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

Apples2

Who is the Debt Management Company?

If it is a fee paying one, they willl be skimming about 20% of every payment straight into their own pockets so you have two hopes of getting refund.

brabs2

My DMC is PDHL but they took over my plan after buying my previous DMC out. I pay them £97 a month with £50 of that going to Wonga and they charge me £25 a month.

bbfc

Still says I am in arrears on the website, and still no refund. They are cutting it fine!

Hyzenthlay

Mine hasnt been updated yet either bbfc. Mine is a rollover which they said they would delete interest and fees on. I had email on 10th. I noticed that people are still having emails last week on which it states they will be sorted by the 31st. How are they going to sort them in a week when they still havent sorted the first batch? Wasnt sure if i was supposed to contact them, it didnt say to in email?

Hyzenthlay

Just logged in to my account and mine has now been updated. Hope everyone else who was still waiting gets their accounts updated too.

vicarondo

Mine hasn't yet, but I ony received my email last week. I don't reckon they will make the 31st deadline. What are the implications for Wonga if they don't?

bbfc

vicarondo wrote: »

Mine hasn't yet, but I ony received my email last week. I don't reckon they will make the 31st deadline. What are the implications for Wonga if they don't?

The lady I spoke to at Wonga said that it all had to be done by the end of the month. My account still hasn't been updated and I have not had my refund yet. Will give them another call tomorrow if nothing happens.

James_B.

What is everyone planning to do with their refunds?

Hopefully most will treat this as a fresh start, put it in an emergency fund, and make sure that they never again find themselves needing to take a loan that even the lender accepts that they can't afford.

vicarondo

Ooohh am i likely to get a refund?

bbfc

Well... just spoke to Wonga who are now saying that my refund is still being reviewed and they cannot give me a timeframe for when I will receive it. She said that due to the amount of refunds they are processing, it's taking a lot longer than the usual 48 hr turnaround, and that to bare with them and the money should be refunded back into my bank ASAP.