Wonga apply default, then remove, then add again

happy_bunny_2

Apples2 wrote: »

Can we not take a wild punt and assume OP is not sitting on (or has access to) a pile of cash he could use to repay his loan and avoid a Default?

Possibly, but that's not the way the system works and companies should play by the rules, not like this one isn't making enough profit . They might be able to find some from family etc to avoid a default.

At least you can then know the default is fair.

Looks from the OPs first post that they are just useless and messing the OP about

dwy1981

Thrugelmir wrote: »

You've spoken to them so you fully aware that the account is in default.



Hardly going to make any difference to your credit profile whatever the outcome.

Time would be more more constructively used trying to find ways of clearing the debt owed. Rather than arguing over technicalities.

I was only made aware of the default after I saw it on my credit file. They did not send anything with regards to placing it on my credit file.

Regardless of whether or not it does not make a difference to my credit file, it is a point of principal, they apologized for adding the default in the first place, removed it, then added it again. That's not right and is not playing by the rules.

I am attempting to pay back every penny. I got the debt so I will pay it back. Technicalities??? Hardly a technicality when they are breaking rules, not only with this case, but right, left & centre. Plus the fact that I am to pay back over £860.00 for a £381.00 loan doesn't sit well either.

OneLife_OneShot

It doesn't really matter is it "doesn't sit well" you signed the contract agreeing the loan and any fees etc so therefore you only have yourself to blame for it. Sorry if it sounds harsh but that is the truth.

Apples2

dwy1981 wrote: »

Plus the fact that I am to pay back over £860.00 for a £381.00 loan doesn't sit well either.

You have to bring this into balance.

Wonga do make more than enough efforts to warn you about their loans, heres a few quotes from their site:

Unlike some lenders, we won’t keep rolling your balance endlessly or encourage you to make minimum repayments. So please think very carefully before you apply, because we expect you to repay us when you promise to.

We will always tell you what the full cost of repayment will be upfront. There are no catches or extra costs to worry about, providing you stick to your side of the deal

The only way costs will mount beyond our initial calculation is if you don’t keep your promise. In other words, if you ask us to change your chosen repayment date or don’t ensure enough funds are available for automatic collection. If our early morning collection attempt is declined by your bank - because you haven't ensured enough funds are available - we will do our best to contact you. We always seek to understand any problems and resolve the situation that day but, if we still haven't received full repayment by 5pm, you will incur a £20 missed payment fee towards the cost of a failed collection

.

We don't believe in hitting you with multiple charges, like many traditional lenders will, but interest will continue to accrue on your balance for up to 60 days if we can't reach a fair agreement in the meantime

The final pertinent warning:

None of these things are worth risking if you have doubts over whether you will be able to repay a loan comfortably. If that's the case, please don't apply in the first place

Being "miffed" at repaying £860 for a £381 loan is understandable, but they made efforts to ensure you knew exactly what you were racing headfirst into when desperately grasping for their money.