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Wonga Loan

YoungSaver_2
YoungSaver_2 Posts: 17 Forumite
Hi, after a bit of advise.

Took out a wonga loan 4 days ago and spent it on a huge family birthday present, they thoroughly deserved it.

I'm in the process of getting a loan from a credit union for me travelling around the world, they are requiring a bank statement. I'm looking to do it between the dates of wonga showing on the account 28 days, so it doesn't look bad.

I will be paying b ack on the agreed date, so the information I am looking to konw is when will wonga appear on my credit history, in the next few days or after I pay the loan back.

Wondering as obviously the union will check out my file. Any advise.
Cheers
Rebuilding my finances
«1

Comments

  • sharpy2010
    sharpy2010 Posts: 2,471 Forumite
    YoungSaver wrote: »
    Any advise.

    Yes, you can't afford it. Save up and go travelling when you can.
  • bengalknights
    bengalknights Posts: 5,021 Forumite
    Part of the Furniture 1,000 Posts
    It will be on your credit file as a search and loan
  • splodge1983
    splodge1983 Posts: 57 Forumite
    Just a quick question from me... you say in your signature that you have £2150 in savings (and well done you for it), but if you have all this money why are you taking out very high rate loans from Wonga??

    I have no idea about what the credit union will check, but hope you get on your travels soon.
    LBM May 2012 :)
    Total Debt: Jan 2013: 4558.93, Feb 2013: 4175.61,
    Mar 2013: 3395.61.:T
  • Moneymash
    Moneymash Posts: 510 Forumite
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    If the person you brought the present for 'throughly deserved it' it sounds like they are a nice person, surely they would have waited for the present and not wanted you to get into debt for it?

    Also, won't the credit union now think you would have been borrowing less from them if you hadn't had to pay back the wonga loan?

    Good luck.
    Debt-Free day 30th September 2014
  • YoungSaver_2
    YoungSaver_2 Posts: 17 Forumite
    Because I don't have access to the savings . Locked away. I have disposable income of more than 1000 a month so can afford it but I was stupid to take it out yes but my original question was when will it appear on my report
    Rebuilding my finances
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    there may be a credible story here who knows but
    'wonga' won't appear on your credit report; simply the fact of a loan will appear
  • rartherinv
    rartherinv Posts: 158 Forumite
    Part of the Furniture Combo Breaker Debt-free and Proud!
    For me, wonga does not search or record info with experian or equifax, not sure about my callcredit. if they did record account info with them i would have a whole lot of sad reading on my file.

    i reckon they do not bother to share general account info, only sharing info about defaults. someone correct me if i am wrong there...
  • Jo84_2
    Jo84_2 Posts: 101 Forumite
    I know certain details can take a month at least before they show on your report.

    I was told that once I put my name on the electoral role it will take at least a month before it shows on my record, not 100% sure if this is the same with taking out loans etc.
    Sealed Pot Challenge 5 #1806 / £159.18
    Pay All Your Debts Off By Xmas 2012 Challenge #346 / £1487... £382 so far
    Weekly Grocery Shopping Budget £50... this week's spend £39.80
  • Apples2
    Apples2 Posts: 6,442 Forumite
    Thanks for the encouragement. I came home drunk last week an lost all the money in the current account. I'm disgusted with myself.
    https://forums.moneysavingexpert.com/discussion/comment/53339281#Comment_53339281

    So you're saving £1k per Month but borrow at extortionate rates, for presents and holidays?

    That "corner you turned, New beginning, new plan, new person", is still someway off yet..
  • Moneymash
    Moneymash Posts: 510 Forumite
    Part of the Furniture 100 Posts Combo Breaker Debt-free and Proud!
    I took out a Wonga Loan on 13/03/2012. I got my credit report from Experian on 14/04/2012 which showed my report was last updated on 08/04/2012.

    The Wonga loan was showing as
    Company: WONGA COM
    Account Type: PAY DAY LOANS

    The wonga loan isn't showing on my noddle (callcredit) report

    :(
    Debt-Free day 30th September 2014
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