Wonga Compensation

Sinhanada

I'm just wondering if anyone has received their compensation from Wonga for their use of fake solicitor letters? Or indeed if anyone has had any update from the initial flurry of contact?

MattOAFC

I believe there is some kind of message on their website stating end of Feb, however I would personally take this with a pinch of salt. I started chasing my redress letter up in October & following 5 failed promises, when I should expect to receive my redress letter I complained to the FSA whom are now handling my case. I should hear from the FSA within the next 4 weeks.

Sinhanada

Thank you for the reply. I purposely do not go to their website at all.

I've written them a letter of complaint and will approach the Ombudsman after 28 days. Personally I don't think they'll be around in the UK much longer than a year or two...

sevmccaig

I sent back my acceptance letter two weeks ago and I have heard nothing since. Not expecting anything from them to be honest

edinburghman10

I haven't heard anything either and it was over 2 weeks back.

Gaz83

Sinhanada wrote: »

Thank you for the reply. I purposely do not go to their website at all.

I've written them a letter of complaint and will approach the Ombudsman after 28 days. Personally I don't think they'll be around in the UK much longer than a year or two...

I agree. Payday loan companies are coming to the end of their life cycle, as did secured loan companies (Ocean Finance etc.) five or six years ago. Remember in 2007 when every second advert was for a loan company wanting you to consolidate your debts?

The problem is that those with no access to credit will be forced to use Mike And The Boys. And their late payment fees are certainly not punitive interest.

But hey, as long as folk get their interest refunded, that's fine.

MattOAFC

My friend works for a small payday company & they have decided recently to stop lending due to the amended rules they now have to adhere from the FCA, which no longer makes it profitability for the 30 day loans. Apparently his bosses believe the likes of Wonga & Quickquid are/will be following the lines of the 118 loans etc the smaller companies will close.

sevmccaig

Anyone received any compensation yet? 3 weeks and I've heard nothing. Time to call them I think

button312

I received over £700 few weeks after I returned documentation they sent to me in the post which was about 3 months after their initial email.

CHR15

Gaz83 wrote: »

I agree. Payday loan companies are coming to the end of their life cycle, as did secured loan companies (Ocean Finance etc.) five or six years ago. Remember in 2007 when every second advert was for a loan company wanting you to consolidate your debts?

The problem is that those with no access to credit will be forced to use Mike And The Boys. And their late payment fees are certainly not punitive interest.

But hey, as long as folk get their interest refunded, that's fine.

Ironically (or is that fortunately?) It's the very people posting in this thread who will be complaining nobody will lend so are the ones most likely to suffer this outcome.

Thechief_2

Still nothing!!! Have phoned them loads of times!!! Im guessing with many they no longer have correct info so have no idea what to payout so are just not gunna bother!!! Surely thats unlawful and unnacceptable??? Someone please help me get this sorted as im expecting a decent payout after they inflated the balance in there fake letters they sent me!!!