payday loans

martiUK
martiUK Posts: 33 Forumite
in Loans
i have a question with the decesion by or for wonga about repayments does anyone now if any other companys will be doing the same as they all have appeared to be the same so why are other companys not doing refunds i spoke to one who i have outstanding amount with which defaulted and paying back by plan and they just said Wonga were just stupid to make that decesion and no one else would, any one had luck with other companys

Comments

  • Browntoa
    Browntoa Posts: 49,300 Forumite
    Name Dropper Photogenic First Post First Anniversary
    slim chance , wonga only did it as they got "busted" by the FCA

    http://forums.moneysavingexpert.com/showthread.php?t=5074659
    Ex forum ambassador

    Long term forum member
  • martiUK
    martiUK Posts: 33 Forumite
    understand that but are they not all likely to be in same boat
  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    Combo Breaker First Post
    martiUK wrote: »
    understand that but are they not all likely to be in same boat
    No-one here will know.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • CHR15
    CHR15 Posts: 5,193 Forumite
    First Post First Anniversary Combo Breaker
    I agree with their response. Wonga went above and beyond in their decision.
  • martiUK
    martiUK Posts: 33 Forumite
    i did imform them that i would be able to pay 2 weeks later which i had the money for £350 but didnt have a amount of £700 if they put £50 would have been ok to pay extra
  • poppasmurf_bewdley
    poppasmurf_bewdley Posts: 5,909 Forumite
    Name Dropper First Post First Anniversary
    Presumably their terms were agreeable when you wanted the money and took out the pay day loan. Why are they not agreeable now?
    "There are not enough superlatives in the English language to describe a 'Princess Coronation' locomotive in full cry. We shall never see their like again". O S Nock
  • goodfelladave
    goodfelladave Posts: 30 Forumite
    Didn't Wonga cancel loans because of the misleading way in which they sought repayment? I don't think it was to do with the terms of the loan, it was to do with the tactics used to try and recoup money off defaulters.
  • Gaz83
    Gaz83 Posts: 4,047 Forumite
    Combo Breaker First Post
    goodfelladave wrote: »
    Didn't Wonga cancel loans because of the misleading way in which they sought repayment? I don't think it was to do with the terms of the loan, it was to do with the tactics used to try and recoup money off defaulters.
    Partly because of the 'fake lawyer' thing, but also partly because they admitted that they shouldn't have lent to a lot of people in the first place because of affordability.
    "Facism arrives as your friend. It will restore your honour, make you feel proud, protect your house, give you a job, clean up the neighbourhood, remind you of how great you once were, clear out the venal and the corrupt, remove anything you feel is unlike you... [it] doesn't walk in saying, "our programme means militias, mass imprisonments, transportations, war and persecution."
  • Diana45
    Diana45 Posts: 1 Newbie
    I don't think that there is a chance that other companies will do the same for their clients! Who wants to do a refund and forgive loans? No one. I don't fully understand why Wonga did that. Some of my friends and relatives use payday loans sometimes but no one told me that his loans were withdrawn. That's why you shouldn't cound on that, most likely that it happened only with Wonga and it's not gonna happen to other companuies.
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards