Old Wonga loan

meefrono2222

Hi, new here so forgive me if I’m posting in the wrong place. 

I had a Wonga loan which I had stopped paying. It is marked as a late payment on my credit report and under ‘special arrangement’, but it has not defaulted. 

I had a period where I was burying my head in the sand and had a general unhealthy relationship with money and thus my credit score is only recovering. 

I have now found that I cannot pay Wonga back as they no longer exist... does anyone know what to do? I would like to settle and pay my debt but cannot seem to work out how. 

Usually things falls off a credit report after 6 years from default date, but if this is just laying open will it blight me forever? 

I would appreciate any advice. 

Thanks 

DCFC79

It wont blight you forever, when was the last payment you made to Wonga as the 6 year clock will start then.
Your score is only seen by you, lenders, banks, phone companies see your history.

meefrono2222

Hi thanks for your reply. 

This is what is showing. I can’t remember anything about it to be honest but I’m saving for a house deposit in a few years time and know it won’t be great bad if it looks like there’s an unsettled payday loan on my report. 

[Deleted User]

meefrono2222 said:

Usually things falls off a credit report after 6 years from default date, but if this is just laying open will it blight me forever? 

Not usually. 

Always.

They an technically apply for a CCJ which would be on your files for another 6 years if not settled within a month, but that's not going to happen given the circumstance.s

meefrono2222

Deleted_User said:

meefrono2222 said:

Usually things falls off a credit report after 6 years from default date, but if this is just laying open will it blight me forever? 

Not usually. 

Always.

They an technically apply for a CCJ which would be on your files for another 6 years if not settled within a month, but that's not going to happen given the circumstance.s

Forgive me if I’m being simple and just not getting it, but as there’s no default will it just stay there? I have no way of settling my account, nor will it default to set the 6 year ball rolling... it’s in limbo 

[Deleted User]

Then raise a dispute with the CRA to speak with whoever is providing the updates, to get a default backdated.

Or go direct.  Their site suggests you make payments to the same account details. https://wonga-administration.grantthornton.co.uk/customers/

sourcrates

An arrangement to pay will show for 6 years after you pay the debt off, so until you actually do that, your stuck with it unfortunatly.

You can contact wonga administrators to pay the debt back, or wait until their loan book has been sold, you would then be contacted by the new owner, if you think your loan was subject to unafordable lending, you can still complain, however, wonga has already paid out most compensation due, and it was a very small % of what was due back, so not enough to make much of a dent in your debt.

meefrono2222

Thanks for the replies thus far. I’ve gone via the Grant Thornton link and this is what I’ve found. 

I’ve never come across this before. 

I’m back at square one. 

sourcrates

Like i said, the loan book will be sold to realise assets, you will be written to.