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Wonga / Grant Thornton

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carl1974
carl1974 Posts: 20 Forumite
edited 9 October 2019 at 3:40PM in Loans
Recieved this email 08/10/2019 anyone else had the same/similar ? It also lists 5 other loans which have been rejected with no explanation......


Case number: *********

Third party reference:

The Joint Administrators have assessed your claim and can confirm that it has been partially accepted. Your assessed claim amount is explained in the table below. A full breakdown of your loan history can be found at the end of this email.
Please be patient with us in respect of your payment. Payments will be made once all claims have been received and assessed. All claims must be submitted by 30 September 2019 and we expect to have made a payment to successful claimants by 30 January 2020.
Please be aware, the payment you receive will be significantly smaller than your accepted claim amount.
This is because it is expected that the total value of all accepted claims for customers/creditors received will significantly exceed the money available to be shared out.
We have rejected your 5 remaining loans:
Loan ReferenceLoan Start DateLoan AmountPaid Interest and FeesAccepted/Rejected 18-01-2011£200.00£25.77Rejected 11-02-2011£400.00£65.49Rejected09-05-2012£420.00£72.16Rejected 10-06-2012£300.00£76.11Rejected 09-08-2013£1091.00£484.42Rejected


IMPORTANT NOTICE: If your claim was submitted by a third party (for example, a relative, a claims management company or solicitor) then a copy of this email has also been sent to them. Please note that any fees you may have agreed to pay them for their services will need to be settled with them directly. If you have questions regarding your third party’s fees or the service they have provided, you should speak to them directly.


Total interest and fees on loans
£776.84
1
Total compensatory interest
£369.69
2
Less previous write off(s)
£0
3
Accepted claim value
£1,146.53
IT Support
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Comments

  • MovingForwards
    MovingForwards Posts: 17,149 Forumite
    10,000 Posts Seventh Anniversary Name Dropper Photogenic
    I had mine rejected, probably be I only had one loan from them.
    Mortgage started 2020, aiming to clear 31/12/2029.
  • Caz3121
    Caz3121 Posts: 15,832 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    carl1974 wrote: »
    Please be aware, the payment you receive will be significantly smaller than your accepted claim amount.

    £1,146.53

    will be interesting to see how many pennies to the pound creditors will actually receive
  • carl1974
    carl1974 Posts: 20 Forumite
    I read somewhere i think on bbc business they dont expect it to be 10%


    "If you are due a refund, you won't get paid the full amount. I will be surprised if you get more than 10% of it. That is a disgrace and the UK regulators should be ashamed that they allowed so many payday lenders to profit from people's desperation for so long.




    Search wonga on main bbc news website as wont let me post link
    IT Support
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  • carl1974
    carl1974 Posts: 20 Forumite
    IT Support
    facebook.com/ckcomser
  • carl1974 wrote: »
    I read somewhere i think on bbc business they dont expect it to be 10%
    "If you are due a refund, you won't get paid the full amount. I will be surprised if you get more than 10% of it. That is a disgrace and the UK regulators should be ashamed that they allowed so many payday lenders to profit from people's desperation for so long.

    Search wonga on main bbc news website as wont let me post link

    What would you have done if they had refused to lend you money? Ironically, Wonga went bust because too many people got on the refund bandwagon. If only people had not borrowed money they had no intention of paying back.
  • What would you have done if they had refused to lend you money? Ironically, Wonga went bust because too many people got on the refund bandwagon. If only people had not borrowed money they had no intention of paying back.



    Who said i had no intention of paying back ? I find it quite assumptive that you take that stance. The problem was the fact that many people like me rolled over the loans or took other/additional loans at the same time without the correct verification/affordability checks hence the flood of claims.
    IT Support
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  • carl1974 wrote: »
    Who said i had no intention of paying back ? I find it quite assumptive that you take that stance. The problem was the fact that many people like me rolled over the loans or took other/additional loans at the same time without the correct verification/affordability checks hence the flood of claims.

    If you needed to roll over a loan, you had no way of paying it back within the 30 days. You either knew that when taking out the loan, or you need a responsible adult to help you with your finances. You talk about responsible lending, which I agree with, but what about responsible borrowing? Why can't you take responsibility for your own actions?
  • sourcrates
    sourcrates Posts: 31,516 Ambassador
    Part of the Furniture 10,000 Posts I've been Money Tipped! Name Dropper
    If you needed to roll over a loan, you had no way of paying it back within the 30 days. You either knew that when taking out the loan, or you need a responsible adult to help you with your finances. You talk about responsible lending, which I agree with, but what about responsible borrowing? Why can't you take responsibility for your own actions?


    Understand fully what you are saying, but you can get caught up in a never ending cycle of rolling over loans, month after month, normal life seems to fade away, and the borrowing cycle takes over your everyday rational thinking, as the money must come from somewere to repay the next loan, its not a nice place to be.


    I have been there, during my divorce, its hard to describe to someone who has not experianced it, all common sense just vanishes, you are like a quivering child, a complete wreck, until you recognise the futility of continuing as you are, the only way out was to default, which is what i did, they were still throwing money offers at me even then.


    I have never been in such a dark place as i was then, not something i would care to repeat.
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • glennstar
    glennstar Posts: 282 Forumite
    Fifth Anniversary 100 Posts
    carl1974 wrote: »
    Who said i had no intention of paying back ? I find it quite assumptive that you take that stance. The problem was the fact that many people like me rolled over the loans or took other/additional loans at the same time without the correct verification/affordability checks hence the flood of claims.

    Carl,
    Can you explain what "correct verification/affordability checks" should have been carried out in your case? I think it would be helpful/insightful to understand what might have been done to help you avoid this situation.
    The views expressed here are my own. I am not a Solicitor nor am I affiliated with any of the parties I mention. If you disagree with any of my comments please say in whatever way feels most natural to you. No one self improves in a bubble!
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