Wonga Advice

GingerFurball_2

Itazura wrote: »

I haven't cancelled anything as of yet I am afraid. This will be the first time I have ever let them collect a payment since I started using them as I always set the repayment date for the day after I got paid incase anything ever went wrong and paid them back "manually" through the website.

Yeah, it shows what is due to be collected and when, which is as follows:

01 Mar 2014 £115.00
01 Apr 2014 £115.00
01 May 2014 £115.00
01 Jun 2014 £115.00
01 Jul 2014 £115.00
01 Aug 2014 £115.00
01 Sep 2014 £115.00
01 Oct 2014 £115.00
01 Nov 2014 £115.00
01 Dec 2014 £100.77

I haven't cancelled either the CPA/DD but I do know that they're due to collect it automatically tomorrow, which I presume will be in the early hours of the morming?

Is there potential for them to take what they want/take from my savings account because I haven't cancelled either of these?

Depends how they're collecting the money, if they're doing it by Direct Debit then they won't actually collect the money until Monday morning.

Itazura

Hmm... I guess all will become clear tomorrow morning when I check my account!

Thanks for all the replies guys, I really appreciate it. I'll update the thread tomorrow, hopefully I can get some sleep tonight!

Itazura

Okay -- I've just checked my bank and the money is still there which must mean they're taking it by DD, right?

I kind of just want them to take it to see what happens so I can stop fretting about it quite so much. I do have obe concern though -- in the e-mail I was sent about the repayment arrangement they said they'd keep adding interest until they got the first payment. Does this mean they will if the money isn't taken until Monday because of it being taken by DD?

ampersand

Hello Itazura -

You wrote in post 13:
'I know exactly what I need to do and what needs to be changed. Thanks for all the help and I will definitely try and follow all of the advice/update the thread too.'

Wrong! Itazura, this is empty mouth music right now until you have a total mindset sea-change.

Alert:tough love wake-up call ahead! Plan collision course!

Please look at my siggie and make that first call now. Martin rates CAP highly. So do I and many others who have worked with people in much worse situations than yours.

CAP are brilliant. You will sleep. You'll save -AND SAVING IS HIGHLY ADDICTIVE. You'll stop fretting. You'll finally have confidence in your ability to control yourself and your money. They don't proselytise. They make a budget for 'you' money each week too. Christians Against Poverty - that 'C' is WHY they do this, not a negative. They've also won several DT and Times Best Small Business Awards, if that gives you reassurance.

Well done for taking your first FORWARD step in coming here. Wonga's a backward one, but CAP will change that too.

I'm subscribing[=returning to snoop at your homework]

I'm allowed to be bossy - 2nd Bus Pass, survivor Gold Class with long-service medal and Star. plus All Black bloodline. Don't mess with me, OK? :-)

Itazura

Right, first payment has gone out okay this afternoon and they haven't taken anything extra... so far, so good! I feel a lot of relief but will be keeping a very close eye on my account and my Bank Account over the next few months!

Itazura

However, my account now says it's one day in arrears although no interest shows as being added as my balance is what it should be after the first payment...an anxious wait to see what happens over the next few days to make sure they're not adding interest now it seems!

Monkeyballs

Itazura wrote: »

However, my account now says it's one day in arrears although no interest shows as being added as my balance is what it should be after the first payment...an anxious wait to see what happens over the next few days to make sure they're not adding interest now it seems!

Ho Itazura,

Sounds all good to me

If there is a problem then they will be in touch, you need not worry about that LOL

If I recall, when I had a repayment plan set up it showed x number of days in arrears because I think it was referring to the original collection date... You've stuck to your end of the bargain and them collecting monies a day later than expected is their problem - I seriously doubt you will be penalised

MB

Itazura

Yeah, it seems okay at the moment but still feeling quite anxious overall...! I think after a couple of days when it's all settled and I know exactly what's happening that I will feel a lot better.

Still, thanks for your replies -- they've been very, very helpful!

Itazura

Right, just a quick update for anyone who is still followimg this thread!

It's now been a month since the repayment plan started and the second payment went out today. I managed to get through last month without the temptation to borrow money from elsewhere despite not really having anything left for the last week of March, whilst also being asked by people to meet up/go out which would normally have triggered me to use Wonga in the past.

I'm feeling pretty good despite it being a tight month ahead of me! I think the worst part is now over and hopefully things will continue to go well... I hope!

So far so good at least!

fozmcfc

Well done to you Itazura, do keep the post up to date even if it's only every few months, it's useful for others in the same or similar situation.

Being debt free is a wonderful feeling, but for many it does take a year, two years or even more and a change of lifestyle and willpower.

For me that also meant even if I went out, I got a bus home, instead of a cab and had some toast when I got in, instead of a kebab or burger. Every few pounds here and there helps.

The key is, once that final repayment has gone out, to continue the good work. Start to put by 50% of the money no longer being spent, into savings, to help if a genuine emergency comes up or even for the odd, unplanned night out.