Repay Wonga with credit card?

OneLife_OneShot

I made a one off payment to Wonga using a credit card but that was just an early repayment as I had lost my debit card at the time.

When I had a repayment plan on my Noodle report it was under "Arrangement to Pay" but it takes ages to update on Noodle. Not sure about Experian I need to get a new report off them soon, Equifax I think are completely useless.

kenh11

So I might be able to avoid having a default on my file, if Wonga decide it should be that way?

Sounds like they can go one way or the other at random which is worrying, obviously I've got myself in this mess so I can't blame them for my actions, but I now have about 12 days to sort something out, the loan is actually more than the wage I'll have coming in for Christmas.

As I said, it has completely spiraled.

So I'm thinking, maybe get a credit card and pay half, and pay the other half via an agreement with Wonga?

Any suggestions for credit cards and how it would work? Would I ring Wonga and pay over the phone using card details of the credit card??

Thanks.

OneLife_OneShot

In my situation I could afford to pay off my loan I just used a card to do it as I had lost my debit card and wanted to save by paying it early.

If you can get a credit card just pay Wonga off all at once if you can, then just never go back. That is all I can advise.

iaintw

Equifax credit references are not in the Payday Loans
Callcredit has the payday loans register with your name as "against income" something. check your callcredit (aka noddle)
as for experian their are not going to add you on your credit agreement with payday loans (experian tell me that their can search your cra (from payday loans) but their can not you on the accounts)
Dont used credit cards (you will be in debt with your credit cards only and it is a last resort too) its a emerceny only credit cards
ask them for a payment plan
ask them for their bank details

Experian_company_representative

Rrambles wrote: »

Can i ask, is having payday loans on your credit file a bad thing even if you pay the loan on time?

This Q&A might help. Not all lenders see payday loans separately from other loans and those that do may see well managed credit of any kind as positive.

James Jones

System

Experian_company_representative wrote: »

This Q&A might help. Not all lenders see payday loans separately from other loans and those that do may see well managed credit of any kind as positive.

James Jones

This misinformation really annoys me.

Wonga are a pay day loan company - i.e you can't make your wages last from one month to the next. How will lenders see that as positive?!

DevCoder

Love that FAQ, lots of "shouldn't", "possibly", "might" and "could"...

BugsyBrowne

PinkandPurpleGlitter wrote: »

This misinformation really annoys me.

Wonga are a pay day loan company - i.e you can't make your wages last from one month to the next. How will lenders see that as positive?!

Do not pay any attention what comes out of James jones mouth as 99% of the time the geezer makes it up as he hasn't got a clue.

kenh11

Thanks for all the replies.

I am going to Email them now with an explanation and request their bank details and a repayment plan.

Getting a credit card would only get me more stuck than I am already, and won't really provide any different solution than asking them for a payment plan.

I'll post up how I get on.

Thanks.

kenh11

Sent. Could have been better, but done.


Good afternoon,

I currently have a Live Loan with yourselves that is due for repayment on the 25th December.

The amount that is due to be paid back is £1400.75.

Unfortunately due to extenuating personal and financial circumstances I am not going to be able to repay this loan on the agreed 'promise date'.

I would like the bank account details of Wonga.com so I can repay a set amount each month until the balance is cleared.

Under this 'repayment plan' I propose to pay £200 every month until the balance is cleared.

Please can you inform me of your acceptance, and that the interest would be frozen, so as to ensure the total amount repayable does not increase.

Please can you also confirm you will not attempt to take the funds from my account on the previously agreed promise date.

This will only result in further financial difficulty and make it even harder for me to repay the balance.

I am extremely regretful that I find myself in this position and appreciate the helpful service I have received from Wonga every previous time I have used you, and look forward to your reply.

Yours Sincerely