any help! usually somewhat misguided in my honest opinion

No third party confusion for me! I remember when I looked into Payplan (who make no charge) there indeed was a sticking point that in the event of court action they wouldn't get involved

Manage your own debts and be accountable to no one (except creditors...) thats my moto!
There's nothing you can't find out or do on your own and then there are enough good and knowledgable folk sitting on these very forums

rdchick

I don't know about fee paying DMP's but I know that CCCS allow you to take 'payment holidays' where you can just pay your creditors a token amount (like a quid each) for a couple of months so if you find yourself in difficulty you don't resort to payday loans etc, definitely worth looking into xxx