Claiming payyday loans back from Wonga

savo456

Hi all, just thought I'd ask and see if anyone else has tried this and what their experience was?


My payday loans were taken out during a bit of a dark time for me and so it was a dreadful experience. Happy to say I am out the other side but have recently been made aware of complaints about the affordability of these loans and possibly claiming them back.


In short, I was desperate for cash and so for the best part of a year between 2011 and 2012 I was taking out a PDL every month at an average of £730 (including interest). So suffice to say, the total is a hearty one and really Wonga should have seen that I was struggling - at one point I had applied for two loans in a month.


I have already launched my complaint with them, I do believe they really didn't help me at all and it came at a severe cost. So I was just wondering if anyone else tried this and what luck they had? how long did they take to reply etc?


cheers!

ndf9876

Hi there,

This thread might give you some better answers :

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

But briefly, I can tell you that I pursued several complaints, escalated them to the Financial Ombudsman Service, presented my evidence and received awards in my favour.

sourcrates

Dedicated thread on DFW as said above.

Also more detailed info here :

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

savo456

thanks both. I have already seen the debtcamel site - this is where I got my inspiration from!


i'll check the other thread later as bedtime reading.


ndf9876, can I just ask if you went for the statutory interest as well and did you have any luck with that? and how quick was the turnaround?

Gambler101

The days of personal responsibility are long gone lol

[Deleted User]

OP I assume you knew at the time how high their APR was ? And that having borrowed the money you then spent it ? I rest my case, sorry to be harsh.

ndf9876

@savo456 - the lenders all respond differently to complaints, but if you have to take your complaint to the FOS and past Adjudicator stage (i.e. you have to have a decision from an Ombudsman), settle in for a wait of around a year.

The Financial Ombudsman will usually award statutory interest as a matter of course, I believe.

Debtcamel is a better resource for answers to these types of questions, I think.

Car1980

venison wrote: »

OP I assume you knew at the time how high their APR was ? And that having borrowed the money you then spent it ? I rest my case, sorry to be harsh.

How does that answer the question? In your simplistic view no lender could ever do anything wrong.

dresdendave

Car1980 wrote: »

How does that answer the question? In your simplistic view no lender could ever do anything wrong.

Although I wouldn't suggest no lender never does anything wrong, cases of mis-borrowing far outweigh those of mis-lending.

[Deleted User]

Car1980 wrote: »

How does that answer the question? In your simplistic view no lender could ever do anything wrong.

If the loan was spent then I'm sorry but the lender probably did nothing wrong and rarely do.
I don't attempt to answer the question just to state the blindingly obvious.