Wonga :s

[lilhopaholic101]

I have had awful problems with Wonga. I took out a loan before christmas for £100, and I defaulted. By January the amount owed was

 

£386!

 

I paid off £186 as I had just recieved my student loan, and made an agreement over the phone that the next £200 would be collected on the 13th Feb. That was to be the end of the matter.

 

A few days before I recieved a letter from Chainey 'fake solicitors' blah blah blah saying I owed £275.

 

I refused to pay anything until Wonga refuted the charges which were contrary to our agreement. I keep recieving letters asking for more money, I believe the amount is now £408.

 

I wrote another letter last week once again stating that, they had broken the terms of our agreement so I am refusing to pay anything until the original agreement is reinstated which is a one off payment of £200. They seem to be ignoring me.

 

Is there anything else I can do?

[Tawnyowl]

Errol Damelin

 

Founder & CEO, Wonga.com

Wonga.com

 

United Kingdom

 

Contact Directly

 

Be back on later taking interest in this lot .In the meantime -go on let the laid back fella have it.

[Tawnyowl]

According to a recent report the Office of Fair Trading is to look more closely at payday loans, and this follows calls from a variety of debt campaigners and charities to launch an investigation into payday loans because of the high rate of interest that is charged on these loans. Payday loans are short term loan for relatively small sums of money, often used by those that need some money to tide them over until payday comes around, and with household finances getting increasingly tighter more and more people may be relying on loans such as these to get by each month. When urging the OFT to investigate payday loans debt officials used an example where one payday loan company was charging the equivalent of over 1500% interest on a loan of £750. Officials have said that the fees that are charged on these loans are way too high. The OFT has said that it is launching an investigation relating to the whole of the lending industry, and that the investigation into payday loans will form part of this.

According to officials from the Office of Fair Trading the purpose of the investigation is to determine ‘what constitutes responsible lending under the Consumer Credit Act and how this affects companies’ holdings of consumer credit licences’.

Debt campaigners and officials have said that the OFT should have taken greater action of regulation of payday loans and monitoring or practices and charges within the payday loan industry, with one official stating: ‘We believe there is a lot more they could be doing to curb the worst excesses of the payday industry. This was in Sept 2008 hopefully they have started this investigation.Believe it could take a year-mmm heard that before somewhere.

[Tawnyowl]

Just in case Advice For Non Payment (Defaulting) Of A payday Loan