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

GrinC

Those who've not been affected, what was your credit rating like?

Popeye58

My credit file was very poor as I was in a DMP when I took my wonga loan. The way they caught me was when I first went with wonga years ago I had a decent credit file and I was borrowing month on month for about a year. Of course wonga then stated I had built up a good trust rating, so when I took my last loan with them I had fallen into a rut, however no questions were asked as I had the trust rating. I think if they had asked questions on each loan they would see that my finances were on a downward spiral, therefore would not have met the new criteria for a loan. Hence I think I have ammo to complain that I should be included in the write off.

vicarondo

Popeye58 wrote: »

My credit file was very poor as I was in a DMP when I took my wonga loan. The way they caught me was when I first went with wonga years ago I had a decent credit file and I was borrowing month on month for about a year. Of course wonga then stated I had built up a good trust rating, so when I took my last loan with them I had fallen into a rut, however no questions were asked as I had the trust rating. I think if they had asked questions on each loan they would see that my finances were on a downward spiral, therefore would not have met the new criteria for a loan. Hence I think I have ammo to complain that I should be included in the write off.

I'm the same, my credit 15 months ago was fantastic, secured mortgage the lot (didn't go throigh with buying house in end as split from partner, which resulted in my messy financial situation)
By September i started missing payments hence getting into the mess where I felt I needed the wonga loans. When they lent me the £1000 that I defulted on my credit rating would have been shot with 3+ missed payments on various debts

Brogden

Hi All

My loan with Wonga was passed to ARC Europe (Gothia.)

I have just spoken to Wonga and have been advised that I am excluded from their current 'loan wiping exercise' because my debt had been sold.

If anybody is in the same boat please take note of this. The MSE article is incorrect.

This is totally inequitable and I will now be complaining to Wonga by letter and then probably going to the FOS. I am also contacting ARC Europe tomorrow .

Brogden.

gm3724

Brogden wrote: »

Hi All

My loan with Wonga was passed to ARC Europe (Gothia.)

I have just spoken to Wonga and have been advised that I am excluded from their current 'loan wiping exercise' because my debt had been sold.

If anybody is in the same boat please take note of this. The MSE article is incorrect.

This is totally inequitable and I will now be complaining to Wonga by letter and then probably going to the FOS. I am also contacting ARC Europe tomorrow .

Brogden.

I am in the same position except Wonga have told me in different emails of the last few days that my debt was sold to Gothia and Portfolio Recovery Associates. How can Wonga not know who??


I have also complained to the Financial Conduct Authority and will be going to the FOS.

pixiefariedust

My repayment date isn't until the end of the month. They've emailed to say I have been affected and I am able to set up a four month repayment plan. But what if I didn't pay at all and went into arrears? Would my debt be written off?

DevCoder

No, they have assessed your affordability with their new algorithm and you are being offered a four month repayment plan. You do not meet their match for a write-off.

Thechief_2

Im still waiting for my payout re the june issue of sending out phoney debt letters lol anyone know where thats at??? Also i had about a grand off them when i was only earning about that a month 5 years back!!! Im a bit annoyed it isnt being wiped just because its been passed on so not fair!!! Also it stated they would be ��

Rich66

My wife was in the middle of a 4 month repayment plan & has had the e mail saying the balance has been written off, which is a relief obviously. She has been perhaps cheeky as they had collected a payment on 01/10 and has asked if that would be refunded ??


It did get me thinking that this is the next big scandal for refunding claims. If you are one of the 330,000 customers who've had e mails that they have identified they should not have leant to, could there be claims to reclaim interest and fees paid on loans that should not ethically been issued to those customers over the time someone has been a customer of theirs, or even part refund up to a maximum level, say £6000 like in ppi cases?? Just a thought, wonder what others think.

gsusfreak

Have just finished paying back a wonga repayment loan (due to not being able to pay the 30 day loan) two days after repaying them they sent me an email saying that I was one of the affected people in their affordability survey and that they would wipe the existing loan out! I have rang them today to inform them of the above and so far they have agreed to refund my last payment. Question: is there any chance that I would be refunded any more of the substantial amount I have repaid them before this. Thanks