Has anyone used Wonga before?

Prizzly

Hi all,

I've recently been hit by an unexpected repair bill, don't have time to arrange an overdraft and don't particularly want to burden any friends or relatives (who probably don't have the spare cash anyway) to ensure I can make it to my payday.

I've looked at Wonga for a quick payday loan, who will charge me £45 for £400 over the next two weeks.

Has anyone used them before? Was it as bad as everyone seems to think? What was the reason you went for it and how did it turn out?

Thanks in advance.

worried_jim

As long as you can pay it off, it may be cheaper than the bank, but I would call them and ask your bank first.

Apples2

Prizzly wrote: »

Was it as bad as everyone seems to think? What was the reason you went for it and how did it turn out?
.

It is absolutely no problem at all for anyone who repays it the way they agreed to.
Not many people seem to though, they kid themselves into thinking it will solve all the problems but then that unexpected date occurs when it is supposed to be repaid.

I wonder why you think arranging an overdraft takes longer than posting on here then applying for a PDL.

As long as you bear in mind it WILL have to be repaid then either option will be fine, either clear the PDL or clear the overdraft, whichever suits you best.

SilverSaloon

what needs repairing for £400?

are there alternatives? ie ask on gumtree/freecycle for a replacement/live without it..... repair it yourself etc.

DCFC79

To prevent this from happening again in the future put some money aside.

SeduLOUs

Wonga are fine and you will pay what it says you will pay, as long as you have the money available to pay on the date agreed. You give card details in advance, and they take the money automatically on the agreed repayment date. It all goes downhill when people borrow more than they can afford to pay back and it just escalates into a total nightmare.

Be aware that using Wonga or similar will almost certainly have a detrimental effect on your credit file - definitely avoid it if you plan on applying for cards/loans/mortgages in the next year, possibly more.

If you do decide to go ahead, use TopCashBack or similar, and you'll probably find that the cashback you can get will cover the interest you will pay. I'd also advise using an alternative email address, as they will hound you after a successful loan attempting to entice you to come back and borrow more.

Gordon_Hose

Payday loans can have a negative effect on your credit file.

Tryingtomoveout

As others have stated, do not take a PDL if you are planning to take out a mortgage in the next three years.


If you are sure you can pay it back then it should be ok. Have you thought about paying for the bill on a credit card?

SilverSaloon

i'd be interested in knowing what the £400 is for. There are usually cheaper alternatives.

Paully232000

SilverSaloon wrote: »

i'd be interested in knowing what the £400 is for. There are usually cheaper alternatives.

I am just guessing, but a car repair bill for an MOT pass or through wear and tear could easily come to £400.

Robin9

£445 is a lot of money to find on payday.