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Best way to pay off Wonga
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mrpleasehelp wrote: »Just had a thought as an alternative to opening a new bank account.
If Wonga use my debit card to take back their money, what if I phone my bank, claim I've lost my debit card so they cancel by current card, then I could get a new one, retain my bank account and then set up a standing order with wonga to pay it off in a couple of months?
I'm at work at moment so would need to sit down and work out my outgoings etc etc.
Kind regards
Thank you so much for the sound advice so far, you guys are brill.
By giving Wonga your bank details, you have authorised a continuous paying authority. This is a type of regular automatic payment that you can set up using your debit or credit card.
The authority is linked to the bank account or credit card account that your card is linked to. It's a popular method of making regular payments – favoured by many businesses, including gyms, internet service providers and even payday loan providers.
This method of payment is set up by you giving your debit or credit card details to a company to which you wish to make a regular payment. This can be done over the phone, in person or online. Often there is no written record of the authority being set up.
A CPA gives the company you are paying the mandate to take payments on dates of their choosing and for different amounts. Therefore, cancelling your card will not work.
Wonga may well stick to an agreement; they do seem to be one of the better PDL companies, however, I have also read of them not sticking to agreements and cleaning out bank accounts. Personally, if it were me, I wouldn't risk being cleaned out of all my funds but it is your call.0 -
Cancelling the card might not even work, the best option is open a new account with a bank not associated with your current 1. To get out of the cycle you need to cut your outgoings so call up your utilities and ask if your payments can be reduced, get rid of the monthly sky package and revert to the basic 1, mobile phone see if the network can change your package. Maybe create an soa and post it on the dfw board.
It is your choice entirely.0 -
Would opening up a 2nd current account with Santander not be good enough? Surely Wonga can't obtain money from a completely separate current account?
Kind regards0 -
mrpleasehelp wrote: »Would opening up a 2nd current account with Santander not be good enough? Surely Wonga can't obtain money from a completely separate current account?
Kind regards
If your already with santander then yes I believe Wonga can raid it, why not try it out and tell us.0 -
When you have fully paid of your debt with them, ask them to block you from using their site again. I have just paid of my stepsons bill, over the phone, they were very helpful and even offered a repayment plan, but paying it all in one go was a better option for me. I asked them if there was anyway they could stop him from going on and borrowing even more money, and they said they can block him, but he has to request it...0
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you haven't chosen to answer my qyestions in my previous post but just to say that the advice you are receiving will of course trash your credit files for the next 6 years; if it's already trashed or it isn't a problem to you then that won't matter.0
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the only way is to get a new bank account,how you manage to get in so much debt with a payday loan company then cry about it when youve spent it is another subject...but change the bank account and fast.Im known as the 'Fixer' if you have a problem,come to me and i can fix it for you.0
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My sister got involved with wonga.
I went on the phone to them and she was sent an income and expenditure form by email.
We filled it in and a payment agreement was agreed with all interest frozen.
She pays £206 a month, the first payment came off yesterday without a hitch, the last payment is due on 1 December.
Got to say, i found Wonga to be very accommodating considering my sister had in essence reneged on her agreement to pay them back.
One other thing, this was all set up in advance of her original due date (ie) they did not try to take funds on that due date.
The arrangement was all set up and agreed before that.0 -
Got to say, i found Wonga to be very accommodating considering my sister had in essence reneged on her agreement to pay them back.
Payday loans have a very, very, VERY high default rate. People frequently renege on their agreements, and often claim to their bank that the debited repayments are disputed or even fraudulent because they can't afford to pay back what they borrowed.
Wonga are probably grateful to be getting anything back at all, instalments or not.urs sinserly,
~~joosy jeezus~~0 -
Post 20 is a referral he knows where referral forum is as he also posted this in there so should know better0
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