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Wonga Debt Timeline
wongawalloped
Posts: 3 Newbie
in Loans
In 2012 I started a thread (ID: 3742831) describing my financial predicament. At the time I had multiple payday loans on the go and could not see a way out. It reached a peak when I wrote the post on MSE (thank you to everyone who replied with help). I followed advice and cancelled my bank card, this prevented any of the payday lenders taking my whole wage every month and I began saving.
I though it might be useful for people to see the timeline from the original loan of £205.50 and how it quickly escalated to a debt of £2027.36.
I've included the email correspondence from Wonga.
There were large periods of hiding my head in the sand and running away from the debt which I am not proud of. Every knock at the door and every time the phone rang was nerve-wracking. I'm now in a position were the debt is cleared and a massive cloud no longer hangs over my head.
08/11/2010
Great news! We can confirm £205.50 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/11/2010
Repayment amount: £219.69
Fee: £14.19
02/12/2010
Great news! We can confirm £301.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/12/2010
Repayment amount: £345.80
Fee: £44.80
02/02/2011
Great news! We can confirm £300.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/02/2011
Repayment amount: £347.68
Fee: £47.68
11/02/2011
Increased loan amount by £140.00
New loan amount: £440.00
Repayment date: 16/02/2011
Repayment amount: £500.36
Fee: £60.36
02/03/2011
Great news! We can confirm £442.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/03/2011
Repayment amount: £504.88
Fee: £62.88
01/04/2011
Great news! We can confirm £440.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/04/2011
Repayment amount: £507.02
Fee: £67.02
11/04/2011
Increased loan amount by £96.00
New loan amount: £536.00
Repayment date: 15/04/2011
Repayment amount: £612.52
Fee: £76.52
04/05/2011
Great news! We can confirm £538.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/05/2011
Repayment amount: £602.47
Fee: £64.47
15/05/2011
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
28/05/2011
Great news! We can confirm £537.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/06/2011
Repayment amount: £638.81
Fee: £101.81
01/07/2011
Great news! We can confirm £626.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/07/2011
Repayment amount: £718.70
Fee: £92.70
01/08/2011
Great news! We can confirm £708.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/08/2011
Repayment amount: £797.95
Fee: £89.95
23/08/2011
Great news! We can confirm £785.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/09/2011
Repayment amount: £969.82
Fee: £184.42
16/09/2011
Great news! We can confirm £953.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/10/2011
Repayment amount: £1232.66
Fee: £279.66
17/10/2011
Great news! We can confirm £500.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/11/2011
Repayment amount: £655.07
Fee: £155.07
29/10/2011
Increased loan amount by £500.00
New loan amount: £1000.00
Repayment date: 16/11/2011
Repayment amount: £1250.31
Fee: £250.31
18/11/2011
Great news! We can confirm £500.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/12/2011
Repayment amount: £645.10
Fee: £145.10
01/12/2011
Increased loan amount by £500.00
New loan amount: £1000.00
Repayment date: 16/12/2011
Repayment amount: £1225.39
Fee: £225.39
16/12/2011
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
17/12/2011
Great news! We can confirm £901.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/01/2012
Repayment amount: £1174.72
Fee: £273.72
16/01/2012
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
16/01/2012
Great news! We can confirm £901.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/02/2012
Repayment amount: £1174.72
Fee: £273.72
19/01/2012
Emailed Wonga asking to set up payment plan
I currently have a loan with you to the value of £1125.00 which is due to be collected on Wed Feb 15 2012.
I wanted to get in touch with you to let you know that I have been in touch with the CCCS who are advising me to set up DMP as I will not be able to make this payment when it comes around.
Am I able to freeze the interest and set up a Debt Management Plan with you directly?
I obviously wish to repay the full amount but it has come to the point where I am unable to do unless it is over several months.
20/01/2012
Wonga's Response
Thanks for contacting us to ask about setting up a repayment plan.
We appreciate you alerting us a potential problem and understand that unexpected things happen in life, but we are unable to agree a repayment plan and treat your account as if it's in arrears before your agreed repayment date. The reason is that we want to give you every opportunity to stick to the terms of the original agreement without forcing you into an arrears situation.
If you can pay some of the outstanding balance you may be eligible to extend your loan for up to 30 days. You can do this within a week of the current repayment date, but not on the day that repayment is actually due.
As a responsible lender, we do require a part-payment of the balance. This means that the outstanding balance is decreased and that you only pay interest on the remaining balance. There is a £10 fee.
15/02/2012
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
18/02/2012
OVERDUE ACCOUNT -please pay your Wonga loan today or call us to discuss. Your outstanding balance is £1194.72.
25/02/2012
Please act now to avoid possible impact on your credit rating. We are very concerned that, despite our previous correspondence and offers to help you resolve this matter, your loan remains unpaid.
03/03/2012
We are concerned that you have still not repaid your loan, as this will cost you more and this is not what Wonga wants to see happen. Your outstanding balance is currently £1194.72.
10/03/2012
Your account remains overdue. We regret that you have still not repaid your loan, which has continued to accrue interest since we last wrote to you a week ago. Your balance today stands at £1194.72.
17/03/2012
Help us to help you. Your account is now a month overdue and has attracted a significant amount of additional interest above what you should have initially paid. We are sure you would rather not be receiving our emails and attempts to call you but, until you contact us and we can reach a solution, we must continue to take steps to recover the outstanding balance, which today stands at £1553.89.
31/03/2012
Important Message - please do not ignore. Despite all of our attempts to contact you and many offers of help, your outstanding balance remains unpaid. Your balance today stands at £1553.89.
17/04/2012
We're contacting you about a financial matter related to Wonga.com and reference xxx xxx. You may have already been contacted about this in the past, but it is possible that your situation or the terms being offered have changed. See if action now can save you money by visiting this link.
20/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
24/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
27/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
01/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
04/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
08/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
11/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
16/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
14/12/2012
TOTAL DEBT: £2027.36
We are writing to you in connection with the outstanding balance on the above account, and the arrears owed to us. We are required by the terms of your agreement to inform you that Wonga.com. have now passed your account to Moorcroft Debt Recovery Limited as of 10th December 2012. Moorcroft Debt Recovery Limited will be dealing with your account on our behalf . In order to avoid further action please contact them at...
06/06/2013
We're contacting you about a financial matter related to Wonga.com and reference xxx xxx. You may have already been contacted about this in the past, but it is possible that your situation or the terms being offered have changed. See if action now can save you money by visiting this link.
09/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
12/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
16/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
19/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
22/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
26/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
29/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
04/07/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
I received multiple letters and phone calls from Portfolio Recovery Associates (PRA) in this period.
25/04/2014
Called PRA to set up payment plan (£202.73 per month for 10 months) via BACS transfer, organised everything via email so I had a paper trail.
01/02/2015
Final payment made and massive weight lifted from my life. (They let me off the 6p).
I though it might be useful for people to see the timeline from the original loan of £205.50 and how it quickly escalated to a debt of £2027.36.
I've included the email correspondence from Wonga.
There were large periods of hiding my head in the sand and running away from the debt which I am not proud of. Every knock at the door and every time the phone rang was nerve-wracking. I'm now in a position were the debt is cleared and a massive cloud no longer hangs over my head.
