Quick Questions regarding wonga

jdl93

Basically I took out a loan with Wonga(Bad mistake), I went into a payment arrangement because I couldn't afford to pay it.
I spoke to the advisor, who said it wouldn't be shown on my credit file, then another advisor said it would be shown as a default.
And someone has said it will be shown as a payment arrangement

However after all of it, it has shown as a repayment arrangement and now im struggling to renew my phone contract now because of it.


Wonga are denying all of it, do i have a case if i go to court to get it removed.

imoneyop

jdl93 wrote: »

Basically I took out a loan with Wonga(Bad mistake), I went into a payment arrangement because I couldn't afford to pay it.
I spoke to the advisor, who said it wouldn't be shown on my credit file, then another advisor said it would be shown as a default.
And someone has said it wont be shown at all

However after all of it, it has shown as a repayment arrangement and now im struggling to renew my phone contract now beacause of it.


Wonga are denying all of it, do i have a case if i go to court?

No - the only mistake is someone from Wonga told you that it wouldn't appear on your credit report.

From the limited details you've given your credit report sounds accurate. You entered a payment arragnement and that is what your credit history correctly shows.

Tixy

In the original agreement/T&Cs when you took out your loan it does say that they may report to the credit reference agencies.

I think you have little chance of getting this removed, it accurately reflects the account history. Wonga usually do enter a default when a person defaults, so arguably showing only an arrangement to pay is a good result.

Do you mean if you tried to take them to court to try to get a court to require them to remove the entry from your file?
That would not be successful, or be the way to deal with this. If you did want to do anything it would be a formal complaint to Wonga followed by making a complaint about Wonga to the FOS. But I doubt you would have much luck in doing so.

michael1983l

Tixy wrote: »

In the original agreement/T&Cs when you took out your loan it does say that they may report to the credit reference agencies.

I think you have little chance of getting this removed, it accurately reflects the account history. Wonga usually do enter a default when a person defaults, so arguably showing only an arrangement to pay is a good result.

Do you mean if you tried to take them to court to try to get a court to require them to remove the entry from your file?
That would not be successful, or be the way to deal with this. If you did want to do anything it would be a formal complaint to Wonga followed by making a complaint about Wonga to the FOS. But I doubt you would have much luck in doing so.

Arguably defaults are better than APs if your AP is over a long period of time as it is entered on your credit file each month until the balance is clear. Whereas a default is entered once and will drop off your credit file quicker. So in some cases I'd rather have the default.

jdl93

Im happy that iv taken out the loan fair enough(Stupid Mistake), and for that to appear on my file.

However id like the repayment arrangement part removed. (Thats the main thing, ive heard its as bad as a default)


However they didn't give me an accurate reply when I phoned them? ive tried complaints and they give me 1 line answers.

Tixy

michael1983l wrote: »

Arguably defaults are better than APs if your AP is over a long period of time as it is entered on your credit file each month until the balance is clear. Whereas a default is entered once and will drop off your credit file quicker. So in some cases I'd rather have the default.

I'd agree if you are paying over a long period or if you have other defaults, however if a payday loan is being paid back over a relatively short time period (say less than 6months) then it won't be on file much longer, and to some potential lenders is viewed as less damaging than a full default.

Tixy

jdl93 wrote: »

However they didn't give me an accurate reply when I phoned them? ive tried complaints and they give me 1 line answers.

Have you written/posted a complaint to them? That is what I would try in your situation - but I also wouldn't hold out much hope for success.

imoneyop

jdl93 wrote: »

However id like the repayment arrangement part removed. (Thats the main thing, ive heard its as bad as a default)

Why should it be removed? As I said before, it is an accurate reflection of your credit history.

Potential future lenders have a right to know that in the past you borrowed money and then couldn't repay it at the agreed time - this makes you a higher risk and the rate the lenders offer you will reflect this.

It's unfortunate that you were given incorrect information by Wonga's call centre, but that really is irrelevant. Had the first person told you that you would be getting an AP on your credit history then I assume that it wouldn't have change the fact that you couldn't afford to pay them back when you were supposed to.

rizla_king

If they had told you straight out at the start that it wouldn't have gone on your credit file, then you would have magically been able to pay it to stop that? Right?

I presume no? So was going to go on your credit file no matter what Wonga staff rightly or wrongly said. They haven't caused you any harm by telling you the wrong thing.

On that basis I can't see that you have a complaint.

jdl93

imoneyop wrote: »

Why should it be removed? As I said before, it is an accurate reflection of your credit history.

Potential future lenders have a right to know that in the past you borrowed money and then couldn't repay it at the agreed time - this makes you a higher risk and the rate the lenders offer you will reflect this.

It's unfortunate that you were given incorrect information by Wonga's call centre, but that really is irrelevant. Had the first person told you that you would be getting an AP on your credit history then I assume that it wouldn't have change the fact that you couldn't afford to pay them back when you were supposed to.

However i couldnt adjust the fact id lost my job? that is a circumstance out of my control

jdl93

Tixy wrote: »

Have you written/posted a complaint to them? That is what I would try in your situation - but I also wouldn't hold out much hope for success.

I have tried for weeks. and your right, no result