MSE News: Wonga busted by the FCA: 330,000 to have their loan wiped

huntz

OMFG the whole thing has been wiped and credit file wiped!!! YAASSSS


We want to put things right for our customersWe are writing to you as a Wonga customer. If you believe you have received this email in error please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830.Dear Mr Clark Hunter[FONT=arial, san-serif]You may have already read or heard in the news recently about an announcement on 2nd October from the Financial Conduct Authority (FCA) regarding changes to our lending criteria. [/FONT]

We can confirm that you have been affected.

[FONT=arial, san-serif]The changes mean that we have new ways of testing whether customers can afford the loan they want to take out - these are called affordability criteria. We have investigated your case and we believe you are one of the customers who have been impacted as a result of these historical affordability issues. [/FONT]


What happens next

[FONT=arial, san-serif]We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything. [/FONT]

[FONT=arial, san-serif]We are working with the relevant credit reference agencies to remove records relating to this loan from your credit report. We expect this will take between three to four weeks to be completed. This will be done automatically and there is no further action required from you. [/FONT]
Key Facts
for customersWe have committed to a major customer forbearance programme in light of changes to our lending criteria

We have identified you as being affected by affordability issues and so we are clearing any outstanding debt on your loan

Please do not make any further repayments

You do not need to do anything. We will contact you to confirm that your balance is zero.

For further information, you can find out more on the lending criteria changesIf you are currently making repayments to us, such as by Standing Order, please do not continue to do so. We recommend you contact your bank to cancel these repayment arrangements. Please be assured that, should a repayment be made, we will refund this amount to you.

We will contact you in due course to confirm that your balance is zero.

If you are in an Individual Voluntary Arrangement (IVA) or your debt is being managed through a Debt Management Provider it is your responsibility to inform the person managing your debt of these changes.

On behalf of our Chairman, Andy Haste, and the rest of the team at Wonga, we recognise that we may not have always made the right lending decisions and for this we apologise. We intend to be sure in the future that we only lend to customers who can reasonably afford to repay their loans.

You can find out more about these lending criteria changes here. Alternatively, please call our customer care team free on 0800 042 0210 or if you are calling from a mobile on 0333 003 0830.Yours,

Tim Weller
Interim CEO, Wonga Group

mollymegan

vicarondo wrote: »

Maybe we will recieve something yet; sounds like they are only just filtering through now

fingers crossed

so pleased for everyone that's had their debt written off:beer:

mollymegan

Ok mines just come through !

vicarondo

Yay!! Nothing my end yet. I'm the unluckiest person in the world so I doubt I will lol

huntz

They wont all come through at the same time mate.

vicarondo

There's still hope! Lol

mollymegan

vicarondo wrote: »

Yay!! Nothing my end yet. I'm the unluckiest person in the world so I doubt I will lol

The emails are slowly trickling through, just keep checking

cockbeard

Kinda wish I'd cancelled my CPA now, might've saved me £400

ChrisS1

They must have read my earlier post... just got an email 18:44pm

Important – update on the affordability issues‏
We can confirm that you have been affected.

We will automatically clear any outstanding debt you have with us and your balance will be set to zero. This will be done by the end of October 2014. You do not need to do anything.

bbfc

I got an email too! Woohoo!

However I've made a payment today as part of my repayment plan. Do you think that will be refunded?