Student loans and pensions

Welshie28

Thank you 😁
I shall reply to Wonga's terrible excuse for an offer right now.

fusionx212

welp Wonga's playing hard ball with me, they believe only 8 loans were unaffordable which is absolute rubbish. they didn't seem to like the fact I cc'd the ombudsman into my reply either.

meh no skin off my nose, the longer this goes on the more interest.

Danni8787

Some good news

Wonga have finally upheld my complaint on week 11 (Directly, tho I did send to the FOS on week 8)

I had 6 loans with them (Interest was around £700) they have refunded me on 4. They also wiped off £200 a few years ago on my last loan.

£529.87 interest and fees
£50 Compensation
£177.63 8% Interest
-£35.53 tax

I've been a bit cheeky and told them I will accept this if they pay into my account today.

Just QuickQuid to go now (With the FOS).

sacha28

Well, what sobering reading. I downloaded my internet banking app last night and have today discovered, whilst sat in a very boring lecture, that I can view transactions from long ago!! I now have every payment made into my account from Wonga from the very 1st loan in July 2010 up to when the DRO was in force and last loan paid off in Jan 2013. I am ashamed to look at it and can see where everything began to spiral out of control.

Interestingly the amount of loans I took out didn't amount to a huge amount of money - £4000 - but there was a period in 2012 where they took several small payments (this was at a time I was on maternity and my wages unexpectedly dropped (I believed it was due to happen the month after) as there wasn't enough in my account to pay back the current loan. They then, a week later, randomly took the child benefit that had just been put in leaving me with nothing. I spoke to them at the time and they admitted to attempting small amounts every day until they finally got some money out of my account. A month later they lent to me again and the cycle continued.

It's made me feel so sad looking through my transactions and remembering how much of a failure I felt I was to my newborn. I almost wish I hadn't looked

Delete33

If you get to the FOS stage sacha28, you need to put this message across to your adjudicator. How it made you feel etc. I think you may be offered redress from Wonga, not sure of how much though, keep posting and be patient.

sacha28

Delete33 wrote: »

If you get to the FOS stage sacha28, you need to put this message across to your adjudicator. How it made you feel etc. I think you may be offered redress from Wonga, not sure of how much though, keep posting and be patient.

I'm 9 weeks in so could instruct MMS to involve FOS, I may just sit out the next week or so to see what comes forward.....if anything.

From the info above, could anyone hazard a guess at an amount??

I also don't understand what you mean by 'redress' Delete (sorry, my brain is being fried by ethics ironically :rotfl:) would you mind explaining it to me please?

Delete33

Hi sacha, redress is money back in compensation, I would think you should be offered approx £1000 as redress. But I am no expert.:cool:

sacha28

Is that in addition to the interest+8%?

Delete33

I am thinking in Total so interest added, you may get more, do not think about how much you could get. Start by thinking you will get nothing back, this is the way I am dealing with this long drawn out process.:cool:

sacha28

Delete33 wrote: »

I am thinking in Total so interest added, you may get more, do not think about how much you could get. Start by thinking you will get nothing back, this is the way I am dealing with this long drawn out process.:cool:

That's how I've been thinking the whole time, my imagination just ran away with me just then :rotfl: