Claiming against wonga

sacha28

I was just wondering if anyone could give me some pointers as to how this may play out?

A bit of background (although an AS would throw up some info)....back along I got myself into the most horrendous cycle using wonga. This resulted in, over an 18 month period, a total of 79 (yes, you have read that correctly!!) loans and roll overs and the eventual debt relief order that changed my life (have remained debt free since discharge in 2014).

TBH I was just grateful that that period of my life was over (it didn't stop dead at discharge, there were still 2 companies, including wonga, who simply refused to accept the DRO and it ended up with the OR and experian getting involved for the companies to adjust my file to reflect the DRO) and took full responsibility on the chin as I saw this as my poor choices, my problem. However, about 10 weeks ago, I saw something on TV that pricked my interest and made me adjust my thinking that, actually, wonga had acted pretty irresponsibly in the way they lended to me for example...they allowed the situation to continue for a very long period of time without ever questionning the affordability or why I was continually borrowing (sometimes only a couple of days after payday).

I approached a company (Iknow, I know) about a possible claim. I work FT, attend uni and have a 4 year old son so I don't have time to pursue (plus I wouldn't know where to start!) and they have taken up the case.....but I haven't heard anything for quite a while. The last correspondance I had was from wonga (company cc'd into email) saying that my complaint was complex and could take anoother 8 weeks. That was pretty much 8 weeks ago and have heard nothing since.

I feel quite conflicted about this. I still feel that I should accept the blame but I kind of want wonga to accept that they could have handled thing differently and maybe given help rather than continuous loans (I also feel like I have 'jumped on the bandwagon' in the whole compensation thing, this is not sitting easy with me in the slightest)

So, finally, my question is....has anybody else had experience with this kind of thing? Can anyone share the process and eventual outcome please? I don't even understand how the 'compensation' is calculated.

TIA

Delete33

Check out Reclaiming fromseveral pay day lenders on Debtfree Wannabe on MSE forums and on the Debt Camel website. Lots of posts and information for you to read.

sacha28

Delete33 wrote: »

Check out Reclaiming fromseveral pay day lenders on Debtfree Wannabe on MSE forums and on the Debt Camel website. Lots of posts and information for you to read.

Thanks delete. Could you provide a link please? I did have a scout around before starting the thread but couldn't find anything (you would think, after 5 years on this forum, that I would be able to navigate around it by now )

Pete_Star

Hi Sacha28,
79 loans over 18 months is horrendous and I think you'd have an excellent case against Wonga for irresponsible lending!

If your complaint succeeded, they would refund all interest you paid, possibly on every loan/top-up but more likely from the 3rd time you borrowed (though by the sounds of it you would have to pay some of this to the claims company you are using. For future reference, don't use one, you can do all the complaining yourself!). They should also add 8% interest on the money they pay back to you.

Many people on the Debt Camel site are reporting that Wonga are asking for longer than the 8 week limit (after which point you can involve the FOS in your complaint) as they are snowed under. However, Wonga are making realistic offers to people after this point without FOS involvement. But it's up to you of course how to pursue it.

I can't post the link to the Debt Camel site, which is excellent, but just Google 'Debt Camel' 'How to ask for one'.

The title of the MSE thread is 'Reclaiming money back from various payday loan companies' in the Debt-Free Wannabe section:

Good luck!
Pete

sourcrates

sacha28 wrote: »

Thanks delete. Could you provide a link please? I did have a scout around before starting the thread but couldn't find anything (you would think, after 5 years on this forum, that I would be able to navigate around it by now )

https://forums.moneysavingexpert.com/discussion/5289150

http://debtcamel.co.uk/payday-loan-refunds/