the curse of pay day loans

OneLife_OneShot

jon1965 wrote: »

Hi
Can I just sound a note of warning. 99.9% of the information I have read about wonga goes totally against what the last poster said, I have only read 3 good comments like this , 2 were from one time posters on the same thread on my favourite website (not) Cag and then this one.
Every other one has siad different things such as , raided bank accounts, wouldn't set up a repayment plan until they had defaulted , added charges etc. Also I have not heard of anyone who has had to set up a repayment plan and then got another PDL with the same company.
I would urge extreme caution before accepting the word of the previous poster.
My personal dealings with them have been a nightmare.

I respect your input but I had a repayment plan last year with them and one again this month starting until September as I lost my temp job, I have always found them to be quite helpful but everyone has their own opinion on sites like this, I can upload a document showing my repayment plan if you wish.

jon1965

conisme wrote: »

I respect your input but I had a repayment plan last year with them and one again this month starting until September as I lost my temp job, I have always found them to be quite helpful but everyone has their own opinion on sites like this, I can upload a document showing my repayment plan if you wish.

Feel free, all I was saying is that in my experience you are the exception rather than the rule. My advice is given due to personal experience and the experience of others.Again I believe that PD lenders will not knowingly reloan to people once they have defaulted

Growurown

jon1965 wrote: »

Report your debit card stolen (not lost but stolen)
Write to both your bank and to wonga removing any authority from them to debit your account (look at your bank statement to see what name they use to debit your account)

Is this sure to work? I know it should work but a friend of mine still had money taken out of her account and as she was on benefits it left her nothing to live on for the next two weeks. I think I would rather play safe and change my bank account.

jon1965

Well the LAW says it should work. It has always worked for me and I banked with santander, mind you i reported my card stolen, prior to the due date. If in anyway it didn't work you should look at a police complaint for theft , formal complaint to the bank then Fos. I know that doesn't help if you have all your money taken

OneLife_OneShot

I never technically defaulted on my loans I rang up on the day it was due before they could hand out that £20 missed payment fee and let the interest start accruing, I have heard people I know as well who have had bad experiences like you said I might be the exception to the rule

southernbelle

I had a good (?) experience with Wonga also. They have been very understanding with me. I phoned them before my loan was due to say I wouldn't be able to pay it back. They stopped the interest and waited until my DMP was set up to take payment. From my experience they are one of the more responsible payday loan companies. I think if you phone and are polite you will be pleasantly surprised.

immoral_angeluk

You have a much better chance of agreeing a repayment plan with Wonga than you do the other payday lenders.
Give them a call, if you don't get anywhere, send them a formal offer in writing including your financial statement.
Whatever you do make sure the payment IS affordable though. £50 for someone unemployed is very high and could risk you defaulting, at which point they will become even less understanding or willing to negotiate.

OneLife_OneShot

I agree with the previous post, only pay what you can afford to, thankfully my dad is helping me out with £20 of it each month until I get it sorted out.

I have had four Wonga loans since my first repayment plan last year and up until this one now, I always paid them back before they were due and I think this shone through and that is why they didn't mind doing a repayment plan. I wouldn't recommended anyone taking out a PDL but I was in employment when I took mine out,unfortunately things happen that is just life.

But if you are looking to do a repayment plan its much easier to ring them, I tried the first time by e-mail and it got nowhere.

jon1965

immoral_angeluk wrote: »

You have a much better chance of agreeing a repayment plan with Wonga than you do the other payday lenders.
Give them a call, if you don't get anywhere, send them a formal offer in writing including your financial statement.
Whatever you do make sure the payment IS affordable though. £50 for someone unemployed is very high and could risk you defaulting, at which point they will become even less understanding or willing to negotiate.

Well it appears that your experiences have been far better than mine was and the people I have seen post. As I said , they were not the worst but by no means the best. The worst without a doubt was quick quid followed by Wonga. In many cases have been telling people to default first, however as i think I said , things may have changed and maybe it is because of the OFT investigation.
If you can get a repayment plan that you can afford, well done, but I would still advise you to pay by standing order and report your card stolen.
I would be very interested to find out how it works out for you not just in the setting up but also over the course of the plan.

nottoolate

jon1965 wrote: »

I would be very interested to find out how it works out for you not just in the setting up but also over the course of the plan.

immoralangel is a cab advisor. so i presume she is speaking from experience of having dealt with wonga for many many clients?