Wonga Fined For Using Non-Existent Law Firm

wrkactjob

Compensation on the way to those that received letters.

Will be a lesson to any other DCA using "pretend" legal firms.

http://www.bbc.co.uk/news/business-28015456

Tixy

Also FCA press release on the matter http://www.fca.org.uk/news/wonga-redress-unfair-debt-collection-practices

RAS

In the process they also identified 200,000 whose debt to Wonga and other comanies had been wrongly calculated.

backinbusiness

Scummy tactics.

North_East_Derbyshire_CAB

Hi


Wonga, the UK’s biggest payday lender, has entered an agreement with the Financial Conduct Authority (FCA) which will see it pay compensation of over £2.6m to around 45,000 customers for unfair and misleading debt collection practices.

Mmmm


NED-CAB

Kate_fixing_it

I've already had an email from them saying basically "we're sorry, we got caught (there is punctuation there though I expect they mean the same without it ) but we don't think we did it to you so you are getting nothing".

Will be interesting to see what else develops from this. I think they'll be deeply scrutinised and there will be a lot more to come on the subject of PDL regulation...and about time too!

Kate x

Chrisblue1962

I think this matter should now be passed to the Director of Public Prosecutions (Head of Crime Prosecuttion Service) as impersonating a solicitor, if that is what has happened, is a criminal offence under the Solicitors Act 1974.

jamess55

You see, this is what I find frustrating... The PDL companies are criticised for their interest rates, but can easily defend the "thousand(s) percent" figures because the PDLs are typically offered for a month and the APR/AER is calculated over a year which skews the results.

No, the real problem has always been added charges and the way that they recovered the debt through techniques such as continuous payment authority. So I'm happy to see this is what's been uncovered today.

The only positive I can take from this is that Wonga appear to have been proactive in contacting customers like me who were affected. But it's a very small positive, I can tell you.

P.S. If it were to come to court under the "Solicitors Act 1974", I think Wonga would (may?) point out that the letters - or at least, the one I received - did have, in very small letters, the phrase "Wonga Ltd t/a Barker and Lowe Legal Recoveries" [t/a I assume is "trading as"] at the bottom of the letter. I am not a lawyer but I wonder if that would suffice as a "we ain't guilty" tactic, regardless of how tiny the writing was?

sourcrates

A creditor purporting to be a made up Law firm and demanding money or they will take you to court ......................?



I don't believe it lol