08/11/2010
Great news! We can confirm £205.50 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/11/2010
Repayment amount: £219.69
Fee: £14.19
02/12/2010
Great news! We can confirm £301.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/12/2010
Repayment amount: £345.80
Fee: £44.80
02/02/2011
Great news! We can confirm £300.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/02/2011
Repayment amount: £347.68
Fee: £47.68
11/02/2011
Increased loan amount by £140.00
New loan amount: £440.00
Repayment date: 16/02/2011
Repayment amount: £500.36
Fee: £60.36
02/03/2011
Great news! We can confirm £442.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/03/2011
Repayment amount: £504.88
Fee: £62.88
01/04/2011
Great news! We can confirm £440.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/04/2011
Repayment amount: £507.02
Fee: £67.02
11/04/2011
Increased loan amount by £96.00
New loan amount: £536.00
Repayment date: 15/04/2011
Repayment amount: £612.52
Fee: £76.52
04/05/2011
Great news! We can confirm £538.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/05/2011
Repayment amount: £602.47
Fee: £64.47
15/05/2011
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
28/05/2011
Great news! We can confirm £537.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/06/2011
Repayment amount: £638.81
Fee: £101.81
01/07/2011
Great news! We can confirm £626.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/07/2011
Repayment amount: £718.70
Fee: £92.70
01/08/2011
Great news! We can confirm £708.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/08/2011
Repayment amount: £797.95
Fee: £89.95
23/08/2011
Great news! We can confirm £785.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/09/2011
Repayment amount: £969.82
Fee: £184.42
16/09/2011
Great news! We can confirm £953.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/10/2011
Repayment amount: £1232.66
Fee: £279.66
17/10/2011
Great news! We can confirm £500.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/11/2011
Repayment amount: £655.07
Fee: £155.07
29/10/2011
Increased loan amount by £500.00
New loan amount: £1000.00
Repayment date: 16/11/2011
Repayment amount: £1250.31
Fee: £250.31
18/11/2011
Great news! We can confirm £500.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/12/2011
Repayment amount: £645.10
Fee: £145.10
01/12/2011
Increased loan amount by £500.00
New loan amount: £1000.00
Repayment date: 16/12/2011
Repayment amount: £1225.39
Fee: £225.39
16/12/2011
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
17/12/2011
Great news! We can confirm £901.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 16/01/2012
Repayment amount: £1174.72
Fee: £273.72
16/01/2012
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
16/01/2012
Great news! We can confirm £901.00 has just left Wonga and is winging its way to your bank account at the speed of light (well, extremely fast anyway).
Repayment date: 15/02/2012
Repayment amount: £1174.72
Fee: £273.72
19/01/2012
Emailed Wonga asking to set up payment plan
I currently have a loan with you to the value of £1125.00 which is due to be collected on Wed Feb 15 2012.
I wanted to get in touch with you to let you know that I have been in touch with the CCCS who are advising me to set up DMP as I will not be able to make this payment when it comes around.
Am I able to freeze the interest and set up a Debt Management Plan with you directly?
I obviously wish to repay the full amount but it has come to the point where I am unable to do unless it is over several months.
20/01/2012
Wonga's Response
Thanks for contacting us to ask about setting up a repayment plan.
We appreciate you alerting us a potential problem and understand that unexpected things happen in life, but we are unable to agree a repayment plan and treat your account as if it's in arrears before your agreed repayment date. The reason is that we want to give you every opportunity to stick to the terms of the original agreement without forcing you into an arrears situation.
If you can pay some of the outstanding balance you may be eligible to extend your loan for up to 30 days. You can do this within a week of the current repayment date, but not on the day that repayment is actually due.
As a responsible lender, we do require a part-payment of the balance. This means that the outstanding balance is decreased and that you only pay interest on the remaining balance. There is a £10 fee.
15/02/2012
We have just tried to collect your promised repayment from your chosen debit card and, unfortunately, the payment was declined by your bank.
18/02/2012
OVERDUE ACCOUNT -please pay your Wonga loan today or call us to discuss. Your outstanding balance is £1194.72.
25/02/2012
Please act now to avoid possible impact on your credit rating. We are very concerned that, despite our previous correspondence and offers to help you resolve this matter, your loan remains unpaid.
03/03/2012
We are concerned that you have still not repaid your loan, as this will cost you more and this is not what Wonga wants to see happen. Your outstanding balance is currently £1194.72.
10/03/2012
Your account remains overdue. We regret that you have still not repaid your loan, which has continued to accrue interest since we last wrote to you a week ago. Your balance today stands at £1194.72.
17/03/2012
Help us to help you. Your account is now a month overdue and has attracted a significant amount of additional interest above what you should have initially paid. We are sure you would rather not be receiving our emails and attempts to call you but, until you contact us and we can reach a solution, we must continue to take steps to recover the outstanding balance, which today stands at £1553.89.
31/03/2012
Important Message - please do not ignore. Despite all of our attempts to contact you and many offers of help, your outstanding balance remains unpaid. Your balance today stands at £1553.89.
17/04/2012
We're contacting you about a financial matter related to Wonga.com and reference xxx xxx. You may have already been contacted about this in the past, but it is possible that your situation or the terms being offered have changed. See if action now can save you money by visiting this link.
20/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
24/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
27/04/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
01/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
04/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
08/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
11/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
16/05/2012
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
14/12/2012
TOTAL DEBT: £2027.36
We are writing to you in connection with the outstanding balance on the above account, and the arrears owed to us. We are required by the terms of your agreement to inform you that Wonga.com. have now passed your account to Moorcroft Debt Recovery Limited as of 10th December 2012. Moorcroft Debt Recovery Limited will be dealing with your account on our behalf . In order to avoid further action please contact them at...
06/06/2013
We're contacting you about a financial matter related to Wonga.com and reference xxx xxx. You may have already been contacted about this in the past, but it is possible that your situation or the terms being offered have changed. See if action now can save you money by visiting this link.
09/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
12/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
16/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
19/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
22/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
26/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
29/06/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
04/07/2013
Time is running out for our exclusive online offers related to Wonga.com and reference xxx xxx. You can resolve this matter completely online without speaking to an advisor or filling out long forms. ACT NOW and avoid other action by visiting this link.
I received multiple letters and phone calls from Portfolio Recovery Associates (PRA) in this period.
25/04/2014
Called PRA to set up payment plan (£202.73 per month for 10 months) via BACS transfer, organised everything via email so I had a paper trail.
01/02/2015
Final payment made and massive weight lifted from my life. (They let me off the 6p).
0
Comments
-
Christ, that really shows how fast and hard it can snowball. You take out the loan temporarily, then roll it over a couple of times when you can't pay it off as quick as you'd like... then you hit a hard limit and bam.
Hopefully the new rules relating to this kind of loan mean that it's harder for it to happen to others in the future, but it's astonishing that a few hundred can roll into several thousand.
Out of interest, did you only ever expand the loan to cover the previous loan + interest + fees of that previous loan? ie the £2027 was entirely to pay back the original £205.50? Or did you ever enlarge the loan for other purposes?"You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."0 -
Hi audigex, I can't actually remember why the initial loan came about but essentially I was spending beyond my means. After a certain point it flipped to just paying off itself. I would be a wreck come payday as I would just have used my whole wage to pay off the debt and would then have to hope I was successful on my brand new loan application.
By the end there was a £900 QuickQuid and £200 Lending Stream loan running in parallel to this as well.0 -
Ouch. I understand how it happens though, I've recently helped a friend who was on the verge of taking out payday loans to cover other debts: I helped as I realized they had no chance of paying off the payday loan, in fact so did they, but saw no other option.
But still, it shows so clearly how a couple of hundred (which would be manageable) can quickly become far, far more, from a simple mistake.
I'm not sure how the new regulations would have affected your case, though, as you were paying off the original loan properly for so long... but then having to take out another loan to cover your living expenses."You did not pull yourself up by your bootstraps. You were lucky enough to come of age at a time when housing was cheap, welfare was generous, and inflation was high enough to wipe out any debts you acquired. I’m pleased for you, but please stop being so unbearably smug about it."0 -
There is a reason they are called payday loans. For the life of me I cant remember it lol0
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I am surprised to see that the day after they have failed to take a payment from the bank account, they have granted you another loan! Surely there is no more obvious sign of financial problems than a bounced repayment yet they were still prepared to lend more.
Well done on getting out from under it.0 -
Hell why didn't you take out a logbook loan then you could have lost not only a car but still owed money, does a payday loan look bad then?
Money is the root of all evil.
Edit - Well done if that's what you need to hear x0
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